IFC deepens commitment to Nigeria’s creative economy through partnership with Terra Kulture
By Editor
IN line with its commitment to inclusive growth, job creation and economic diversification, the International Finance Corporation (IFC) today formally marked a mandate partnership with TerraKulture to support the expansion of creative infrastructure and skills development in Nigeria. The signing reflects IFC’s recognition of the creative economy as a strategic sector—one that supports employment, nurtures entrepreneurship, and creates meaningful pathways for young people and women to participate in the economy.
The mandate partnership establishes a framework for collaboration aimed at strengthening Nigeria’s creative ecosystem by expanding access to professional creative spaces and training. It supports the growth of a vibrant creative scene that enables Nigerian stories to be developed, produced, and shared from an African perspective on the global stage.
Under the mandate, IFC will 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. 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.
Speaking on the partnership, IFC Vice President for Africa, Ethiopis Tafara, said: “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.”
IFC Vice President for Africa, Mr. Ethiopis Tafara (left) and Founder of Terra Kulture, Mrs. Bolanle Austen-Peters signing the partnership agreement… in Lagos
The mandate aligns 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 reflects 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.
Emphasizing the role of strategic partnerships in scaling Nigeria’s creative economy, Founder of Terra Kulture, Bolanle Austen-Peters, noted, “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”
As Nigeria continues to pursue economic diversification, this mandate partnership signals a shared intent to explore how creative institutions can contribute to job creation, skills development, and sustainable livelihoods while strengthening the country’s cultural capital.
A member of the World Bank Group, IFC is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise and influence 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 developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.
Terra Kulture Arts and Studios Limited is Nigeria’s premiere destination for arts, culture and creative expression. Founded in 2003 by renowned cultural advocate and producer, Mrs. Austen-Peters, the institution was established to preserve, promote, and celebrate the richness and diversity of Nigerian languages, heritage and artistic traditions. Over the past two decades, Terra Kulture has evolved into a multifaceted cultural powerhouse, housing an art gallery, bookstore, authentic African restaurant, a world-class 400-seater theatre arena, and a thriving theatre and film production arm. It has played a pivotal role in shaping Nigeria’s contemporary cultural landscape by providing a home for high quality artistic production and storytelling rooted in African identity.
As a cultural landmark, Terra Kulture has hosted and collaborated with globally acclaimed artists and performers, including Femi Kuti, Burna Boy and Davido, cementing its reputation as a hub for excellence in the arts. Its theatre has also staged critically acclaimed and commercially successful productions such as Saro, Moremi, Dear Kaffy and Fela and the Kalakuta Queens, attracting diverse audiences and setting new standards for stage production in Nigeria.
Through its consistent commitment to excellence, cultural preservatio, and innovation, Terra Kulture continues to stand at the forefront of Nigeria’s creative industry, championing African stories and elevating them to world-class platforms.
