Evaluating the Impact of the Lagos Creative Arts Festival on the Commercial Art Market in South West Nigeria

Major creative arts festivals serve as both cultural celebration events and commercial market activation mechanisms, and evaluating the specific economic and market development impacts of the Lagos Creative Arts Festival provides important evidence for arts event investment justification and commercial creative economy policy. This study evaluated the impact of the Lagos Creative Arts Festival on the commercial art market in South West Nigeria, drawing on data from the three most recent festival editions (2021 to 2023). A professional evaluation design was employed, combining review of festival organisational records, structured interviews with 20 participating artists and 10 gallery operators, a post-festival survey of 150 collectors and buyers who attended, and secondary analysis of Lagos commercial gallery sales data from festival and non-festival periods. Results showed that the festival generated an estimated 180 to 240 million naira in direct art sales per edition. First-time collector acquisition was reported by 34 percent of buyer survey respondents, indicating market development impact. Emerging artist visibility was significantly improved, with 62 percent of participating emerging artists reporting at least one new commercial relationship formed through festival exposure. Gallery participation rates declined in 2023 relative to earlier editions, attributed to increasing booth costs and logistical management concerns. The study concludes that the festival is an economically significant market development mechanism but requires structural governance improvements to sustain gallery engagement. Recommendations include tiered booth pricing, collector education programming, and systematic economic impact measurement protocols.

Keywords: creative arts festival, art market, Lagos, commercial impact, South West Nigeria