FG launches creative economy development fund to boost Nigeria’s creative sector
The federal government has taken a significant step towards enhancing the creative landscape in Nigeria by launching the Creative Economy Development Fund (CEDF).
The initiative aims to support creative professionals, entrepreneurs, and cultural organizations across the country.
In a statement released by the Ministry of Arts, Culture, Tourism, and Creative Economy, the fund was formally announced on Sunday. The ministry highlighted that the primary goal of the CEDF is to scale projects that demonstrate solid financial documentation and articulate clear plans for expansion.
The initial application phase opened on April 28 and is set to close on May 30. This phase specifically targets established businesses seeking funding in excess of $100,000. Eligible applicants range from fashion designers and filmmakers to musicians, artists, tour operators, gaming developers, and other key players within Nigeria’s vibrant creative economy.
Minister of Arts, Culture, Tourism, and Creative Economy, Hannatu Musa Musawa, emphasized the importance of this initiative, stating, “This is not just a financial intervention. It is a call to action for creatives, entrepreneurs, and industry enablers to scale their dreams and contribute to a thriving, inclusive creative economy.” The fund aligns with President Bola Tinubu’s ‘renewed hope agenda,’ focusing on job creation, cultural promotion, and economic diversification.
The CEDF is designed to provide capital for scaling production, expanding market access, and building resilience within creative businesses. It also aims to empower creators to leverage intellectual property as a financial asset, unlocking potential from film rights, music catalogues, digital content, and more.
According to the ministry, “CEDF offers various funding options for creative businesses, including affordable loans and credit facilities for sectors such as film, music, fashion, art, publishing, gaming, and cultural tourism.”
To apply for the fund, interested parties must visit CEDFnigeria.com, fill out the official application form, submit project proposals, and provide all necessary financial documentation. The evaluation process will be conducted by independent experts with oversight from a private sector-led investment committee.
Once selected, applicants can expect support to begin in January 2026 for phase one and in April 2026 for phase two, which will open on August 4, focusing on micro, small, and medium enterprises (MSMEs) and small and medium enterprises (SMEs) seeking less than $100,000.
The CEDF represents a strategic investment aimed at unlocking Nigeria’s creative potential and fostering a dynamic cultural economy.
