The Federal Government of Nigeria, through the Ministry of Art, Culture, Tourism, and Creative Economy, has officially launched the Creative Economy Development Fund (CEDF) to empower creatives, entrepreneurs, and organizations within the cultural and creative industries.
In a statement released on Sunday by Nneka Anibeze, Special Adviser on Media and Publicity to the Minister, the initiative is positioned as a bold move under President Bola Ahmed Tinubu’s Renewed Hope Agenda, aiming to foster job creation, drive economic diversification, and enhance Nigeria’s global cultural influence.
Flagging off the fund, Minister of Arts, Culture, Tourism, and Creative Economy, Barr. Hannatu Musa Musawa, described the CEDF as a strategic national investment designed to unlock the immense potential of Nigeria’s creative sector and elevate it as a catalyst for economic growth and cultural diplomacy.
The CEDF is open to individuals, businesses, and institutions across the creative and cultural economy, including:
Writers and publishers
Artists and fashion designers
Filmmakers and directors
Gaming studios
Cultural tourism providers
Training institutions
Media agencies
Digital platforms
Legal and logistics service providers
“This is not just a financial intervention—it’s a call to action for creatives, entrepreneurs, and industry enablers to scale their dreams and contribute to a thriving, inclusive creative economy,” the Minister said.
The fund offers tailored financial support through a mix of debt, equity, and grant funding, all aimed at promoting innovation and expanding global visibility for Nigerian creative assets.
Key offerings include:
Affordable loans and credit facilities for businesses in film, music, fashion, publishing, gaming, and cultural tourism
Equity and quasi-equity investments in high-growth creative enterprises
Grant funding for socially impactful and innovative cultural projects
Leverage of intellectual property (IP)—enabling creators to use assets such as film rights, music catalogues, and digital content to secure financing
The application will be rolled out in two phases:
Phase One
Closes: May 30, 2025
Focus: Mature projects requesting over $100,000
Onboarding and review: June – December 2025
Disbursement: Begins January 1, 2026
Phase Two
Opens: August 4, 2025
Focus:MSMEs and SMEs requesting under $100,000
Disbursement: Begins April 1, 2026
How to Apply
Interested creatives, entrepreneurs, and organizations can apply via the official application portal: Apply here
Applications will be evaluated by independent professionals, under the oversight of a private-sector-led investment committee.
The CEDF is structured as an independent, professionally managed investment fund, with the Ministry of Finance Incorporated serving as the anchor shareholder. The fund welcomes participation from development partners and private investors interested in co-investment opportunities or specific sub-funds.
