Federal Government Launches Creative Economy Development Fund To Boost Industry.
The Federal Ministry of Art, Culture, Tourism, and Creative Economy has rolled out the Creative Economy Development Fund (CEDF) to support creatives, entrepreneurs, and organisations in the industry. The fund aims to foster job creation, economic diversification, and enhance Nigeria’s global cultural influence.
The CEDF provides tailored financial support through debt, equity, and grant funding to promote innovation and increase global visibility for Nigeria’s creative assets, cultural projects, and tourism-linked enterprises. The fund supports creative businesses by providing capital to scale production, expand market access, and build resilience.
Eligible applicants include fashion designers, film directors, musicians, artists, tour operators, and video game developers, among others. The application process will be rolled out in phases, with the first call for proposals open until May 30, 2025, prioritizing mature projects seeking over $100,000.
The Minister of Arts, Culture, Tourism, and Creative Economy, Barrister Hannatu Musa Musawa, said the CEDF is a strategic national investment designed to unlock the vast potential of Nigeria’s creative sector. The fund is expected to contribute to the country’s economic growth and cultural diplomacy.
The CEDF offers various funding options, including affordable loans, equity investments, and grant funding for socially impactful and innovative cultural projects. The initiative also focuses on leveraging intellectual property as a bankable asset class for securing financing.
To apply visit http://CEDFnigeria.com
Applications will be assessed by independent professionals with oversight from a private sector investment committee. The fund is open to individuals, businesses, and institutions operating across the creative and cultural economy.
