Leaders from Nigeria’s creative sector, alongside lenders, government bodies, development partners and private-sector organisations, gathered in Lagos for the 2026 Business Day Creative Entertainment Summit at the Oriental Hotel to debate the structural reforms needed to help the industry scale over the long term and better capture its economic upside.
Summit focus: reforms to make Nigeria’s creative economy investment-ready
The meeting brought together key stakeholders to weigh both the opportunities and the obstacles shaping Nigeria’s creative economy, with discussions centring on how to develop a more sustainable, globally competitive and investable industry.
Panelists argued that while Nigeria’s creative talent has repeatedly broken through on international stages, the sector’s next phase of growth will hinge on how well the wider ecosystem supports artists, producers and creative enterprises.
FCMB executive highlights what must change beyond talent and funding
Speaking during a panel session, Nnenna Jacob-Ogogo, Group Head for SheVentures and Impact Segments at First City Monument Bank (FCMB), said Nigeria’s creatives have shown “remarkable success” globally. She said that continued momentum, however, depends on strengthening the environment around creative work—particularly the institutions and systems that enable businesses to expand.
Jacob-Ogogo pointed to the resilience and inventiveness of Nigeria’s creative industry, citing globally recognised artists, creators and businesses that have emerged despite operating under heavy structural constraints.
- She said the industry’s standout achievements reflect deep talent, creativity and entrepreneurial drive.
- She argued that lasting growth requires shifting attention from individual breakthroughs toward building the systems that help creative firms scale, compete and generate durable economic value.
- She said financing is necessary, but capital alone cannot address the sector’s structural issues.
Jacob-Ogogo then outlined a set of areas she described as essential foundations for attracting investment and sustaining expansion. These include intellectual property protection, royalty collection systems, business formalisation, governance standards, and data transparency. She also highlighted the role of distribution networks, industry infrastructure and capacity building.
- Intellectual property protection and stronger rights enforcement
- More efficient royalty collection mechanisms
- Business formalisation and improved governance standards
- Data transparency to improve market visibility and trust
- Distribution networks and industry infrastructure
- Capacity building to strengthen the pipeline of professional and scalable enterprises
She added that stronger institutional frameworks would not only improve investor confidence, but also allow creative entrepreneurs to build scalable operations that create jobs, contribute export earnings and support broader national economic development.
FCMB’s role: ecosystem support through training, mentorship and partnerships
Jacob-Ogogo said FCMB is focused on sectors that expand opportunities and promote economic development. She argued that progress in the creative industry depends on collaboration, knowledge sharing, capacity development and strategic partnerships that reinforce the ecosystem around creative businesses.
She said FCMB’s approach is to back initiatives and platforms that help entrepreneurs build stronger, longer-lasting companies, rather than treating support as purely financial.
- FCMB supports sector initiatives and platforms aimed at building more sustainable creative businesses.
- The bank emphasises collaboration and partnerships that strengthen the broader ecosystem.
- Support includes knowledge exchange, capacity development and strategic relationships.
Jacob-Ogogo said that through SheVentures and other entrepreneurship-focused interventions, FCMB continues to back entrepreneurs across multiple sectors by offering training, mentorship, business advisory services, and networking opportunities. Where appropriate, she added, the bank also provides financing solutions.
She concluded by reiterating FCMB’s commitment to working with stakeholders across sectors to reinforce Nigeria’s creative economy and help more entrepreneurs succeed in an increasingly competitive global marketplace.
