Ecobank Exposes Nigeria’s Creative Industry to $62bn Global Art Sector

Kayode Tokede

Ecobank Nigeria yesterday expressed its determination to position Nigeria’s creative industry to the $62 billion global art sector. 

The pan-African financial institution this week will be hosting the second edition of the +234 Art Fair, curated by Soto Gallery, in partnership with Ecobank Nigeria Limited and Africa Finance Corporation (AFC).

The event is expected to attract Nigerians from all walks of life, Africans and non-Africans residing in Nigeria, top government officials, policymakers, members of the diplomatic corps, and global art enthusiasts.

Speaking with journalists on the commencement of programme in Lagos, Head, SME, Partnerships and Collaboration, Ecobank Nigeria, Ms Omoboye Odu, said the fair is aimed at pushing local artists on the global scene, noting that the partnership on the art fair which started last year had been a success.

 “We found is that the global art market is estimated to be around $62 billion the bulk of that comes from America. As a pan-African bank, Ecobank Nigeria is focused on solving financial inclusion challenges in Africa and we are working to ensure that Africa has a key place in the global art market.” 

“We are looking at how we can ensure that Nigerian artists who are the most popular in Africa are well represented.”

While noting that the bank is a financial institution, she said its role in promoting art “is to give financial and corporate governance guidance to ensure that they become big on the global scene.”

Speaking also, the Founder of +234 Art Fair and Soto Gallery, Ms. Tola Akerele, explained that the fair is to allow the artists to know where they are, locally, regionally and internationally, and be able to understand the market.

Kicking off at the Ecobank Pan African Centre (EPAC), between March 27 and 31, 2025, she said the fair, themed “Championing Patronage in Nigerian Art” will include workshops, panel discussion and fireside chats with experts in industry who will help artists understand more about the business of art. 

Stating that the goal is to get the emerging and un-galleried Nigerian artists “to be elevated and be able to contribute to the enjoy the economy. It is all about promoting Nigerian culture, heritage, creative economy, all these different things.” 

“We see Nigerian art being demanded globally. The quality of Nigerian artists is definitely the best in Africa. So it is really a part of them to like leapfrog and excel from the starting point for them. Since they are emerging artists, the prices are lower than your typical global exhibitions because they are young, but they are good.” 

“We had over 1000 applications for this fair, and we went through every single application and selected 140 artists that are the best in the country,” she added.