New Partnership Aims To Expand Creative Skills & Infrastructure In Nigeria
IFC and Terra Kulture Forge Strategic Partnership
THE International Finance Corporation (IFC) has deepened its engagement in Nigeria’s creative sector through a strategic mandate partnership with Terra Kulture, one of the country’s premier cultural institutions. The collaboration aims to strengthen creative infrastructure, expand skills development, and create meaningful economic opportunities for young people and women.
The signing ceremony marks IFC’s recognition of the creative economy as a high-potential sector capable of driving job creation, fostering entrepreneurship, and promoting inclusive economic growth. By supporting institutions like Terra Kulture, IFC is taking a proactive step toward formalizing and professionalizing Nigeria’s creative landscape.
Expanding Access to Creative Spaces and Skills
Under the mandate, IFC will support the refurbishment and modernization of Terra Kulture’s facilities in Lagos, enhancing its role as a hub for theatre, film, visual arts, and cultural production. The partnership will expand access to professional creative spaces and training programs, ensuring that emerging Nigerian creatives are equipped with industry-relevant skills, networks, and pathways into employment and entrepreneurship.
For more than two decades, Terra Kulture has played a vital role in preserving Nigeria’s languages, storytelling traditions, and artistic expression. Its integrated model blends cultural preservation with enterprise development, supporting actors, writers, technicians, and creative entrepreneurs while generating both social and economic value.
IFC Perspective on Creative Economy Potential
IFC Vice President for Africa, Ethiopis Tafara, highlighted the transformative potential of the creative industries, saying: “Creative industries are a powerful source of jobs and opportunity, particularly 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 professionalize creative talent and preserve cultural expression, we are supporting Nigeria’s long-term economic transformation.”
The partnership aligns with IFC’s broader strategy to formalize, finance, and scale creative enterprises across emerging markets. The sector has strong multiplier effects across tourism, technology, and services, while also preserving cultural identity. The collaboration also reflects growing global recognition of Africa’s creative potential, particularly its ability to tell African stories from an authentic perspective.
Terra Kulture’s Role and Vision
Bolanle Austen-Peters, Founder of Terra Kulture, emphasized the importance of strategic partnerships in transforming the cultural sector. “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.
Terra Kulture, established in 2003, has grown into a multifaceted cultural institution. It houses an art gallery, bookstore, authentic African restaurant, a 400-seat theatre, and a thriving theatre and film production arm. The venue has hosted acclaimed artists such as Femi Kuti, Burna Boy, and Davido, while staging successful productions including Saro, Moremi, Dear Kaffy, and Fela and the Kalakuta Queens.
Economic Diversification and Inclusive Growth
The IFC-Terra Kulture mandate partnership signals a broader commitment to leveraging Nigeria’s creative economy for inclusive growth. By expanding access to professional training and infrastructure, the collaboration creates pathways for employment and entrepreneurship, while preserving and promoting Nigerian cultural heritage.
As a member of the World Bank Group, IFC has extensive experience in mobilizing private capital to create markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in emerging markets, supporting economic transformation and poverty reduction.
Through this partnership, IFC and Terra Kulture are setting a blueprint for how cultural institutions can simultaneously preserve heritage, empower creatives, and contribute to Nigeria’s economic diversification agenda.
