The Federal Government has launched the first phase of the Creative Economy Development Fund (CEDF), a strategic initiative aimed at driving sustainable financing for Nigeria’s expanding creative and cultural industries. The fund, recently approved by the Federal Executive Council, is expected to generate jobs, foster innovation, and help diversify the national economy.
Announced by the Federal Ministry of Arts, Culture, Tourism, and Creative Economy, the CEDF is part of a broader plan to position Nigeria as a global force in the creative economy. The fund will support sectors such as film, fashion, writing, digital media, gaming, and cultural tourism by enabling them to scale operations and attract global opportunities.
Applications for the first phase of the fund, which targets businesses seeking a minimum of $100,000, are open until May 30, 2025. A second phase, designed for MSMEs and SMEs in need of smaller funding, is scheduled to open on August 4, 2025.
The fund is open to a broad range of creative professionals and enterprises, including writers, publishers, artists, designers, filmmakers, gaming studios, digital platforms, and service providers in logistics, law, and training.
Applicants must submit a detailed business case with five-year financial projections, expected funding range, and supporting documents such as financial models, presentations, and IRR forecasts where available. Registration on the Creative Leap Accelerator Program (CLAP) is mandatory for all applicants.
The CEDF also introduces a forward-thinking approach by supporting the securitization of intellectual property, making it possible for creative entrepreneurs to use IP as collateral to access further funding. This approach reflects a broader vision to provide long-term capital access and build a financially resilient creative sector.
According to the Ministry, the initiative is not just a financial intervention but a deliberate strategy to stimulate economic growth and open new frontiers for Nigerian creatives. By targeting key players and service providers across the value chain, the fund aims to catalyze a ripple effect of development that boosts employment, supports youth enterprise, and strengthens Nigeria’s global cultural footprint.
Interested applicants can visit the official CEDF website to begin the application process.
