The Federal Ministry of Art, Culture, Tourism, and Creative Economy has announced the launch of the Creative Economy Development Fund (CEDF) — a strategic initiative aimed at supporting creatives, entrepreneurs, and organizations in Nigeria’s burgeoning creative sector.

The CEDF aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, targeting job creation, economic diversification, and the global promotion of Nigeria’s cultural assets.

Unveiling the initiative, the Honourable Minister, Barrister Hannatu Musa Musawa, described the fund as a transformative national investment to unlock the vast potential of Nigeria’s creative industries.

“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 Minister stated.

What CEDF Offers:

The fund provides tailored financial support through debt, equity, and grants, with a focus on:

Boosting innovation

Scaling production

Expanding market access

Leveraging intellectual property (IP) as a financial asset

It will also empower creatives to unlock value from assets such as film rights, music catalogues, digital content, and more.

Funding Options Include:

Affordable loans for businesses in film, music, fashion, publishing, art, gaming, and cultural tourism

Equity and quasi-equity investments in high-growth creative enterprises

Grants for innovative, socially impactful cultural projects

Support for using IP as collateral for financing

Application Timeline:

Phase One:

Open till May 30, 2025

Focused on mature projects seeking over $100,000

Project onboarding, incubation, and review: June–December 2025

Disbursement begins January 1, 2026

Phase Two:

Opens August 4, 2025

Targets MSMEs and SMEs seeking under $100,000

Disbursement starts April 1, 2026

Who Can Apply:

The fund is open to individuals, businesses, and institutions operating within the creative and cultural economy, including:

Writers, directors, and visual artists

Fashion designers, gaming studios, and cultural tourism providers

Digital platforms, media agencies, training institutions, legal consultants, and logistics providers

Applications will be assessed by independent professionals, with oversight from a private-sector-led investment committee. The fund will be independently and professionally managed, with Ministry of Finance Incorporated (MOFI) as the anchor shareholder.

Interested investors and development partners are invited to explore co-investment opportunities or support specific sub-funds within the initiative.