The Federal Ministry of Arts, Culture, Tourism, and Creative Economy (FMACTCE) is pleased to announce the rollout of the Creative Economy Development Fund (CEDF), a landmark initiative approved by the Federal Executive Council (FEC).
The CEDF is designed to catalyze growth, innovation, and sustainable financing for Nigeria’s creative and cultural industries, in line with the government’s commitment to creating jobs, stimulating economic diversification, and boosting Nigeria’s global cultural footprint.
This Fund represents a significant national investment in the creative sector, recognizing its potential as a driver of economic growth and cultural diplomacy.
KEY OBJECTIVES OF CEDF
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Stimulating Growth in Creative and Cultural Industries: Providing the capital injection needed for
businesses in sectors such as film, music, fashion, art, publishing, gaming, cultural tourism etc., to expand production and reach new marketsIncreasing Access to Finance :Opening up new financing avenues for creative entrepreneurs and organizations, including those who previously lacked access to traditional bank loans or investors.-
Supporting Job Creation and Economic DiversificationEmpowering creative businesses to scale up will lead to the creation of new jobs and livelihoods, especially for youth, while diversifying Nigeria’s economy beyond oil and other traditional sectors.Leveraging Intellectual Property (IP) as an AssetEstablishing a transformative model for securitizing and collateralizing intellectual property. Creative
talents will be able to leverage their IP (such as film rights, musical works, or digital content) as viable
Assets to secure financing – a pioneering move to unlock the value of Nigeria’s rich creative content.
Deadline: May 30, 2025
Click HERE to Apply
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