Nigeria's creative economy focuses on IP ownership and financing

Stakeholders in Nigeria's creative sector are advocating for a shift toward intellectual property (IP) ownership and sustainable business models. At the second edition of the PluggedIN event in Lagos, industry leaders emphasized that brands should treat digital creators as IP owners capable of developing original content rather than merely as influencers for sponsored posts.

Babatunde Olaifa, Group CEO of Insight Redefini, noted that the creator economy has become the frontline of consumer engagement in Africa. The event, organized by Woof Studios Africa and Insight Redefini, aimed to facilitate long-term partnerships through structured briefs and funded productions.

Complementing these industry discussions, the Bank of Industry (BOI) is providing financial support through the Investment in Digital and Creative Enterprises (iDICE) programme. The BOI–iDICE Debt Fund offers loans ranging from ₦10 million to ₦1 billion to support film producers, music entrepreneurs, and fashion designers in expanding their operations, purchasing equipment, and accessing distribution networks.