To ensure that the Nigerian creative industry flourish and prosper, the Federal Ministry of Art, Culture, Tourism and Creative Economy has launched the Creative Economy Development Fund (CEDF).
According to the Minister, Hannatu Musawa, the Fund is a strategic national investment designed to unlock the vast potential of Nigeria’s creative sector, positioning it as a driver of economic growth and cultural diplomacy.
She declared that the CEDF is a bold step toward realising President Bola Tinubu’s Renewed Hope Agenda, aimed at fostering job creation, economic diversification, while enhancing Nigeria’s global cultural influence.
Musawa said: “The Federal Ministry of Art, Culture, Tourism and Creative Economy invites eligible creatives, entrepreneurs and organisations to apply for funding through the Creative Economy Development Fund.
“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.
“CEDF supports creative businesses by providing capital to scale production, expand market access and build resilience. It also allows creators to leverage intellectual property as a financial asset, unlocking the value of film rights, music catalogues, digital content, and other creative works.
“The initiative offers various funding options for creative businesses, including affordable loans and credit facilities for businesses across sectors such as film, music, fashion, art, publishing, gaming, and cultural tourism.
“Equity and quasi-equity investments in high-growth creative enterprises, grant funding for socially impactful and innovative cultural projects and focus on leveraging intellectual property (IP) as a bankable asset class for securing financing.”
The Minister emphasised that the fund provides tailored financial support through debt, equity, and grant funding to boost and promote innovation and increase global visibility for Nigeria’s creative assets, cultural project and tourism-linked enterprises.
She added that the application process would be rolled out in phases, with the first call for proposals opened till May 30, prioritising mature projects seeking over $100,000, while the second phase will open on August 4, 2025, focusing on Micro Small and Medium Enterprises (MSMEs) and Small and Medium Enterprises (SMEs) requesting under $100,000.
“Application review, project onboarding, incubation, and acceleration for phase one will take place from June to December 2025, with the disbursement of funds starting on January 1, 2026.
“For phase two, disbursements will start on April 1, 2026. The fund is open to individuals, businesses and institutions operating across the creative and cultural economy, including writers, directors, artists and fashion designers.
“Others include gaming studios, cultural tourism providers, training institutions, promoters, legal consultants, media agencies, digital platforms, and logistics companies,” she stated.
Musawa urged industry players seeking updates and additional information about the fund to contact CEDFnigeria.com. She said independent professionals would assess applications, with oversight from a private sector investment committee.
The CEDF is structured as an independent, professionally managed investment fund, with the Ministry of Finance Incorporated serving as the anchor shareholder. Therefore, interested investors and development partners should reach out to the ministry for co-investment opportunities or participation in specific sub-funds.