In identifying the challenges met with the arts and culture industry in Nigeria, experts have attributed insufficient funds as a major problem, thereby appealing to the government and various stakeholders to join forces with the private sector to improve creativity.
Renowned artist and author, Polly Alakija discusses the challenges facing the creative industry, which she described as ‘Monumental’.
Alakija is of the opinion that merging private and public funds will significantly improve the productivity of arts and culture and in the long run improve the lives of all Nigerians through education, as well as improved public spaces for art and its appreciation
Speaking in the same vein, the Managing Director and CEO of Heritage Bank, Ifie Sekibo, discusses the necessary frameworks required to boost funding and further development of the creative industry in Nigeria.
Sekibo held that a collaboration between the government and financial institutions is important for the creative industry.
He advised that every artist should have a legal backing like a proper proprietary or intellectual property law from the government protecting their works to make monetizing feasible.