Sterling Bank Mobilises Public, Private Sectors for Tourism Growth

Nume Ekeghe

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, positioning the 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.

In his remarks, the Managing Director and Chief Executive Officer of 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.

The Honourable Minister of Arts, Culture, Tourism, and the Creative Economy, Mrs. Hannatu Musa Musawa, outlined the 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 financial institutions must design instruments that balance commercial sustainability with developmental impact.

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.