The Federal Government has launched the first round of the Creative Economy Development Fund (CEDF), offering funding support from $100,000 (₦150 million and above) to creative professionals across Nigeria. Applications are now live, and the submission deadline is set for May 30, 2025.
This new fund is designed to boost Nigeria’s creative and cultural sector, covering areas like film, music, fashion, publishing, art, gaming, and cultural tourism. The initiative is being led by the Federal Ministry of Arts, Culture, Tourism, and Creative Economy (FMACTCE), with strong financial backing including a $200 million (₦300B) commitment from Afrexim Bank.
What Is the Creative Economy Fund?
The CEDF is a bold step to give financial access to Nigeria’s creative talents, especially those who often struggle to get loans due to lack of physical assets. The fund introduces a system where intellectual property (IP)—such as music rights, films, or digital content—can now be used as loan security.
This method of funding is being celebrated as a smart way to open new doors for creatives who have long been left out of traditional finance systems.
What the CEDF Aims to Do
The Ministry says this fund will:
- Provide creative ventures with capital to grow
- Help businesses in the sector expand to bigger markets
- Drive job creation for Nigerian youth
- Open up new financing routes for creators without bank access
- Enable creators to use IP assets as collateral for loans
Who Is Eligible?
The current round is open to people or companies who need at least $100,000 (₦150 million) for large-scale creative projects. These could include full-length movie production, record labels, fashion lines for export, publishing houses, or digital creative platforms.
All applications must be submitted through the CEDF online portal before the May 30, 2025 deadline.
What’s Coming Next?
The second phase of this program will go live on August 4, 2025, and it will focus on supporting small and medium-sized businesses (SMEs and MSMEs) in the creative space with lower funding amounts.
This two-part rollout ensures that both large creative firms and smaller independent talents get access to funding opportunities.
Government Support and Vision
The creation of this fund was approved during the Federal Executive Council (FEC) meeting, chaired by President Bola Tinubu on October 23, 2024. After the meeting, Minister Hannatu Musawa explained that the fund aims to fill the gaps holding back Nigeria’s creative industry, especially the missing financial structures.
The CEDF is part of the wider national plan to move the economy beyond oil, push creative exports, and build Nigeria’s name as a top cultural hub globally.
Final Thoughts
This is a rare opportunity for creators in Nigeria to access real money, grow their brands, and take their talent to the world. If you work in the creative sector and have a large project in mind, don’t miss this chance to apply before May 30, 2025.