TerraKulture, IFC Partner To Deepen Nigeria’s Creative Economy Via Job Creation, Economic Diversification

In line with its commitment to inclusive growth, job creation, and economic diversification, the International Finance Corporation (IFC) has formally marked a mandate partnership with Terra Kulture to support the expansion of creative infrastructure and skills development in Nigeria.

The signing reflects IFC’s recognition of the creative economy as a strategic sector —one that supports employment, nurtures entrepreneurship, and creates meaningful pathways for young people and women to participate in the economy.

The mandate partnership establishes a framework for collaboration aimed at strengthening Nigeria’s creative ecosystem by expanding access to professional creative spaces and training.

It supports the growth of a vibrant creative scene that enables Nigerian stories to be developed, produced, and shared from an African perspective on the global stage.

Under the mandate, IFC will support the refurbishment of TerraKulture’s creative and training facilities in Lagos, reinforcing its role as a flagship platform for talent development across theatre, film, visual arts, and cultural production.

Through its integrated model, TerraKulture equips emerging creatives with industry-relevant skills, professional networks, and viable pathways into employment and entrepreneurship across the creative value chain.

For more than two decades, TerraKulture has played a central role in preserving Nigerian languages, storytelling, and artistic expression, while serving as an incubator for actors, writers, technicians, and creative entrepreneurs.

Its approach combines cultural preservation with enterprise development, demonstrating how creative institutions can generate both social and economic value.

Speaking on the partnership, Ethiopis Tafara, IFC Vice President for Africa, said: “Creative industries are a powerful source of jobs and opportunity, particularly for young people and women.

“This mandate partnership with TerraKulture reflects IFC’s belief that locally rooted creative institutions can play a meaningful role in inclusive growth.

“By strengthening platforms that professionalize creative talent and preserve cultural expression, we are supporting Nigeria’s long-term economic transformation.”

The mandate aligns with IFC’s broader strategy to formalize, finance, and scale creative enterprises across emerging markets, recognizing the sector’s strong multiplier effects across tourism, technology, and services, as well as its role in preserving cultural identity.

It also reflects the growing recognition of Africa’s vibrant creative scene and its potential to amplify African stories globally, grounded in local context and shaped through African perspectives.

Emphasizing the role of strategic partnerships in scaling Nigeria’s creative economy, Bolanle Austen-Peters, Founder, Terra Kulture, noted, “We value IFC’s confidence in Terra Kulture’s work. Their support enables us to expand platforms that nurture talent, tell our stories, and build a globally competitive creative sector. Strategic partnerships like this are essential to transforming the cultural ecosystem from passion-driven to industry-driven”

As Nigeria continues to pursue economic diversification, this mandate partnership signals a shared intent to explore how creative institutions can contribute to job creation, skills development, and sustainable livelihoods, while strengthening the country’s cultural capital.