The Nigerian visual Art market hit sales at about $7m in 2025, which gives us roughly 10% of the African Art Market.
The market however remains in its infancy and fragmented.
You can count Nigerian artists who have broken into the mainstream global art world with the fingers on your right hand
Robert Mbonu, the former banker and Art collector, is poised to change that.
Robert is about to launch his Art Exchange – Nigeria’s first of its kind Art repository portal to showcase iconic works that are 10yrs and older.
According to him, his exchange is poised to create visual art as an alternative asset class, review and funnel them to huge global galleries and auctioneers.
This would contribute to National GDP, 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 office 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 office 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 space 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 global visual Art market hit sales of $56b in 2025. Africa and Nigeria is underserved – we will pull out revenue lines from sales, to auctions, to Art backed lending, to art insurance, securitisation, front-loading and more” – he says in excitement
A member of The British Museum, Tate and National Gallery UK, MoMA and The Met New York. 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 display.
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 banking career.
He reached the peak as MD of the French International Societe Generale Bank, from where he led the restructuring of the bank and soon after exited the industry.
He left banking, for advanced education at Stern New York University, and qualified at the UK Institute of Risk Management, from where he shuttled to Nigeria
An Enterprise Risk Management expert, he is considered one of the best on the continent, and is expected to also 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.
Barnaby&Edgar is providing advisory and Strategic communications advisory services to the Art Exchange
Thanks
Duke of Shomolu
