Friday, September 19, 2025
23.8 C
Lagos

Sterling Bank Shines Spotlight on Creative Industries Potential

 

“Nigeria’s leading financial institution, Sterling Bank Plc, has reiterated its determination to empower and energise the creative industry because of its strategic importance to the economic growth of Nigeria.”

Head of Media and Entertainment Financing at Sterling Bank, Mr. Olanrewaju Olalusi, disclosed the above at the weekend in Lagos while addressing participants at a seminar organised by the Legends of Nollywood with the theme: “Empowering the Nigerian Film Industry – Actualising Your Resources.”

He said the bank had begun exploring financing of the creative industries in addition to its HEART sectors programme because of its importance to the national economy.

Sterling Bank has become renowned for its strategic focus and investments in the Health, Education, Agriculture, Renewable Energy and Transportation sectors of the Nigerian economy. These sectors have been affectionately dubbed the HEART of Sterling, and our HEART has contributed immensely to the growth of the bank, the sectors and the Nigerian economy.

Olalusi said it is important for artists to leverage funding from financial institutions to scale the level of their operations, remarking that the bank has set up a desk for the purpose of financing practitioners in the creative industry, information technology (IT) and animation, among others.

“We are open to having conversations with partners in the creative industry on the way forward” he said.

He said that the industry was bustling with amazing talent and potential. But he highlighted a key challenge confronting the industry; a lack of viable business plans on the commercial perspective of creativity to show investors.

He continued by saying that there is a growing need for artists to separate their businesses from themselves and focus on improving their access to infrastructure and a ready market for their creative expressions.

Through collaborations with dedicated partners like Sterling, creatives can better their lot, both creatively and commercially, by leveraging financial advisory services, commercial loans, and other specially designed products to further capacity building and move the industry forward.

In a keynote address by Lagos State Commissioner of Planning and Budget, Mr. Samuel Egube, urged operators in the creative industry to think more deeply about how to seize available opportunities in the industry.

He noted that if the industry must grow, then it should be able to attract financial resources from investors, adding that government alone cannot drive the growth in the industry.

He said the business plan should present a strong case to encourage investors to invest. He disclosed that the Lagos State Government has plans to build a media city in the Lekki axis for practitioners in the creative industry to leverage on under its 30-year development plan.

Also speaking, the President of the Association of Movie Producers, Mr. Paul Obazele encouraged his colleagues to lift the industry to a show business level by leveraging financial institutions to scale their operations instead of relying on grants alone.

 

 

spot_img
spot_img

Hot this week

Designing the Future: Arc Christian Benimana, Prof Taibat Lawanson to Headline Ecobank Design and Build 2025

Ecobank Nigeria has announced that celebrated architect Arc. Christian...

Sovereign Trust Insurance Wins Enactus Catalyst Award

From L-R: Victor Akinfala, Head Partnerships & Special Projects,...

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

Universal Insurance MD/CEO, Jeff Duru, Bags CIBN Associate Membership

  Dr. Jeff Duru Managing Director/CEO Universal Insurance Plc The Managing Director/CEO of...

Sterling One Foundation CEO, Olapeju Ibekwe, Joins Board of UN Global Compact Network Nigeria Ahead of UNGA 80

    Olapeju Ibekwe, Chief Executive Officer of Sterling One Foundation,...

Topics

Olam’s Rice Farm Creates Awareness Against Child Labour

The Management of Olam’s Rice Farm in Rukubi, Nasarawa...

Almond Insurance Industry Awards 2024 Holds Nov 1 in Lagos

The stage is now set for the 2024 Almond...

2022 Nigeria DigitalSENSE Forum Set for June 9

The 2022 Nigeria DigitalSENSE Africa Forum (NDSF) on Internet...

AIG Executes Plan to Repay $21bn Stimulus to U.S. Govt

American International Group Inc. (AIG) announced it has executed...

Stanbic IBTC: ‘Most Outstanding Commercial Bank Brand in Nigeria’

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC...

The Uninsured Vs The Insurance-less Among Us

Many Nigerians entered the New Year with anxiety and...

The Need for Non-Oil Sector Development

The current state of oil prices in the international market is a divine blessing for Nigeria. It represents a unique opportunity for Nigeria to re-discover itself and diversify its sources of national revenue or slump into deeper financial crisis and poverty. It has been proven in the lives of individuals, organisations and nations, that certain negative experiences or consequences spurred them to innovations and critical thinking, and led them to greater heights. It is our hope that such could become of our own country.
spot_img

Related Articles

Popular Categories

spot_imgspot_img