The Federal Government has officially opened applications for the Creative Economy Development Fund a newly approved initiative designed to provide sustainable financing for the country’s creative and cultural industries.
This initiative announced by the Federal Ministry of Arts, Culture, Tourism, and Creative Economy, was recently approved by the Federal Executive Council and marks a significant step toward supporting sectors like film, music, fashion, design, and the arts.
It is set to play a key role in driving innovation, creating jobs, and promoting economic diversification in Nigeria. By investing in the country’s creative ecosystem, the fund will support industries like film, music, fashion, art, publishing, gaming, and cultural tourism.
According to the Ministry, the first phase of the fund open for applications is targeting large-ticket investments of $100,000 and above, with submissions closing on May 30, 2025.
The second phase of CEDF, aimed at SMEs and MSMEs, will open on August 4, 2025. This phase will provide smaller funding amounts, offering support to smaller businesses in Nigeria’s creative industries.
