IFC Pledges More Support for Nigeria’s Creative Industry
Oluchi Chibuzor
The Managing Director of the International Finance Corporation (IFC), Makhtar Diop, has pledged the multilateral institution’s increased support for the creative sector in Nigeria.
This, he said, would involve robust engagement with major stakeholders in the Nigerian creative industry to improve what the IFC was doing for the sector on the continent.
Diop stated this recently, at an event organised by IFC, with the theme, ‘Conversation on Investing in Nigeria’s Creatives Industries,’ held in Lagos.
Interacting with industry stakeholders as part of his visit to Nigeria, the IFC boss expressed commitment to partner reliable entrepreneurs along the sector’s value chain in the country.
According to him, “We are ready to take more risks in the creative industry to boost the sector on the continent and I totally align with creating more jobs and providing employment for youths.
“Nigeria is very locomotive and what happens in Nigeria has a large impact on the rest of the countries on the continent.
“Today’s conversation is to show we are keen on working with the sector because I believe in the industry. I have been talking with Idris Elba to see what we can do for the continent.”
Responding to some questions from stakeholders on how IFC could support the film industry, Diop reiterated that the IFC would work with the sector’s stakeholders to identify bankable projects in the country.
“It is for us to understand what we can do and create more filmmakers to make more films that will be shown on Netflix,” he said.
However, the IFC MD stressed the need for the continent to begin to look at public private partnership in building strategic educational institutions for the sector.
According to him, “But something that is not highlighted enough in my view is education. I am passionate about music but there is no significant music school in Africa and so it is necessary to develop that ecosystem.
“We are articulating the sector as a strategy, but it is a strategy that is in the making. So, part of the strategy is to listen to you and find out what is better to shape what we are trying to do. The sector is so complex with a high rate of failure and that is why we are here to see how to work with you all.”
The event which attracted stakeholders in Nigeria’s creative sector saw major players demanding access to raw materials, market, finance, capacity building, favourable policy around equipment and building of hubs within the continent.
