The Nigerian Art market is valued at about $144 million, which gives us roughly N200 billion.
The market however remains in its infancy.
You can count Nigerian artists who have broken into the mainstream global art world with the fingers on your right hand.
Robert Mbonu, the stylish former banker and Art collector, is poised to change that.
Robert is about to launch his Art Exchange – Nigeria’s first of its kind exchange solely for the exchange of iconic works.
According to him, his exchange would attract works not younger than 10 years old, review them and funnel them to huge global galleries and auctioneers.
This would rev up revenues for artists, ensure proper pricing, standardise valuations and generally instil much-needed respect for the Nigerian artists internationally.
He is turning his elegant Ikoyi home into a private collectors’ den where exhibitions, discussions, deals and the like would take place.
Robert is an avid collector with a brilliant eye for iconic works.
His Ikoyi home is dotted with classic pieces from the masters that he has collected over time.
His precision in decor and high pristine taste, shows very elegantly in his mansion as he takes me through the beautiful place ensconced with some of the most valuable Nigerian Art that you can find in one place.
Edgar, the market is underserved – we will pull out revenue lines from sales, to auctions, to Art lending, to art securitisation, front-loading and more – he says in excitement.
Already, three of the biggest International auction houses have signed him up, and he has gone very far in cataloguing the works as he screens them for me to see.
A media launch is in the cards, a collectors’ evening is in the works, and an introductory party will soon drop.
Robert has come a long way from his very colourful banking career.
He built a very brilliant career in banking, reaching the peak as MD of the old Societe Generale Bank, from where he midwife’d its merger with another entity, which now birthed Heritage Bank with him as Executive Director.
He left Heritage Bank early, for advanced education, which took him to the US and UK, from where he shuttled to Nigeria.
Robert is a Risk Management expert, considered one of the best on the continent, and is expected to bring his risk management skills to bear as he starts this new journey.
I remain superbly excited at the prospect of him financially curating this huge gold mine and better positioning it for better engagement.
I wish him well.