Group Managing Director of SO&U Udeme Ufot has urged Nigerian creative entrepreneurs to assure investors that any funds provided to them are safe by demonstrating strong business and financial management skills.
Speaking as chairman at the QEDNG Creative Powerhouse Summit held in Lagos on Tuesday, Mr Ufot stressed that sustainable financing is crucial for unlocking the full potential of Nigeria’s creative sector. The summit, themed “Financing as Catalyst for a Thriving Creative Economy”, was organised by Mighty Media Plus Network Limited.
He noted that despite the industry’s vibrancy and global appeal — from music and film to fashion, art and digital content — many ideas fail to take off due to inadequate access to strategic funding.
“Without access to sustainable and strategic funding, creativity struggles to scale. Ideas remain trapped in notebooks. Studios shut down. Talent goes untrained. And potential remains just that – potential!” Ufot said.
The marketing communications expert emphasised that the challenge is not simply providing capital but ensuring smart financing. He called for investors who understand the long-term nature of creative projects, banks to design tailored products and government to develop policies that reward innovation and risk-taking.
“Capital is required to unlock the potential of our Creative Economy. Capital must be made available and accessible to creative entrepreneurs to not only launch their enterprises, but to scale to levels where they can enjoy economies of scale,” he said.
“We cannot build a thriving creative economy if access to capital remains restricted, misunderstood, or misaligned with the realities of the creative process. Financing must be responsive, flexible, and intentional. It must be designed not merely to support consumption, but to enable production, distribution, and protection of creative output.
“The issue is not just about throwing money at the industry. It is about smart financing. It is about investors who understand the long tail of content development, banks willing to develop products tailored for creative entrepreneurs, governments designing policy environments that reward innovation and risk-taking, and private sector leaders championing scalable, locally relevant business models.”
Ufot also stressed the importance of accurate data to attract investment, measure the industry’s true economic impact and demonstrate its value beyond box office numbers or streaming statistics.
He advised creatives to acquire basic financial literacy, evolve from being solely craftsmen to entrepreneurs, and build the trust of financiers. “Getting money from investors or from financial institutions implies risk. Creative entrepreneurs must give their financial backers the confidence that funding made available to them is in safe hands,” he said.
The SO&U boss identified key questions for stakeholders to address, including how to de-risk creative sector investment, adapt successful financing models from other markets, protect intellectual property in the digital age and leverage cooperatives, crowdfunding and digital banking.
He proposed concrete action beyond discussions, such as creating an industry-wide investment fund, strengthening policy frameworks and establishing a collaborative task force.
Ufot concluded by describing creativity as both identity and industry, arguing that it is a “low-hanging fruit” capable of transforming Nigeria’s large youth population into a productive economic asset if given the right support.
