Sterling Bank leads private, public partnerships to drive tourism

Sterling Bank Limited has convened senior government officials, industry regulators, institutional investors, hospitality operators, creatives, and traditional leaders in Lagos to drive coordinated action aimed at unlocking sustainable investment and long-term growth in Nigeria’s tourism and creative economy,.

The discussions aimed at positioning the tourism sector as a strategic pillar of economic diversification and job creation.

The high-level stakeholder engagement brought together public and private sector leaders to examine practical pathways for translating rising global interest in Nigerian culture, entertainment, and destinations into structured, year-round economic value.

Discussions focused on aligning policy direction, capital formation, infrastructure development, and enterprise support to strengthen the tourism and creative value chain.

Nigeria’s tourism and creative sectors have gained increased international visibility in recent years, driven by the global reach of Nigerian music, film, fashion, and cultural experiences. Seasonal travel peaks and diaspora engagement have contributed to rising demand for immersive Nigerian experiences. Participants at the forum emphasized, however, that sustained competitiveness requires coordinated frameworks that extend beyond episodic momentum and support long-term sector stability.

Managing Director, Sterling Bank Limited, Mr. Abubakar Suleiman, stated that tourism and the creative economy represent significant opportunities for employment generation, foreign exchange earnings, and inclusive growth. He noted that realizing this potential will require deliberate collaboration between policymakers, financiers, operators, and cultural institutions. According to him, durable sector expansion must be supported by aligned financing mechanisms, regulatory clarity, infrastructure investment, and talent development.

Minister of Arts, Culture, Tourism, and the Creative Economy, Mrs. Hannatu Musa Musawa, outlined Federal Government’s strategic priorities for the sector and reaffirmed its commitment to partnership-driven growth. She emphasized the importance of innovative financing structures, strengthened value chains, and structured public-private collaboration to unlock investment into tourism assets and creative enterprises. The Minister acknowledged the role of financial institutions in mobilizing capital and facilitating scalable industry development.

Also speaking at the engagement, the Special Adviser to President Bola Ahmed Tinubu on Tourism, Arts, and the Creative Economy, Mrs. Moriam Ajaga, reiterated the administration’s focus on policy coherence and improved access to finance under the Renewed Hope Agenda. She stressed the need for sustained institutional dialogue to ensure that policy reforms translate into investable opportunities and measurable economic outcomes. The Office of the Special Assistant to the President on Art, Culture, Tourism, and the Creative Economy, led by Mr. Ayomide Adeagbo, described the engagement as a platform for aligning regulatory direction with private capital and creative entrepreneurship.

Opening the proceedings, Sterling Bank’s Head of Tourism and Creative Arts, Mrs. Abiola Adelana, highlighted the importance of sector-specific financial solutions tailored to the operational realities of tourism operators, hospitality investors, and creative entrepreneurs. She noted that the industry requires financing models that reflect its revenue cycles and asset structures, and emphasized that financialinstitutions must design instruments that balance commercial sustainability with developmental impact.

Traditional leadership perspectives were also represented. The Oniru of Iru Land, Oba Abdulwasiu Omogbolahan Lawal, called for closer collaboration between custodians of cultural heritage, government authorities, and private investors to preserve and responsibly commercialize Nigeria’s historical and cultural assets. He emphasized that tourism growth must be anchored in sustainable stewardship to ensure long-term value.

Sustainability and green financing were central to the discussions. Sterling Bank’s Divisional Head for Renewable Energy, Mobility, and Tourism, Mr. Darlington Nwankwo, stated that tourism expansion must integrate environmentally responsible infrastructure and clean mobility solutions to remain competitive and resilient. He noted that embedding renewable energy financing within tourism development strategies is essential to building a sector aligned with global sustainability standards and long-term economic viability.

The engagement also referenced structured partnerships between financial institutions and creative enterprises. Sterling Bank’s collaboration with Dapo “D’Banj” Oyebanjo through the C.R.E.A.M. Foundation was highlighted as an example of how formal financial systems can strengthen monetization pathways, improve financial inclusion, and support scalable business models within the entertainment and creative industries. By providing structured banking services and advisory support, such collaborations aim to formalize and expand the commercial foundations of creative ventures.

Throughout the session, stakeholders converged on the view that unlocking Nigeria’s tourism and creative potential requires regulatory predictability, improved access to long-term capital, enhanced infrastructure quality, and consistent destination branding. Participants acknowledged that while global demand for Nigerian cultural experiences continues to rise, sustained competitiveness will depend on coordinated execution and measurable investment outcomes.

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Sterling Bank reaffirmed its commitment to supporting priority sectors with strong multiplier effects on employment and economic diversification. The Bank emphasized that its engagement in tourism and the creative economy aligns with its broader strategy of sector-focused financing, digital innovation, and sustainable development.

The forum concluded with a shared commitment to continued collaboration among stakeholders to translate dialogue into structured action and durable investment flows. Sterling Bank stated that it will continue to engage with government authorities, private investors, and industry participants to support the development of a resilient, investable, and globally competitive tourism and creative economy in Nigeria.