Vice President Kashim Shettima has urged investors and financial institutions to increase funding for African creative businesses, describing the sector as a major driver of employment, economic growth and global competitiveness.
Shettima made the call on Thursday at the opening of the Creative Africa Nexus (CANEX) Weekend 2026 in Lagos, where government officials, investors and creative industry professionals gathered to explore financing and commercial opportunities across Africa.
Addressing investors, the Vice President said Africa had the potential to produce major global creative companies if emerging businesses received adequate financial support.
He urged investors to identify promising creative enterprises and support them early to enable them to grow and compete internationally.
Shettima also challenged African creatives to convert their international recognition into commercial opportunities through distribution agreements, investment commitments and strategic partnerships.
He described the creative industry as an important economic sector rather than merely a source of entertainment, noting that the Federal Government was strengthening intellectual property protection, expanding access to finance and promoting creative trade under the African Continental Free Trade Area.
He further called on African governments to remove barriers preventing creative businesses from accessing regional markets, particularly challenges affecting payments and cross-border transactions.
The Vice President commended the African Export-Import Bank (Afreximbank) for committing $2bn to Africa’s creative industries through 2027.
He noted that the 2024 CANEX gathering in Algiers attracted nearly 4,000 participants from 81 countries and facilitated business deals worth more than $540m.
Also speaking, the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, disclosed that the Federal Government was unlocking over $600m in financing for digital and creative enterprises through the Investment in Digital and Creative Enterprises programme.
She said the government was strengthening intellectual property protection and developing policies to help Nigerian creatives benefit financially from their works.
Lagos State Governor, Babajide Sanwo-Olu, also described the creative economy as an important source of employment and export earnings, urging creators to protect their intellectual property, register their businesses and properly value their products.
He expressed confidence that Lagos could become a major marketplace for African creative products under the AfCFTA.
The four-day CANEX Weekend 2026 is taking place in Lagos from November 5 to 8, bringing together stakeholders to explore investment, partnerships and opportunities in Africa’s creative economy.
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