FG Launches CEDF Scheme To Empower Nigerian Entrepreneurs
The Federal Ministry of Art, Culture, Tourism, and Creative Economy has unveiled the Creative Economy Development Fund (CEDF), a bold new initiative aimed at providing financial support to individuals and businesses operating across the country’s thriving creative sectors.
The launch, announced in a statement by Nneka Anibueze, Special Adviser to Minister Hannatu Musawa, signals a strategic push under President Bola Ahmed Tinubu’s Renewed Hope Agenda. The initiative is expected to stimulate job creation, deepen economic diversification, and elevate Nigeria’s cultural influence on the global stage.
Minister Musawa described the fund as “not just a financial intervention but a call to action.” According to her, the CEDF represents a vital national investment to unlock the full potential of Nigeria’s creative industries—from film and fashion to digital content and cultural tourism. The goal, she said, is to empower innovators with the tools they need to grow, compete globally, and turn creativity into a sustainable economic engine.
The fund offers tailored support through a mix of debt, equity, and grant-based financing. It is designed to strengthen the financial infrastructure of high-growth businesses while also supporting socially impactful and innovative cultural projects. A particular emphasis is being placed on intellectual property—such as music catalogues, film rights, and digital content—as a bankable asset, opening new pathways for creatives to monetise their work.
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CEDF will be rolled out in two phases. The first phase, which is currently open and runs until May 30, 2025, targets mature projects seeking funding above $100,000. Successful applicants will undergo a review and onboarding process from June through December, with funds expected to be disbursed beginning January 1, 2026. The second phase, which opens in August 2025, will cater to small and medium-sized enterprises and individual entrepreneurs seeking under $100,000, with disbursements scheduled to start in April 2026.
Eligibility for the fund spans a wide array of players within the creative ecosystem. From writers, fashion designers, and filmmakers to gaming studios, digital platforms, media agencies, tourism operators, and even legal and logistics firms that support creative enterprises, the fund is open to both individuals and institutions with a clear vision and sustainable model.
Governance and oversight are central to the fund’s credibility. Applications will be assessed by independent professionals overseen by a private-sector-led investment committee. The fund itself will be managed independently and professionally, with the Ministry of Finance Incorporated (MOFI) acting as anchor shareholder. In addition, the ministry is encouraging investors and development partners to participate through co-investment opportunities or dedicated sub-funds.
According to the ministry, the CEDF is about more than just financing—it is about building a resilient, inclusive, and globally competitive creative economy. By equipping Nigeria’s creative talent with access to capital and institutional backing, the government hopes to drive innovation, foster entrepreneurship, and cement Nigeria’s status as a cultural powerhouse.
content credit: Agbetan Bisola
Image credit: premiumtimes.com
