Industry leaders, creatives, and entrepreneurs gathered on August 12, 2025, for the inaugural QED Creative Powerhouse Summit, aimed at addressing challenges and opportunities in Nigeria’s creative economy.
Opening the summit, Olumide Iyanda, Publisher of QEDNG, welcomed participants before Udeme Ufot, MFR, noted that while Nigeria is rich in creative talent, it needs the capacity and influence to achieve long term goals.
Keynote speaker Dr. Nkiru Balonwu, in her address “Financing as Catalyst for a Thriving Creative Economy”, stressed that the sector’s problem is not the absence of capital but the lack of scalable frameworks, accessible funding, and alignment among stakeholders. She called for stronger collaboration between government, the private sector, and individuals, highlighting both the benefits and risks of AI in creative industries.
The panel session, moderated by Anike-Ade Funke Treasure, featured Mike Dada, President and founder of all Africa Music Awards (AFRIMA); Kunle Afolayan, Founder of Golden Effects Pictures; Joseph Edgar, Founder of Duke of Shomolu production; and Mary Ephraim Egbas, Founder of Africa Films Finance Forum (AFFF). Mike Dada spoke passionately about his vision, saying, “I went into this because I’m looking for a platform to communicate Africa to the rest of the world,” explaining that he saw music as a vehicle to convey that value. He noted that while funding can be challenging, it is not impossible if entrepreneurs build credibility and offer clear value. He emphasized that Nigeria’s creative industry was built on private initiative and warned that over-reliance on government support limits growth. Dada also addressed AI’s growing influence, urging creatives to focus on what makes them uniquely human to remain competitive.
Kunle Afolayan stressed the importance of caution in collaborations, sharing a personal experience where he turned down a deal that would have taken 49 percent equity in one of his productions. Joseph Edgar questioned the accuracy of the reported 1.2 percent creative GDP contribution in 2020 and called for stronger industry structures. Mary Ephraim Egbas highlighted the need to restructure the sector with financing at its core, and all panelists agreed on building a more structured creative ecosystem.
The summit also featured a cultural performance by Art Niger Performance Troupe, a brief award presentation, and a vote of thanks by Motunrayo Iyanda.
