FirstBank Nigeria Limited has articulated its reasons for sponsoring the Lagos International Theatre Festival, which it describes as a pioneering event in the state. During a press conference on Wednesday, the Managing Director of FirstBank, Olusegun Alebiosu, represented by Executive Director of Retail Banking South, Seyi Oyefeso, highlighted that this initiative is part of the bank's First@Arts Initiative.

First@Arts serves as FirstBank’s comprehensive platform aimed at enhancing its contributions to the arts sector. It supports the entire creative arts value chain by offering essential financing and advisory services, promoting industry achievements, and helping customers tap into the vast opportunities within the creative sector.

As part of this initiative, the bank recently backed the production of "Kurunmi," a stage play authored by the esteemed Ola Rotimi. The Managing Director expressed, “FirstBank takes pride in being the principal sponsor of this innovative event organized by Terra Kulture in collaboration with the Lagos State government. It is widely recognized that FirstBank has a deep appreciation for the creative industry, which has been integral to human culture since time immemorial. This is why our bank, through the First@Arts initiative, is committed to supporting and sponsoring the entire creative arts value chain, providing vital financing, promotion, and sponsorship programs to ensure the industry's success.”

This initiative has consistently empowered our numerous customers and partners to tap into the vast opportunities available within this industry. As a corporate entity deeply integrated into the societal framework, First Bank acknowledges the transformative influence of the arts, particularly theatre, in inspiring citizens and ultimately promoting national unity. It also serves as a venue for self-expression, cultural exchange, and social discourse.

For over 130 years, First Bank has been dedicated to empowering Nigerians by fostering national development through our participation in various initiatives. We are thrilled to be part of this journey, supporting creatives, enhancing the cultural landscape of Lagos, encouraging community involvement, and solidifying social impact.

Bolanle Austen-Peters, the founder of the LITF, remarked that the festival represents a vision the organization aims to realize, having cultivated numerous skills over the years.

"We have developed a wide array of skill sets and numerous production houses that have emerged from our efforts at Terra Kulture. We believed it would be beneficial to unite these talents as a community to establish a broader ecosystem for the arts to flourish."

The majority of us likely recall the significance of FESTAC '77 and its profound effects, both socially and economically. Our current endeavors are inspired by that legacy. We are welcoming performance troupes from around the world. Today, we are honored to have Mr. Stanley Richardson from the United States joining us for a performance, along with Mr. Isaac Kalumba from South Africa and Zambia.

This event represents a remarkable opportunity for us to unite Africans and Americans, along with participants from various corners of the globe, in Lagos to celebrate the transformative power of the arts. The arts serve as a powerful unifying force, bridging divides and fostering a shared language filled with joy and enthusiasm. I am pleased that FirstBank recognized this potential and became involved.

The implications of this initiative are substantial, particularly in terms of economic benefits. We anticipate numerous stalls featuring local artifacts and an increase in hotel bookings for visitors. Such events yield numerous ancillary advantages for our economy. This marks the beginning of a significant journey, one that promises to grow in scale and impact as we move forward.

Austen-Peters emphasized that LITF is dismantling the walls of ignorance by presenting diverse cultures from around the world. Festival Director Vanessa Jev revealed that more than 20 plays will be performed concurrently at four different venues throughout Lagos. The festival is scheduled to take place from Thursday (today) through Sunday.