Business
Woodhall Capital in Partnership with Polaris Bank, UK & Lagos State Governments, Launch ₦1.5 Billion Fund to Scale Nigeria’s Creative Economy
Photo caption:L-R- Abimbola Ozomah, Executive Director, Polaris Bank; Mojisola Hunponu-Wusu, Founder/CEO, Woodhall Capital; Sola Carrena, MD/CEO, Helios Investment; Onyinyechi Aderigbigbe, Head, Brands & Marketing, Woodhall Capital; Jonny Baxter, British Deputy High Commissioner at the signing ceremony of the N1.5bn Creative Sector Fund & Launch of the Creative Currency Podcast at the weekend, Lagos
Woodhall Capital in partnership with Polaris Bank, Lagos and UK governments have announced the launch of a ₦1.5 billion Creative Sector Fund aimed at expanding access to structured financing for creative entrepreneurs meant to scale their output across fashion, film, music, and digital content. The fund was unveiled during the launch of the Creative Currency Podcast, an initiative designed to foster collaboration between creatives, financiers, policymakers, and global stakeholders. The platform will serve as both a podcast and policy engagement forum, tackling long-standing challenges such as limited access to finance, weak Intellectual Property(IP) enforcement, and the absence of scalable business infrastructure within the creative ecosystem.In May 2022, Polaris Bank partnered with the Lagos State Employment Trust Fund (LSETF) to establish a ₦1 billion funding initiative targeted at artisans in Lagos State.The objective of the partnership was to deliver critical financial support to empower skilled artisans and entrepreneurs within the MSME sector who had maintained active business operations for at least one year ultimately fostering wealth creation and economic inclusion across the state.At the launch event held on Thursday evening at the Ikoyi residence of the British Deputy High Commissioner, Polaris Bank’s Executive Director, Abimbola Ozomah, who sat on a panel at the launch, emphasized that the fund is a long-overdue response to the structural exclusion of creatives from formal financing systems. She described the initiative as a deliberate attempt to recognize creative endeavours, intellectual property as a bankable asset and to build a framework where creatives are treated as serious entrepreneurs capable of generating significant economic value.“This fund represents more than capital, it reflects our belief in Nigerian creativity as a global force,” said Polaris Bank’s Executive Director, Abimbola Ozomah. “We’re not just exporting talent. We’re exporting ownership, structure, and long-term value.”Founder and CEO of Woodhall Capital, Mojisola Hunponu-Wusu, reiterated the urgent need to redefine how the financial system engages with the creative sector. She committed to providing bespoke financial products, advisory services, and investor-matching support tailored specifically for the needs of creative MSMEs.The UK Government, through the British Deputy High Commissioner, Mr. Jonny Baxter, highlighted its longstanding commitment to Nigeria’s creative economy. The UK-Nigeria Creative Industries Partnership signed in 2024 was cited as a milestone in unlocking trade, investment, and collaborative opportunities between both countries. The Deputy High Commissioner praised the initiative as a blueprint for global creative cooperation.The Lagos State Government, a key driver of the initiative, reaffirmed its ambition to cement Lagos as Africa’s creative capital. According to the Governor’s representative, Representing the Governor, Mrs. Folashade Ambrose-Medebem, Honourable Commissioner for Commerce, Cooperatives, Trade and Investment, highlighted the state’s efforts in supporting the sector through progressive policy reforms, infrastructure development, and the provision of zero-interest loans of up to ₦10 million via the Lagos Creative Fund. These measures are designed to empower creatives to scale operations, access markets, and formalize their business practices.The newly launched Creative Currency Podcast is positioned to be more than a media channel. It is a knowledge-sharing ecosystem that brings together local talents, international investors, legal experts, and cultural stakeholders to explore opportunities, identify risks, and share solutions that will elevate Nigeria’s creative industries to global standards.Throughout the panel sessions, panelists emphasized the need for deeper structure, transparency, and professionalism in the sector. Creators were encouraged to develop clear business plans, maintain accurate financial records, formalize their operations, and assert their rights to royalties and IP protection.As conversations deepened, financial institutions acknowledged the need for a mindset shift. Traditional risk models, they agreed, must be reimagined to reflect the unique nature of creative enterprises many of which are driven by intangible assets, flexible revenue models, and export potential.The event concluded with a call to action: invest in the systems, not just the stories. Stakeholders were unanimous in their belief that a more structured, collaborative, and well-capitalized creative economy will deliver jobs, exports, and global relevance for Nigeria.Polaris Bank has built a strong footprint in financing MSME by committing billions of naira in loans to support MSME operations in Nigeria, with huge lending portfolio dedicated to empower micro, small, and medium businesses meant to grow businesses, create jobs, and build wealth.
Lagos, Nigeria – December 2025 – FBNQuest Merchant Bank has confirmed the successful completion of its ownership transition, following its divestment from First HoldCo Plc and acquisition by EverQuest Acquisition LLP, a new investor consortium led by Custodian Investment Plc.The Acting Managing Director, Afolabi Olorode, stated:“This marks a defining milestone in the Bank’s journey, one that reflects our consistent performance, institutional strength, and long-term potential. As we move forward under new ownership, our focus remains unchanged: delivering exceptional value to stakeholders, deepening market leadership, and building a sustainable institution for the future. We are grateful to all who have been part of this journey and remain focused on creating long-term value for our clients and stakeholders. The Bank remains fully operational, and all client relationships, services, and leadership structures continue uninterrupted.We thank our stakeholders for their continued trust and look forward to the next chapter of growth.
