Group managing director of SO&U Udeme Ufot was the chairman at the inaugural QEDNG Creative Powerhouse Summit held in Lagos on Tuesday. Below are seven takeaways from his chairman’s remarks.
1. The creative industry is vibrant but underfinanced
Nigeria’s creative sector is rich in talent and cultural expression, but sustainable and strategic financing remains a persistent challenge. Without it, ideas cannot scale and potential remains untapped.
2. Financing must be smart, accessible, and tailored
Investment in the creative economy should be flexible, responsive, and aligned with the realities of creative work — enabling production, distribution, and protection of intellectual property, not just consumption.
3. Collaboration between stakeholders is essential
Banks, investors, government policymakers, and private sector leaders must work together to design financing models that de-risk investment and support scalable, locally relevant business models.
4. Data is critical for attracting investment
The industry must measure and present its impact beyond revenue – including job creation, export growth, cultural preservation, and community engagement – to make a strong case for funding.
5. Creative entrepreneurs must build business skills
Personal development, financial literacy, and sound business management are key to convincing investors and ensuring funds are well-managed. Creatives must evolve from being solely craftsmen to also being businesspeople.
6. Action must follow dialogue
The summit should not end as an academic conversation. Participants should leave with commitments – such as creating a creative investment fund, strengthening policy frameworks, and forming task forces for sustained collaboration.
7. Creativity is a national economic necessity
Beyond entertainment, creativity shapes identity, drives influence, and builds industry. Investing in it is not optional — it’s a low-hanging fruit for diversifying Nigeria’s economy and empowering its youth.
