Terra Kulture Partners IFC to Boost Nigeria’s Creative Economy

Yinka Olatunbosun 

In a move to strengthen Nigeria’s creative industry, Terra Kulture has entered into a mandate partnership with the International Finance Corporation (IFC) to expand creative infrastructure and support skills development across the country.

The partnership was formally signed on Friday, January 30, at Terra Kulture in Lagos. It reflects IFC’s recognition of the creative economy as a key driver of job creation, youth empowerment and economic diversification.

Under the mandate partnership, IFC will support the refurbishment of Terra Kulture’s creative and training facilities in Lagos. The collaboration aims to improve access to professional creative spaces and structured training opportunities, helping to build a more robust and organised creative ecosystem in Nigeria.

The partnership will also support the development, production and global dissemination of Nigerian stories from an African perspective. Through its training and production model, Terra Kulture equips young creatives with industry-relevant skills, professional networks and pathways into employment and entrepreneurship across theatre, film, visual arts and cultural production.

For more than two decades, Terra Kulture has played a significant role in preserving Nigerian languages, storytelling traditions and artistic expression. The institution has served as an incubator for actors, writers, technicians and creative entrepreneurs, combining cultural preservation with business development and demonstrating how creative institutions can generate both social and economic value.

Speaking on the partnership, IFC Vice President for Africa, Ethiopis Tafara, described the creative industries as a strong source of jobs and opportunity, particularly for young people and women.

“Creative industries are a powerful source of jobs and opportunity, especially for young people and women. This mandate partnership with Terra Kulture reflects IFC’s belief that locally rooted creative institutions can play a meaningful role in inclusive growth. By strengthening platforms that professionalise creative talent and preserve cultural expression, we are supporting Nigeria’s long-term economic transformation,” he said.

The partnership aligns with IFC’s broader strategy to formalise, finance and scale creative enterprises across emerging markets. IFC noted that the sector has strong linkages with tourism, technology and services, while also playing a vital role in preserving cultural identity. It further reflects growing global recognition of Africa’s creative sector and its potential to project African stories internationally from an African point of view.

Founder of Terra Kulture, Bolanle Austen-Peters, described the partnership as critical to the continued growth of Nigeria’s creative economy.

“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,” she said.

As Nigeria continues to pursue economic diversification, both organisations said the partnership signals a shared commitment to exploring how creative institutions can contribute to job creation, skills development and sustainable livelihoods, while strengthening the nation’s cultural capital.

The signing ceremony included a guided tour of Terra Kulture’s facilities, including its art gallery and 400-seat theatre. Guests also viewed a documentary highlighting the centre’s events, youth development programmes, films and stage productions produced by Bolanle Austen-Peters.

IFC, a member of the World Bank Group, is the world’s largest development institution focused on the private sector in emerging markets. Operating in more than 100 countries, it leverages capital, expertise and influence to create markets and opportunities in developing economies. In the 2025 fiscal year, IFC committed a record $71.7 billion to private companies and financial institutions, mobilising private capital to reduce poverty and promote sustainable development.

Founded in 2003 by cultural advocate and producer Bolanle Austen-Peters, Terra Kulture Arts and Studios Limited is widely regarded as one of Nigeria’s leading centres for arts and culture. Established to preserve and promote Nigerian languages, heritage and artistic traditions, the institution has grown into a major cultural hub housing an art gallery, bookstore, African restaurant, a world-class 400-seat theatre, and a thriving film and theatre production arm.

Over the years, Terra Kulture has helped shape Nigeria’s contemporary cultural scene by providing a platform for high-quality storytelling rooted in African identity. It has hosted and collaborated with renowned artists such as Femi Kuti, Burna Boy and Davido, while its theatre has staged acclaimed productions including Moremi, Dear Kaffy and Fela and the Kalakuta Queens, setting new benchmarks for stage production in the country.