Creative Economy Development Fund now open for Applications

The Federal Ministry of Arts, Culture, Tourism, and Creative Economy (FMACTCE) is pleased to announce the rollout of the Creative Economy Development Fund (CEDF or the “Fund”), a landmark initiative approved by the Federal Executive Council (FEC). The CEDF is designed to catalyze growth, innovation, and sustainable financing for Nigeria’s creative and cultural industries, in line with the government’s commitment to creating jobs, stimulating economic diversification, and boosting Nigeria’s global cultural footprint. This Fund represents a significant national investment in the creative sector, recognizing its potential as a driver of economic growth and cultural diplomacy. The Application will open from 28th April and end on 30th May 2025.

Key Objectives of the CEDF Stimulating Growth in Creative and Cultural Industries

1.  Providing the capital injection needed for businesses in sectors such as film, music, fashion, art, publishing, gaming, and cultural tourism to expand production and reach new markets. 
2. Increasing Access to Finance Opening up new financing avenues for creative entrepreneurs and organizations, including those who previously lacked access to traditional bank loans or investors.
3. Supporting Job Creation and Economic Diversification Empowering creative businesses to scale up will lead to the creation of new jobs and livelihoods, especially for youth, while diversifying Nigeria’s economy beyond oil and other traditional sectors. 
4. Leveraging Intellectual Property (IP) as an Asset Establishing a transformative model for securitizing and collateralizing intellectual property. Creative talents will be able to leverage their IP (such as film rights, musical works, or digital content) as viable assets to secure financing – a pioneering move to unlock the value of Nigeria’s rich creative content

For more information, please visit the Resources center on www.fmacce.gov.ng to download the CEDF Roll out strategy.