Ubi Franklin Calls on Banks to Raise $100 Million Fund for Upcoming Artists

Music executive and entrepreneur Ubi Franklin has called on the Nigerian banking sector to establish a $100 million fund dedicated to supporting entertainment, especially emerging artists and the broader creative industry.

During a discussion on the Afropolitan podcast, Franklin emphasized the ongoing issue of limited formal financing for music and entertainment projects in Nigeria. He pointed out that banks have historically been hesitant to invest in the sector, often perceiving it as high-risk compared to more traditional industries.

Franklin suggested that the Bankers’ Committee could pool resources to create a dedicated fund. This would allow artists and entertainment firms to access loans, provided they have suitable security or collateral to safeguard the investment and ensure repayment.

He highlighted the sizable foreign revenue generated by Nigerian music through international labels and distributors, arguing that local banks could play a more active role in channeling and supporting that value domestically.

Franklin, founder of Made Men Music Group (Triple MG) and known for his work with artists such as Iyanya and Tekno, has long advocated for improved structures within the Nigerian music industry. His remarks underline the capital-heavy nature of talent development, where launching a new artist often demands significant investment with no guarantee of returns.

This proposal arrives amid increasing recognition of Nigeria’s creative economy as a potential driver of jobs, exports, and cultural influence. Whether the banking sector will embrace this challenge remains to be seen, but Franklin’s call adds a notable industry voice to the discussion on financing the next wave of Nigerian artists.