First City Monument Bank (FCMB) has called for stronger institutional frameworks and ecosystem development to unlock the long-term growth potential of Nigeria’s creative industry.
The call was made by the Group Head, SheVentures and Impact Segments at FCMB, Mrs Nnenna Jacob-Ogogo, during a panel session at the 2026 BusinessDay Creative Entertainment Summit held in Lagos.
The summit brought together stakeholders from the creative industry, financial institutions, government agencies, development partners and the private sector to discuss reforms needed to position Nigeria’s creative economy for sustainable growth.
Jacob-Ogogo said although Nigerian creatives had continued to record remarkable global success, sustainable industry growth would depend on building a stronger ecosystem to support talent and creative enterprises.
According to her, the country’s creative industry has demonstrated resilience and innovation despite operating within an environment marked by structural challenges.
“The success stories we celebrate today are proof of the immense talent, creativity and entrepreneurial spirit that exist within Nigeria’s creative industry.
“However, for sustainable growth to occur, we must move beyond individual success stories and focus on strengthening the system that enables creative enterprises to scale, compete and create lasting economic value,” she said.
She noted that while access to finance remained important, capital alone would not address the industry’s challenges.
According to her, issues such as intellectual property protection, efficient royalty collection systems, business formalisation, governance standards, data transparency, distribution networks, industry infrastructure and capacity building require equal attention.
“These are the foundations that attract investment and support sustainable growth,” she said.
Jacob-Ogogo said strengthening institutional frameworks would boost investor confidence while enabling creative entrepreneurs to build scalable businesses capable of creating jobs, generating export earnings and contributing significantly to Nigeria’s economic development.
She said FCMB remained committed to supporting sectors that promote entrepreneurship, job creation and inclusive economic growth.
“At FCMB, we are intentional about supporting sectors that create opportunities and drive economic development.
“We understand that sustainable progress in the creative industry requires collaboration, knowledge sharing, capacity development and strategic partnerships that strengthen the broader ecosystem.
“Our role is to support initiatives and platforms that help creative entrepreneurs build stronger and more sustainable businesses,” she said.
Jacob-Ogogo added that through initiatives such as SheVentures and other entrepreneurship-focused programmes, the bank provides entrepreneurs with training, mentorship, business advisory services, networking opportunities and, where appropriate, financing solutions.
She reaffirmed FCMB’s commitment to collaborating with stakeholders across the public and private sectors to strengthen Nigeria’s creative economy and support entrepreneurs in competing effectively in the global marketplace.
