The Federal Ministry of Art, Culture, Tourism, and the Creative Economy has unveiled Phase 2 of the Creative Economy Development Fund (CEDF), a flagship initiative to accelerate Nigeria’s creative and cultural industries through access to finance, skills, and market opportunities.
By Chimezie Godfrey
The Federal Ministry of Art, Culture, Tourism, and the Creative Economy has unveiled Phase 2 of the Creative Economy Development Fund (CEDF), a flagship initiative to accelerate Nigeria’s creative and cultural industries through access to finance, skills, and market opportunities.
Announcing the launch, the Ministry said the second phase is “a bold step in unlocking the full potential of Nigeria’s creative economy,” stressing that the programme is part of the Renewed Hope Agenda of the Federal Government.
According to a statement signed by Nneka Ikem Anibeze, Ph.D., Special Assistant on Media and Publicity to the Minister, Phase 2 builds on the success of the maiden edition which recorded thousands of applications from creatives and entrepreneurs across the country.
“This phase expands both the scope and scale of the Fund, and is specifically targeted at businesses and enterprises seeking to unlock growth, scale innovation, and create sustainable jobs in Nigeria’s creative economy,” the statement read.
A key feature of Phase 2 is a streamlined application process through the official portal, www.cedf.gov.ng. The Ministry noted that the platform now comes with a simplified interface to allow applicants navigate funding opportunities with ease, submit proposals, and track applications.
“The Fund is not just about money. It is about trust, accountability, and impact. That is why the new portal provides real-time updates, resource materials, and a transparent process that strengthens credibility,” the statement added.
Businesses seeking up to $100,000 in funding are eligible to apply under this phase. The CEDF will cover multiple creative sub-sectors including film, television, animation, gaming, interactive media, music, entertainment, literature, publishing, visual arts, fashion, design, culinary arts, tourism, and cultural heritage.
Highlighting the wider goals, the Ministry said Phase 2 is designed to “fuel innovation, create jobs, strengthen SMEs and MSMEs, drive exports, and institutionalize growth through digital tools for tracking and accountability.”
The Fund, it said, will support enterprises that leverage creativity and technology to deliver cultural products, expand Nigeria’s employment base, and position the country’s creative content and cultural goods as competitive exports.
“The launch of Phase 2 of the CEDF is not just another funding round—it is a national milestone in our mission to transform Nigeria’s creative assets into engines of inclusive economic growth,” the statement concluded.