Woodhall Capital, Polaris Bank, UK & Lagos Government Launch ₦1.5 Billion Fund to Boost Nigeria’s Creative Economy
Woodhall Capital, in partnership with Polaris Bank, the Lagos State Government, and the UK Government, has announced the launch of a ₦1.5 billion fund to support Nigeria’s creative economy. The fund aims to increase access to structured financing for creative entrepreneurs, enabling them to scale their output across sectors such as fashion, film, music, and digital content.
The fund was unveiled during the launch of the *Creative Currency Podcast*, an initiative designed to foster collaboration among creatives, financiers, policymakers, and global stakeholders. The platform will serve both as a podcast and as a policy engagement forum, addressing longstanding challenges such as limited access to finance, weak enforcement of Intellectual Property (IP) rights, and the lack of scalable business infrastructure within Nigeria’s creative ecosystem.
In May 2022, Polaris Bank partnered with the Lagos State Employment Trust Fund (LSETF) to establish a ₦1 billion funding initiative aimed at artisans in Lagos. This initiative was designed to provide vital financial support to empower skilled artisans and entrepreneurs within the MSME sector, who have maintained active operations for at least one year. The goal is to foster wealth creation and promote economic inclusion across the state.
The launch event was held on Thursday evening at the Ikoyi residence of the British Deputy High Commissioner. Polaris Bank’s Executive Director, Abimbola Ozomah, who participated in a panel discussion, emphasized that the new fund is a much-needed response to the structural exclusion of creatives from formal financing systems. She described the initiative as a deliberate effort to recognize creative endeavors and intellectual property as bankable assets, and to build a framework where creatives are seen as serious entrepreneurs capable of generating significant economic value.
“This fund represents more than capital; it reflects our belief in Nigerian creativity as a global force,” Ozomah said. “We’re not just exporting talent—we’re exporting ownership, structure, and long-term value.”
Mojisola Hunponu-Wusu, founder and CEO of Woodhall Capital, reiterated the urgent need to redefine how the financial system engages with the creative sector. She committed to providing bespoke financial products, advisory services, and investor-matching support tailored specifically to meet the needs of creative MSMEs.
The UK Government, represented by the British Deputy High Commissioner, Mr. Jonny Baxter, highlighted its longstanding commitment to Nigeria’s creative economy. He referenced the UK-Nigeria Creative Industries Partnership signed in 2024 as a milestone in unlocking trade, investment, and collaborative opportunities between the two countries. Baxter praised the initiative as a blueprint for global creative cooperation.
The Lagos State Government, a key partner in the initiative, reaffirmed its ambition to position Lagos as Africa’s creative capital. Representing the Governor, Mrs. Folashade Ambrose-Medebem, Honourable Commissioner for Commerce, Cooperatives, Trade, and Investment, highlighted the state’s efforts through progressive policy reforms, infrastructure development, and the provision of zero-interest loans of up to ₦10 million via the Lagos Creative Fund. These measures aim to empower creatives to expand their operations, access markets, and formalize their businesses.
The *Creative Currency Podcast* is envisioned to be more than just a media channel; it is a knowledge-sharing ecosystem that brings together local talent, international investors, legal experts, and cultural stakeholders. The platform will explore opportunities, identify risks, and share solutions to elevate Nigeria’s creative industries to global standards.
Panelists emphasized the need for greater structure, transparency, and professionalism within the sector. Creators were encouraged to develop clear business plans, maintain accurate financial records, formalize their operations, and assert their rights to royalties and IP protection.
As discussions progressed, financial institutions acknowledged the necessity of a mindset shift. They agreed that traditional risk models must be reimagined to account for the unique nature of creative enterprises, many of which rely on intangible assets, flexible revenue streams, and export potential.
The event concluded with a call to action: invest in systems, not just stories. Stakeholders expressed a unified belief that a more structured, collaborative, and well-capitalized creative economy will generate jobs, boost exports, and enhance Nigeria’s global relevance.
Polaris Bank has established a strong presence in MSME financing, committing billions of naira in loans to support small and medium-sized businesses across Nigeria. Its varied lending portfolio aims to empower entrepreneurs, create jobs, and build wealth.