Ecobank Unveils Plan to Unlock $62 Billion Global Art Market for Local Artists

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Ecobank Nigeria is taking bold steps to position Nigeria and local artists to tap into the global arts market, worth a staggering $62 billion in revenue. At the commencement of the second edition of the +234 Art Fair in Lagos, Omoboye Odu, Head of SME, Partnerships and Collaboration at Ecobank Nigeria, emphasised the importance of investing in arts to promote Nigerian culture.

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“As a pan-African bank, Ecobank Nigeria is focused on solving financial inclusion challenges in Africa, and we’re working to ensure that Africa has a key place in the global art market,” Odu said. “We’re looking at how we can ensure that Nigerian artists, who are the most popular in Africa, are well represented.

The +234 Art Fair, curated by Soto Gallery in partnership with Ecobank Nigeria Limited and Africa Finance Corporation (AFC), aims to push local artists onto the global scene. Odu noted that the partnership, which began last year, has been a success.

Tola Akerele, founder of +234 Art Fair and Soto Gallery, explained that the fair is designed to help artists understand their position locally, regionally, and internationally and to grasp the market dynamics. “The goal is to get emerging and ungalled Nigerian artists elevated and contributing to the economy. It’s all about promoting Nigerian culture, heritage, creative economy, and more.”

The fair, themed “Championing Patronage in Nigerian Art,” will feature workshops, panel discussions, and fireside chats with industry experts. It will run from March 27 to 31, 2025, at the Ecobank Pan African Centre (EPAC).

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