Emamuzo Iboma
The Federal Government of Nigeria has unveiled a groundbreaking initiative to support the country’s vibrant creative industry with over $100,000 in funding. Through the Ministry of Art, Culture, Tourism, and Creative Economy, the government has launched the Creative Economy Development Fund (CEDF) to empower creatives, entrepreneurs, and organisations in the cultural and creative sectors.
Announced on Sunday in a statement by Nneka Anibeze, Special Adviser on Media and Publicity to the Minister, the fund is a key component of President Bola Ahmed Tinubu’s Renewed Hope Agenda. It seeks to stimulate job creation, diversify the economy, and amplify Nigeria’s cultural presence on the global stage.
Minister of Arts, Culture, Tourism, and Creative Economy, Barr. Hannatu Musa Musawa officially launched the fund, describing it as a strategic national investment to unlock the vast potential of Nigeria’s creative talents. “This is not just a financial intervention—it’s a call to action for creatives, entrepreneurs, and industry enablers to scale their dreams and build an inclusive creative economy,” she stated.
The CEDF is open to individuals, businesses, and institutions involved in:
Writing and publishing
Fashion design and visual arts
Film production and directing
Gaming development
Cultural tourism
Training and education in the arts
Media and digital platforms
Legal and logistics services
Business management and support tools
Key features of the fund include:
Affordable loans and credit for businesses in film, music, fashion, publishing, gaming, and tourism
Equity and quasi-equity investments in high-growth creative ventures
Grant funding for socially impactful and innovative cultural initiatives
Support for leveraging intellectual property (IP), allowing creators to secure financing through assets like film rights, music catalogs, and digital content
The application process will roll out in two phases, with submissions reviewed by independent professionals under the oversight of a private-sector-led investment committee.
Structured as an independent, professionally managed investment vehicle, the fund is anchored by the Ministry of Finance Incorporated and is open to development partners and private investors interested in co-investment or targeted sub-funds.
