Woodhall Capital, in Partnership with Polaris Bank, UK & Lagos State Governments, Launch ₦1.5 Billion Fund to Scale Nigeria’s Creative Economy

Photo Caption: (L-R) Abimbola Ozomah, Executive Director, Polaris Bank; Mojisola Hunponu-Wusu, Founder/CEO, Woodhall Capital; Sola Carrena, MD/CEO, Helios Investment; Onyinyechi Aderigbigbe, Head of Brands & Marketing, Woodhall Capital; Jonny Baxter, British Deputy High Commissioner, at the signing ceremony of the ₦1.5bn Creative Sector Fund and the Launch of the Creative Currency Podcast, held at the weekend in Lagos.

Woodhall Capital, in partnership with Polaris Bank, the Lagos and UK governments, has announced the launch of a ₦1.5 billion Creative Sector Fund aimed at expanding access to structured financing for creative entrepreneurs. The fund is designed 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 between creatives, financiers, policymakers, and global stakeholders. The platform will serve as both a podcast and a policy engagement forum, tackling long-standing challenges such as limited access to finance, weak Intellectual Property (IP) enforcement, and the absence of scalable business infrastructure within the creative ecosystem.

In May 2022, Polaris Bank partnered with the Lagos State Employment Trust Fund (LSETF) to establish a ₦1 billion funding initiative targeted at artisans in Lagos State.

The objective of the partnership was to deliver critical financial support to empower skilled artisans and entrepreneurs within the MSME sector who had maintained active business operations for at least one year, ultimately fostering wealth creation and economic inclusion across the state.

At the launch event, which 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 fund is a long-overdue response to the structural exclusion of creatives from formal financing systems. She described the initiative as a deliberate attempt to recognize creative endeavors and intellectual property as bankable assets, and to build a framework where creatives are treated as serious entrepreneurs capable of generating significant economic value.

“This fund represents more than just capital; it reflects our belief in Nigerian creativity as a global force,” said Abimbola Ozomah. “We’re not just exporting talent—we’re exporting ownership, structure, and long-term value.”

Founder and CEO of Woodhall Capital, Mojisola Hunponu-Wusu, 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 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. The UK-Nigeria Creative Industries Partnership, signed in 2024, was cited as a milestone in unlocking trade, investment, and collaborative opportunities between both countries. The Deputy High Commissioner praised the initiative as a blueprint for global creative cooperation.

The Lagos State Government, a key driver of the initiative, reaffirmed its ambition to cement Lagos as Africa’s creative capital. Mrs. Folashade Ambrose-Medebem, the Honourable Commissioner for Commerce, Cooperatives, Trade, and Investment, and representative of the Governor, highlighted the state’s efforts to support the sector 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 are designed to empower creatives to scale their operations, access markets, and formalize their business practices.

The newly launched Creative Currency Podcast is positioned to be more than just a media channel. It is a knowledge-sharing ecosystem that brings together local talents, international investors, legal experts, and cultural stakeholders to explore opportunities, identify risks, and share solutions that will elevate Nigeria’s creative industries to global standards.

Throughout the panel sessions, panelists emphasized the need for deeper structure, transparency, and professionalism in 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 deepened, financial institutions acknowledged the need for a shift in mindset. Traditional risk models, they agreed, must be reimagined to reflect the unique nature of creative enterprises—many of which are driven by intangible assets, flexible revenue models, and export potential.

The event concluded with a call to action: invest in the systems, not just the stories. Stakeholders were unanimous in their belief that a more structured, collaborative, and well-capitalized creative economy will deliver jobs, exports, and global relevance for Nigeria.

Polaris Bank has built a strong footprint in financing MSMEs, committing billions of naira in loans to support MSME operations in Nigeria. With a substantial lending portfolio dedicated to empowering micro, small, and medium businesses, Polaris Bank aims to foster business growth, create jobs, and build wealth.