Stakeholders in Nigeria’s creative and entertainment industry have urged the Federal Government to establish a Creative Industry Bank and intensify the fight against piracy to unlock the sector’s full potential for job creation, economic growth, and global competitiveness.

The call was made at the 2025 Ibadan International Film Festival with the theme “Story Meets Strategy: The Intersection of Art and Commerce in Film – Balancing Creative Vision with Commercial Speed.” The event brought together industry veterans, filmmakers, policy advocates, and aspiring creatives.

Veteran actress Feyikemi Abodunrin, popularly known as “Asake” in the iconic film Oleku, described piracy as a “cancer eating deep into the creative sector.”

She urged the government to clamp down more aggressively, noting that piracy robs artists of income and recognition while denying the country billions in potential revenue.

Abodunrin called on regulatory and security agencies to enforce intellectual property laws and support content creators through anti-piracy task forces, legal aid, and advocacy.

She appealed for the creation of a Creative Bank, similar to the Bank of Agriculture, to provide financial lifelines to creatives.

In his keynote address, Mr. Usman Olarotimi-Ogunlade, Convener of the festival, lamented the difficulty industry players face in accessing financing.

He stressed the need for a specialised Creative Bank to provide low-interest loans, grants, and tailored support services for filmmakers, musicians, and producers.

Highlighting Ibadan’s cultural heritage as home to Africa’s first television station, Olarotimi-Ogunlade said the city holds vast untapped creative potential that could transform Nigeria’s economy if harnessed.

“The creative economy is the future—vibrant, exportable, and youth-driven. If we get it right, it will become one of the biggest sources of employment and revenue for our country,” he said.

Rising actor Jessica Gabriel-Ujah described the festival as an eye-opener for emerging talents who often struggle to navigate the industry.

Participants also praised the festival for empowering young creatives through masterclasses, film screenings, mentorship sessions, and storytelling workshops.