Nigeria’s creative economy is set for a new phase of growth following a mandate partnership between Terra Kulture and the International Finance Corporation (IFC), a member of the World Bank Group. Signed on January 30, 2026 in Lagos, the partnership is focused on strengthening creative businesses, expanding opportunities for young people and women, and building a more structured and sustainable creative industry in Nigeria.
The initiative places culture at the centre of economic development. It recognises that film, theatre, music, visual arts and storytelling are not side industries but real drivers of jobs, skills and long term value. By working with Terra Kulture, the IFC is backing an institution with a strong track record in turning creativity into enterprise.
“I am pleased to announce a mandate partnership with the International Finance Corporation (IFC), a member of the World Bank Group, to support the growth of Nigeria’s creative economy.
This collaboration advances Terra Kulture’s long standing commitment to building sustainable, scalable pathways across the creative value chain with a focus for young people and women,” said Bolanle Austen-Peters, Founder of Terra Kulture.
The partnership signals confidence in Nigeria’s creative sector at a time when young people are searching for viable careers and women are demanding more space in economic leadership. It also reflects a wider shift in how development finance institutions view culture. Creativity is no longer treated only as expression. It is being recognised as industry.
Building jobs skills and inclusive growth
At its core, the IFC and Terra Kulture partnership is designed to make the creative economy more professional and more accessible. The focus is not only on funding projects but on strengthening the systems that allow talent to grow into businesses.
One key area is skills development. Through industry relevant training, mentorship and structured programmes, young creatives will be better equipped to turn talent into sustainable careers. This responds to a long standing gap in Nigeria’s creative sector where passion often exists without the tools needed to scale.
The partnership will also support the refurbishment and improvement of Terra Kulture’s facilities in Lagos. Better infrastructure means better working conditions for writers, actors, directors, technicians and artists. It creates spaces that meet global standards while remaining rooted in local culture.
Women and youth are central to this strategy. The initiative aims to expand meaningful opportunities for them to participate in and lead creative enterprises. By doing so, it addresses both unemployment and gender gaps in the economy.
For the IFC, this partnership fits into a broader approach to development in Africa. As IFC Vice President for Africa Ethiopis Tafara has noted, locally rooted creative institutions play a critical role in driving real transformation. By supporting Terra Kulture, the IFC is investing in an organisation that understands Nigerian stories, audiences and markets from the inside.
Two decades of cultural enterprise
Terra Kulture Arts and Studios Limited, formerly Terra Kulture Limited – The Nigerian Cultural Centre, was established in 2003 to promote Nigerian languages, arts and culture. Over more than twenty years, it has grown into one of the country’s most influential cultural institutions.
Under the leadership of Bolanle Austen-Peters, Terra Kulture has combined culture with business in a way few organisations have managed. She has produced three award winning movies with two additional movies set for release. Her stage plays and musicals are among the most successful and globally recognised Nigerian productions. Beyond film and theatre, she has organised over 300 art exhibitions, 140 plays and more than 70 book readings.
Education has also been central to Terra Kulture’s work. More than 30,000 people have visited through school tours, excursions or Nigerian language classes. These experiences introduce young Nigerians to their cultural heritage while showing that culture can also be a career.
Today, Terra Kulture operates through five main units. BAP Productions is Nigeria’s leading theatre production company with award winning plays that have toured Europe, North Africa and Southern Africa. Its films have received international recognition and have been selected at major festivals including the Toronto and Chicago Film Festivals.
The Terra Kulture Restaurant has become a destination for Nigerian cuisine, known for its African inspired decor and atmosphere. The Arena, a 400 seat state of the art performance hall, is widely regarded as the home of theatre in Nigeria. It has hosted leading artists such as Burna Boy and Davido and also functions as a modern conference venue with advanced lighting and multimedia facilities.
The excursions unit welcomes tourists and students who come to learn about Nigerian food, art, stage plays and crafts, offering an immersive cultural experience.
The IFC partnership builds on this foundation. It supports Terra Kulture’s shift from passion driven activity to industry driven growth. For students at Terra Academy for the Arts, for emerging creatives and for entrepreneurs across the value chain, the initiative represents real opportunity.
More broadly, it sends a clear message. Nigeria’s culture is not just heritage. It is economic capital. With the right investment and structure, it can continue to create jobs, tell African stories to the world and remain one of the country’s strongest assets.
