Taiwo Afolabi calls for investment in Nigeria’s creative industry

Dr. Taiwo Afolabi, Chairman of SIFAX Group, has called for increased investment, professionalization, and collaboration within Nigeria’s creative industry. Speaking at the 39th International Conference and 40th Annual General Meeting of the Society of Nigeria Theatre Artists (SONTA) at Lead City University in Ibadan, Afolabi emphasized the need to transform African indigenous knowledge into sustainable economic value.

The conference, themed ‘African Indigenous Knowledge Systems in Performance, Film and Sustainable Futures,’ highlighted how Nigeria’s cultural expressions—including storytelling, music, dance, and festivals—serve as underutilized national assets. Afolabi noted that theatre and film are essential for repositioning this heritage for modern audiences and suggested that technology could help document knowledge traditionally passed down through oral transmission.

Afolabi argued that a professionalized creative sector could drive economic growth, employment, tourism, and cultural diplomacy. He cited the global success of African music as a model for how local creativity can achieve international influence when properly packaged for global markets.