- Safiu Kehinde
Nigeria’s arts and culture powerhouse, Terra Kulture, has struck partnership deal with the International Finance Corporation (IFC) in a bid to expand the country’s creative economy.
The deal, which reportedly aligned with IFC’s commitment to inclusive growth, job creation, and economic diversification, aimed towards supporting the expansion of creative infrastructure and skills development in Nigeria.
As contained in a statement made available to NPO Reports on Sunday, Terra Kulture maintained that the mandate partnership established a framework for collaboration aimed at strengthening Nigeria’s creative ecosystem by expanding access to professional creative spaces and training.
Under the mandate, the IFC agreed to 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.
Speaking on the partnership, Ethiopis Tafara, IFC Vice President for Africa, acknowledged the role of creative industries in provision of job opportunities.
“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.” Tafara said.
Emphasizing the role of strategic partnerships in scaling Nigeria’s creative economy, Bolanle Austen-Peters, Founder, Terra Kulture, harped on the need for strategic partnership in transforming cultural ecosystem.
“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” Austen-Peters said.
As Nigeria continues to pursue economic diversification, Terra Kulture tipped the partnership as signals of shared intent to explore how creative institutions can contribute to job creation, skills development, and sustainable livelihoods, while strengthening the country’s cultural capital.
The partnership is also said to align 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 reflected 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.
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.