NGX, Lagos Govt To Unlock Financing For Nigeria’s Creative Economy

Lagos State Governor Babajide Sanwo-Olu on Friday joined executives of the Nigerian Exchange Group (NGX Group) to perform the Closing Gong Ceremony at the Exchange in commemoration of the 2025 Lagos Fashion Week, reaffirming the state’s commitment to deepening access to capital market financing for Nigeria’s creative sector.

The event, held at the NGX headquarters in Lagos, brought together top government officials, capital market leaders, fashion entrepreneurs, and global celebrities, including American singer and fashion icon Ciara Wilson, to discuss how the creative economy can leverage capital market instruments to scale innovation, sustainability, and global competitiveness.

Speaking at the ceremony, Sanwo-Olu commended NGX Group for spotlighting the potential of the creative economy as a growth driver, stressing that Lagos remains the hub of Africa’s cultural and creative renaissance.

He said his administration is committed to strengthening the creative ecosystem through access to finance, modern infrastructure, and enabling policies.

“Lagos stands at the forefront of Africa’s creative renaissance, a city where innovation, culture, and enterprise intersect,” Sanwo-Olu said. “By deepening linkages with the capital market through institutions like the NGX Group, we can unlock financing that empowers creative entrepreneurs to scale sustainably and compete globally.”

Group Chairman of NGX Group, Alhaji Umaru Kwairanga, described the ceremony as a model for collaboration between the capital market and emerging sectors, noting that the creative economy and financial markets share a common purpose—transforming ideas into enduring value. He commended the Lagos State Government for leveraging the market through bond issuances that have financed key infrastructure and social projects.

“Across the fashion value chain, there are countless SMEs with the potential to become industry leaders if they can access sustainable financing and institutional support,” Kwairanga added.

Group Managing Director/Chief Executive Officer of NGX Group, Mr. Temi Popoola, highlighted the Exchange’s commitment to driving innovation across all sectors of the economy, including fashion, music, film, and digital art.

“The creative economy represents one of the most dynamic frontiers of growth in Africa,” Popoola said. “We see immense potential in connecting creativity with capital, enabling designers, entrepreneurs, and innovators to grow sustainably through the structure and transparency the capital market provides.”

Also speaking, American entertainer Ciara Wilson praised Nigeria’s creative energy and the economic potential it represents, describing the partnership between Lagos State and NGX as a step toward building globally competitive creative enterprises.

“It’s amazing to see Lagos and Nigeria levelling up, not just creatively, but economically,” Wilson said. “Connecting that creativity to investment and structure is how you build something truly global and sustainable.”

Chairman of Style House Files and Lagos Fashion Week, Mr. Tokunbo Akerele, said the collaboration between NGX and Lagos Fashion Week reflects growing recognition of the creative industry as a major contributor to economic development.

“Engaging platforms like the Exchange helps amplify the message that the creative economy is an engine for growth, investment, and social impact,” Akerele said.

The ceremony also underscored the role of sustainability and environmental consciousness in creative enterprise, with participants emphasizing that integrating Environmental, Social, and Governance (ESG) standards enhances credibility, attracts long-term investments, and strengthens global competitiveness.

Through this collaboration, NGX Group and the Lagos State Government reaffirmed Lagos’ position as Africa’s emerging investment gateway for the creative economy, bridging the worlds of creativity and capital to unlock inclusive and sustainable growth.