The International Finance Corporation (IFC) has entered a strategic partnership with arts and culture centre Terra Kulture to drive the expansion of creative infrastructure and skills development in Nigeria.
The formal agreement was signed at a ceremony in Lagos, marking a significant step toward strengthening Nigeria’s creative and cultural industries.
Founded in 2003 by entertainment executive Bolanle Austen-Peters, Terra Kulture has established itself as a premier arts, culture, and educational hub located in Victoria Island, Lagos.
For over two decades, it has championed Nigerian languages, arts, and theatre, serving as a vital platform for cultural expression and talent development.
The IFC, the World Bank’s private sector arm and the largest global development institution focused on the private sector in emerging markets, will support the refurbishment and enhancement of Terra Kulture’s creative and training facilities.
The collaboration aims to reinforce Terra Kulture’s role as a flagship centre for nurturing talent across theatre, film, visual arts, and cultural production.
In a joint statement, the organisations emphasised that the partnership is designed to foster inclusive growth, job creation, and economic diversification.
Terra Kulture also noted that the agreement reflects IFC’s recognition of the creative economy as a strategic sector with strong potential to generate employment, promote entrepreneurship, and create meaningful opportunities for youth and women.
Ethiopis Tafara, IFC vice president for Africa, highlighted the importance of investing in creative institutions.
“Creative industries are a powerful source of jobs and opportunity, particularly for young people and women,” Tafara said.
“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 professionalise creative talent and preserve cultural expression, we are supporting Nigeria’s long-term economic transformation.”
On her part, Austen-Peters said: “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”.