Lagos, November 2, 2025 – Ecobank Nigeria, a subsidiary of the leading Pan-African banking group, in partnership with the Yaba Art Museum (YAM) of Yaba College of Technology, has announced the launch of the Lagos Pop-Up Museum — a dynamic cultural and artistic experience set to run for three months at the Ecobank Pan African Centre (EPAC) in Victoria Island, Lagos. The exhibition opens on November 8, 2025, and will continue until February 10, 2026.
The Lagos Pop-Up Museum is conceived as a vibrant, citywide art and cultural advocacy platform. It will bring together artists, students, and the public through a blend of interactive exhibitions, workshops, performances, talks, innovation labs, and community engagement programs. Visitors can look forward to an inspiring mix of creativity, learning, and collaboration that celebrates both Lagos’ dynamism and Africa’s evolving cultural identity.
Speaking about the initiative, Bolaji Lawal, Managing Director/Regional Executive, Ecobank Nigeria, said the project reflects the bank’s belief in the power of culture to unite people and drive innovation.
“Through platforms like EPAC, we continue to nurture collaboration, entrepreneurship, and cultural exchange which are all key to building a thriving creative economy in Africa. This partnership with YAM reinforces our CSR values around education, innovation, sustainability, and African identity. It reflects our commitment to social impact, youth empowerment, and pan-African creativity,” Lawal said.
He noted that the collaboration embodies a shared vision to amplify creative voices, preserve cultural heritage, and inspire innovation, placing both institutions at the intersection of finance, education, and social development.
“Beyond promoting our Pan-African values, we want to make art and culture more accessible by helping people connect, learn, and express themselves through creativity,” he added.
In his remarks, Dr. Ibraheem Adedotun Abdul, Rector of Yaba College of Technology, described the project as an extension of the Museum’s well-known “Gown to Town” initiative, which connects academic creativity with the wider community.
“This project invites Lagos residents, creatives, policymakers, collectors, entrepreneurs, and everyday citizens to engage with contemporary culture,” he said. “It will be delivered in collaboration with Yabatech departments and a wide network of partners and cultural organizations, collectives, tech incubators, youth hubs, schools, international institutions, and alumni groups.”
Dr. Abdul added that the Lagos Pop-Up Museum represents a new era of inclusive, community-driven museum practice in Nigeria as one that uses art as a platform for social imagination, research, and civic dialogue.
The three-month activation will feature a rich lineup of experiences in a mutating sphere, from archival exhibits and heritage engagement and highlights on restitution, to maker-labs, a myriad of showcases, wellness activities, mixed disciplinary workshops, children’s sessions, screenings, performance art presentations, discussion sessions and more.
Exhibition highlights include:
- Homecoming – A visual journey responding to Nigerian artefacts repatriated from Europe and the Americas and the important work towards reclaiming national and indigenous heritage.
- Adoption – A civic-action space of Art donations and sales in support of youth development supporting tuition and emerging creatives that embrace the spirit of paying it forward.
- Drum Up – A celebration of the archive as a catalyst for development and collective memory, and intergenerational dialogues on a road towards the pan -African memory pool of FESTAC ‘77
- Deep Blue – Immersive works exploring water in its fantasy, mystery, science, and environmental consciousness, responsibility and our planetary significance inspired by Lagos’ waterways and coastal life.
Over its duration, the Ecobank Pan African Centre will transform into a vibrant hub of creativity and connection, expanding public access to contemporary art, creative education, and cultural engagement.
Nestlé Nigeria PLC has announced strong financial results in its 9-Month report, driven by
high growth. Key highlights for January to September 2025 Results :
Revenue Growth: Nestlé Nigeria PLC saw a robust 33% increase in revenue, totaling
N884.5 billion compared to 9M of 2024.
Operating Profit: The operating profit grew to N181.3 billion, a 63.6% increase from N110.8
billion in 9M of 2024.
Profit Before Tax: The profit before tax reached N127.9 billion, in contrast to the loss of –
N255.4 billion in the same period of 2024.
Profit After Tax: The profit after tax amounted to N72.5 billion, compared to a loss of –
N184.3 billion in 9M 2024.
Equity Position: The equity position improved by N72.5 billion.
Early payment of USD 20 million inter-group forex debt in Q3 2025
Summary of the results : Jan-Sept 2025
Jan-Sept 2025 Jan-Sept 2024
Revenue 884,536,899 665,289,761
Cost of Sales (557,661,594) (458,977,837)
Gross Profit 326,875,305 206,311,924
Results from operating activities 181,343,663 110,843,852
Finance income 1,785,024 2,930,478
Finance costs (55,173,305) (369,158,960)
Net finance costs (53,388,282) (366,228,482)
Profit /(loss) before income tax 127,955,382 (255,384,629)
Income tax (expense)/credit (55,473,301) 71,113,867
Profit /(loss) for the period 72,482,081 (184,270,762)
In his remarks on the results, Mr. Wassim Elhusseini, Managing Director and CEO of Nestlé
Nigeria PLC, stated, “The results for the nine months signify the sustainability of our return
to profitability since the fourth quarter of 2024. The topline growth of 33% during this period,
along with a profit after tax of N72.5 billion, clearly illustrate that our dedication to
operational excellence and our robust fundamentals are producing the desired outcomes.”
Looking ahead, he emphasized, “we remain focused on enhancing our margin
management initiatives, accelerating transformation of our business, while investing in
programs that create sustainable value for all our stakeholders, starting from our
employees, consumers and extending to our communities and partners across our value
chain.”
Nestlé Nigeria’s nine months 2025 results underscore the company’s resilience and
operational effectiveness, positioning it for continued success in navigating challenges and
seizing future opportunities.
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