Polaris Bank and Woodhall Capital, in partnership with the Lagos State and United Kingdom governments, have launched a ₦1.5 billion Creative Sector Fund. Unveiled last week at the Ikoyi residence of the British Deputy High Commissioner to Nigeria, the fund is designed to help creative entrepreneurs in Nigeria access structured financing and expand their work in fashion, film, music, and digital content.
The launch also introduced the Creative Currency Podcast, a platform designed to connect creatives with financiers, policymakers, and global investors. The podcast will serve as both a media forum and policy engagement tool. It will address key issues such as poor access to finance, weak intellectual property rights enforcement, and the lack of scalable business structures in Nigeria’s creative industry.
Speaking at the event, Polaris Bank’s executive director, Abimbola Ozomah, described the fund as long overdue. She said creative businesses have been left out of traditional financing systems for too long.
“This fund represents more than capital, it reflects our belief in Nigerian creativity as a global force,” Ozomah said. “We’re not just exporting talent. We’re exporting ownership, structure, and long-term value.”
CEO of Woodhall Capital, Mojisola Hunponu-Wusu, echoed Ozomah’s message. She said the financial system must rethink how it supports the creative sector.
Hunponu-Wusu promised that Woodhall Capital will offer specialized financial products, advisory services, and connect creative entrepreneurs with investors. Her focus, she said, is on helping creative businesses grow in a way that makes sense for their unique needs.
The UK Government also pledged its support. The British Deputy High Commissioner, Jonny Baxter, spoke about the importance of strengthening ties between the UK and Nigeria through creative industries. He pointed to the UK-Nigeria Creative Industries Partnership signed in 2024 as a major step in boosting trade and cultural exchange between the two countries.
Representing Governor Babajide Sanwo-Olu, the Lagos State commissioner for commerce, cooperatives, trade and investment, Folashade Ambrose-Medebem, reaffirmed the government’s commitment to making Lagos Africa’s creative hub.
She said Lagos State is offering zero-interest loans of up to ₦10 million to creatives through the Lagos Creative Fund. She also highlighted the state’s work in building infrastructure and supporting policies that help creative businesses grow.
Speakers at the panel sessions stressed the need for creatives to treat their work like serious businesses. They encouraged artists and content creators to keep good financial records, write clear business plans, and secure legal rights to their intellectual property.
Financial institutions at the event agreed that traditional ways of measuring business risks must change. Many creative businesses are built on ideas and intellectual property, not physical assets. This, they said, calls for a new way of thinking about loans and investments in the sector.
Polaris Bank has a storied history of supporting small businesses. In 2022, the bank partnered with the Lagos State Employment Trust Fund (LSETF) to create a ₦1 billion fund for artisans and small business owners in Lagos. It has also invested billions of naira into micro, small, and medium businesses across Nigeria.
The bank says it is committed to supporting the creative sector as a vital part of the country’s economic growth.
