From Afrobeats to style: How focused financing can scale Nigeria’s inventive economic system
Nigeria’s inventive economic system is now not rising however asserting itself on the worldwide stage.
From Afrobeats dominating worldwide charts to Nigerian style showing on the world’s most prestigious runways, the nation’s cultural exports are reshaping international perceptions of Africa.
But beneath this momentum lies a well-known problem: scale.
On this second instalment of Dimensioning Nigeria’s Artistic Business, we look at the opposite 5 fast-growing inventive verticals—Music, Superb Arts, Theatre, Trend, and Meals—and discover why, regardless of their international relevance, structural gaps proceed to constrain their full {economic} potential.
Additionally learn Dimensioning Nigeria’s Artistic Business: MBO Capital’s Perspective (Half 1)
Nigerian music, significantly Afrobeats, has turn into one among Africa’s most profitable cultural exports. Artists similar to Burna Boy, Rema, Ayra Starr, and Tems now command worldwide audiences, pushed by streaming platforms and digital distribution.
Nevertheless, a lot of the {economic} upside stays unrealised, significantly in music publishing, rights administration, and licensing, which proceed to be underdeveloped relative to the size of Nigeria’s inventive output.
As is frequent globally, most recording artists generate significant earnings by means of stay performances slightly than recorded music alone.
But Nigeria stays largely excluded from international touring circuits as a consequence of a scarcity of purpose-built efficiency venues.
This infrastructural deficit limits home touring, reduces international artist inflows, and restricts the native seize of live-event revenues.
Addressing this hole is essential. Objective-built arenas not solely allow live shows but additionally catalyse complete ecosystems—from occasion production and hospitality to tourism and logistics.
Investments such because the Undertaking X Enviornment in Lagos, backed by a consortium of native and worldwide buyers (together with Nigeria Sovereign Funding Authority, Nigeria’s sovereign wealth fund, Persianas Group, Oak View Group and MBO), signify an essential step towards anchoring stay leisure inside Nigeria.
Globally, high quality artwork is recognised instead asset class. Nigeria’s contribution to this house is effectively established, with artists similar to Aina Onabolu, Bruce Onobrakpeya, Yusuf Grillo, and Ben Enwonwu securing worldwide acclaim.
Enwonwu’s Tutu, which bought for $1.6 million at public sale in 2018, stays a strong sign of the worldwide market’s urge for food for Nigerian artwork.
But inside Nigeria, high quality artwork stays comparatively area of interest as an investible sector. That is starting to vary. Structured financing for respected galleries, artist estates, and curated collections presents a possibility to professionalise the market whereas unlocking long-term worth appreciation.
Equally essential are establishments that nurture creative expertise and international collaboration. Artist residency programmes similar to Visitor Artists Area Basis, Reimagining Hope, and 1952 Africa are strengthening the inventive pipeline, whereas platforms like ART X Lagos proceed to raise visibility and market entry for Nigerian artists.
Funding in supporting infrastructure, together with skilled framing, conservation companies, and climate-controlled storage, might be important to preserving worth and institutionalising the sector.
Theatre occupies a singular place inside Nigeria’s inventive ecosystem. Whereas much less commercialised than movie or music, it performs a essential position in cultural preservation, expertise improvement, and storytelling.
The reopening of the Nationwide Theatre indicators renewed dedication to the performing arts, restoring a historic cultural landmark and offering a platform for professionalisation.
Though Nigeria has but to develop a business theatre ecosystem akin to Broadway or the West Finish, grassroots initiatives proceed to drive momentum.
Festivals similar to Terra Kulture’s Lagos Worldwide Theatre Pageant spotlight the sector’s vitality, whereas theatre more and more serves as a pipeline into movie and tv.
Productions like Osamede (partly funded by MBO), which transitioned from stage efficiency on the MUSON Centre in 2022 to cinematic launch in October 2025, show theatre’s position as each cultural incubator and business springboard.
Nigerian style has turn into a strong image of latest African identification.
Designers mix heritage with fashionable aesthetics, incomes worldwide recognition and retail placements in shops similar to Macy’s, Selfridges, and Bloomingdale’s that are now stocking items from labels like Lisa Folawiyo, Andrea Iyamah and Orange Tradition.
This retail visibility sits alongside cultural moments that place Nigerian creativity on the centre of world style conversations.
For example, on the Met Gala, Nigerian designers similar to Chuks Collins have dressed worldwide celebrities, whereas different appears to be like impressed by Nigerian textiles and craftsmanship have appeared on the crimson carpet.
Collectively, these developments sign a brand new period through which Nigerian style is just not solely exporting aesthetics however changing into woven into the material of world fashion.
But the trade’s main constraint is just not creativity—it’s production. Many designers depend on international garment makers as a consequence of gaps in native technical experience, mechanisation, and high quality management.
International locations similar to Morocco have constructed manufacturing ecosystems able to servicing international manufacturers, underscoring what focused industrial funding can obtain.
To scale Nigeria’s style sector, funding should prolong past designers to your complete worth chain: textile manufacturing, cloth innovation, mechanised garment production, style expertise, logistics, and coaching establishments.