Vice President Kashim Shettima has called on investors and financial institutions to increase funding for African creative businesses, describing the sector as a major driver of future global companies, job creation and economic growth. Shettima made the call on Thursday at the opening of the Creative Africa Nexus Weekend (CANEX) 2026 in Lagos, which brought together government officials, investors and creative industry professionals to explore investment and business opportunities across the continent. Addressing investors at the event, the Vice President said Africa had the potential to produce globally recognised creative companies, urging them to invest in promising businesses at an early stage.
“The next great global creative companies will come from Africa. Back them early, and back them here,” he said. He also encouraged African creatives to turn their international recognition into tangible business opportunities by securing distribution agreements, investment commitments and strategic partnerships.
According to him, participants should leave the event with concrete business deals rather than just memories of the gathering.
“Do not leave Lagos with memories alone; leave with a signed term sheet, a distribution deal, a buyer’s handshake. The world is ready to pay for what you make,” he added. Shettima described the creative industry as an important economic sector rather than simply a source of entertainment. He said the Federal Government was working to strengthen intellectual property protection, improve access to financing and promote creative trade under the African Continental Free Trade Area (AfCFTA).
“Creativity is now a trade sector, and we intend to treat it as one,” he stated. The Vice President also called on African governments to remove barriers preventing creative businesses from accessing regional markets, particularly challenges associated with payments and cross-border transactions. He commended the African Export-Import Bank (Afreximbank) for its $540 million commitment to the creative sector.
Shettima further highlighted Africa’s youthful population as an economic advantage, noting that the continent could provide creative and digital skills needed by an ageing global workforce.
He urged African countries to take advantage of this opportunity by transforming their demographic strength into economic growth. Meanwhile, the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, disclosed that the Federal Government was making more than $600 million available to support digital and creative businesses through the Investment in Digital and Creative Enterprises (iDICE) programme. duwole also revealed that Nigeria approved its first national intellectual property policy and strategy in November 2025 before unveiling a creative sector investment playbook at the World Economic Forum in January 2026.
Reflecting on the growth of Nigeria’s music industry, she noted that institutional investment had played an important role in expanding music businesses, adding that similar financial support could create opportunities in film, fashion, literature, gaming and other creative fields.
She further disclosed that registration for CANEX 2026 had reached 17,000 participants, compared with 6,000 at the previous edition, highlighting increased participation in the event.
