SIFAX boss seeks improved investment in creative industry to drive growth

The Group Chairman of SIFAX, Dr Taiwo Afolabi, has called for greater investment in Nigeria’s creative industry, urging stakeholders to transform African indigenous knowledge into sustainable innovation and economic value.

Afolabi made the call at the 39th International Conference and 40th Annual General Meeting of the Society of Nigeria Theatre Artists held at Lead City University, Ibadan.

The SIFAX boss was represented by Olumuyiwa Akande, Group Head, Corporate Communications, according to a statement by Akande, made available to the media on Monday in Lagos.

Akande said Afolabi served as Chairman of the occasion, adding that the conference opened on Aug. 19, 2026 with the theme “African Indigenous Knowledge Systems in Performance, Film and Sustainable Futures.”

Afolabi said indigenous knowledge preserved through storytelling, music, dance, drama and festivals remained a significant but underutilised national asset.

He stated that theatre and film played critical roles in preserving and repositioning heritage for contemporary audiences, while creating jobs and expanding Nigeria’s cultural influence globally.

“The real opportunity before us is to transform indigenous knowledge into contemporary cultural and economic value,” he said, urging deliberate action from stakeholders across government and private sectors”.

Afolabi challenged creative professionals, scholars, government, businesses and institutions to explore how indigenous stories could inspire globally competitive theatre productions and films for international markets.

He noted that technology should also be deployed to document knowledge traditionally transmitted orally, to preserve authenticity and expand access for researchers, educators and global audiences.

He cited African music’s international success as proof that local creativity, when professionally packaged, can drive economic development, employment, tourism and cultural diplomacy for the country.

Afolabi stressed that similar influence in theatre, film and cultural expressions requires sustained investment, professionalisation, collaboration and a deliberate commitment to quality across the ecosystem.

The SIFAX boss called for stronger partnerships among government, private sector, academia and creatives, adding that businesses should provide investment, technology and platforms beyond mere event sponsorship.

He urged participants to produce practical ideas, partnerships and recommendations that can influence policy and strengthen Nigeria’s creative ecosystem for long-term sustainability and global competitiveness.

“Let this conference be a bridge between our rich cultural past and the sustainable future we desire,” he said, describing indigenous knowledge as a future resource.

He emphasised authentic and responsible storytelling, urging African creatives to present the continent’s diversity and ingenuity in their own voices while avoiding stereotypes for global audiences.

Afolabi also received the Grand Excellence in Leadership Award in recognition of his contributions to developing the creative industry and supporting initiatives that promoted cultural growth.