WATCH THE VIDEO HERE The Federal Government has opened applications for the first phase of its Creative Economy Development Fund (CEDF), a game-changing initiative aimed at unlocking sustainable financing for Nigeria’s burgeoning creative and cultural industries. The fund, which recently received approval from the Federal Executive Council (FEC), was officially announced by the Federal Ministry of Arts, Culture, Tourism, and Creative Economy (FMACTCE). Positioned as a catalyst for innovation, job creation, and economic diversification, the Ministry noted that the CEDF marks a significant national investment in Nigeria’s creative ecosystem spanning 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. A second phase, tailored for SMEs and MSMEs seeking smaller funding amounts, is scheduled to launch on August 4, 2025. On the fund’s objectives, the Ministry highlighted that the CEDF will: This move toward IP-backed financing is being hailed as a pioneering strategy to unlock the untapped value of Nigeria’s rich creative assets. The Ministry noted that this initiative aligns with the federal government’s broader economic agenda to diversify away from oil and enhance Nigeria’s global cultural influence. Nigerians with eligible large-scale projects are encouraged to submit their applications before the May 30 deadline via the CEDF portal here. The Federal Executive Council meeting presided over by President Bola Tinubu on October 23, 2024, approved the establishment of the Creative Economy Development Fund to pool resources for those in the creative industry.
FG opens applications for Creative Economy Development Fund for Nigerian talents
