ABUJA – The Federal Government has launched the Creative Economy Development Fund (CEDF), a major financing initiative aimed at stimulating growth and innovation across Nigeria’s cultural and creative sectors. Approved by the Federal Executive Council (FEC), the fund is a core component of the Tinubu administration’s Renewed Hope Agenda for economic diversification and job creation.
Announced by the Federal Ministry of Arts, Culture, Tourism, and Creative Economy, the fund will provide tailored financial support—including loans, equity investments, and grants—to creative entrepreneurs and enterprises nationwide. It aims to unlock the economic value of intellectual property and expand Nigeria’s global cultural footprint.
“This is not just a financial intervention. It is a call to action for creatives, entrepreneurs, and industry enablers to scale their dreams,” said Minister Hannatu Musa Musawa during the official launch.
Phase One of the application process is now open, running from April 28 to May 30, 2025. It targets mature projects seeking more than $100,000 in funding. Eligible applicants include professionals in fashion, film, music, digital media, gaming, heritage, tourism, and related creative technology sectors.
Applications must be submitted via the official website, CEDFnigeria.com, along with project proposals and financial documentation. Projects will be evaluated by independent professionals under the supervision of a private-sector investment committee. Funding for successful applicants in Phase One will begin in January 2026.
Phase Two of the CEDF will launch on August 4, 2025, and focus on Micro, Small, and Medium Enterprises (MSMEs) seeking under $100,000. Disbursements for this phase are scheduled to start in April 2026.
Officials say the fund is a landmark national investment in the creative industry, providing much-needed capital to expand production, improve market access, and promote intellectual property as a viable financial asset.
