Afolabi Advocates Greater Investment In Creative Industry, Calls For Transformation Of Indigenous Knowledge Into Economic Value
By Rashidat O. Okunlade, Lagos
Dr. Taiwo Afolabi, Chairman of SIFAX Group, has called for greater investment, collaboration, and professionalisation of Nigeria’s creative industry, stressing that African indigenous knowledge must be transformed from cultural heritage into a sustainable source of innovation, economic value, and opportunity for future generations.
Afolabi made the call at the 39th International Conference and 40th Annual General Meeting of the Society of Nigeria Theatre Artists (SONTA), held at Lead City University, Ibadan, where he served as Chairman of the Occasion. The conference, which opened on August 19, 2026, was themed “African Indigenous Knowledge Systems in Performance, Film and Sustainable Futures”.
Indigenous Knowledge as an Underutilised Asset
Represented at the event by Olumuyiwa Akande, Group Head, Corporate Communications, Afolabi said Nigeria’s indigenous knowledge preserved for generations through storytelling, music, dance, drama, festivals, proverbs, traditional music and other cultural expressions represents a significant but underutilised national asset.
According to him, theatre and film play a critical role in preserving and repositioning this heritage for contemporary audiences.
“The real opportunity before us is to transform indigenous knowledge into contemporary cultural and economic value,” he said.
He challenged creative professionals, scholars, government, businesses and cultural institutions to explore how indigenous stories can inspire globally competitive theatre productions and films, while also deploying technology to document knowledge that has traditionally existed largely through oral transmission.
Creative Industry as Economic Driver
Afolabi noted that Nigeria’s creative industry has significant potential to drive economic development, employment, tourism, cultural diplomacy and the country’s global reputation, citing the international success of African music as evidence of what can be achieved when local creativity is professionally packaged for global audiences.
He stressed, however, that achieving similar global influence in theatre, film and indigenous cultural expressions would require sustained investment, professional standards, collaboration and a deliberate commitment to quality.
The Chairman also called for stronger partnerships among government, the private sector, academia, creative professionals and cultural institutions, noting that businesses could contribute beyond sponsorship through investment, technology, capacity building and platforms that enable creative entrepreneurs to thrive.
Authentic Storytelling and Sustainable Future
He urged participants to ensure the conference produces practical ideas, partnerships, and recommendations that can influence policy and strengthen Nigeria’s creative ecosystem.
“Let this conference be a bridge between our rich cultural past and the sustainable future we desire,” he said, adding that indigenous knowledge should not be viewed merely as a memory of Africa’s past, but as a resource for determining its future.
Afolabi further emphasised the importance of authenticity and responsible storytelling, urging African creatives to tell their stories in their own voices while avoiding stereotypes and presenting the continent’s diversity, ingenuity and cultural richness to global audiences.
Recognition of Leadership
At the event, Afolabi also received the Grand Excellence in Leadership Award in recognition of his leadership and contributions to developing the creative industry.
The recognition came as stakeholders continued discussions on the role of indigenous knowledge in performance, film and sustainable development, reinforcing the growing argument that Nigeria’s cultural resources should be treated not only as heritage to be protected, but also as intellectual, creative and economic assets capable of generating jobs, stimulating innovation and strengthening the country’s influence globally.
