Participants at the maiden QEDNG Creative Powerhouse Summit have applauded the organisers of the summit as it provided a veritable platform for push the industry to the next stage.

Themed “Financing as Catalyst for a Thriving Creative Economy,” the summit organised by Mighty Media Plus Network Limited had in attendance filmmakers, musicians, fashion designers, journalists, business and thought leaders, bankers and government officials, among others.

In his welcome address, the Publisher of QEDNG and Convener of the QEDNG Creative Powerhouse Summit, Olumide Iyanda, called for “honest conversations,” noting that it is time for creatives to think and act smart for the industry to bloom.

“Nigeria’s creative economy contributes approximately $5.6 billion to our GDP and it is the second highest employer in the country. The federal government has set a bold goal of raising the sector’s contribution to $100 billion by 2030. The plan seeks to position Nigeria as a leading creative and entertainment hub on the global stage,” he said.

On his part, Group Managing Director of SO&U, Udeme Ufot, who chaired the summit, argued that capital is required to unlock the potential of Nigeria’s creative economy and that capital must be sustainable and accessible.

“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 noted.

Delivering the keynote address, founder of The Africa Soft Power Group, Dr Nkiru Balonwu, observed that the challenge is not the absence of capital but the lack of scalable, structured investment frameworks that the industry needs to thrive.

“Part of what we need is tier-targeted financing (early stage grants), seed capital, patient equity, all tailored to the creative life cycle. We need financing designed for the messy middle, not just the glamorous headline projects or the polished final product,” she said.

Balonwu, former chief executive of Spinlet, the first music streaming and digital distribution platform in Sub-Saharan Africa, called for long-term financing solutions that support not just content production but also the often overlooked infrastructure critical for a thriving creative economy, including intellectual property banks, data centres, legal support, domestic distribution networks, rights management platforms, efficient payment systems and affordable production facilities.

“This requires a mindset shift. Creatives must see themselves not just as artists but as business people, institution builders and financially literate architects of enterprise. Financing must be smart, responsive, and tailored to the entire creative process, not just consumption,” she said.

Balonwu also noted the impact of Artificial Intelligence (AI) in the industry, urging creatives to see it as an enabler, not as a threat.

There were two panel discussions. The first moderated by Anike-Ade Funke Treasure was on funding creativity-bridging the gap between ideas and capital. On the panel were Founder of KAP Group, Kunle Afolayan; President and Founder of All-Africa Music Awards (AFRIMA), Mike Dada; Founder of Africa Film Finance Forum (AFFF), Mary Ephraim-Egbas, and Founder of Duke of Shomolu Productions, Joseph Edgar.

The second panel, which discussed financing creative enterprise- role of financial institutions and government, was moderated by former Lagos State Commissioner for Tourism, Arts and Culture, Steve Ayorinde. The panelists were Executive Director of the National Film and Video Censors Board (NFVCB), Dr Shaibu Husseini; Head of SME Banking at First Bank of Nigeria, Dr Abiodun Famuyiwa; Head of Legal and Business Development at The Temple Company, Yemisi Falaye and Group Head of Large Corporates and Structured Finance at Providus Bank, Dr Biodun Ariyo. The event was anchored by actress and voice artiste, Eyiyemi Olivia Rogbinyin