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  The Federal Ministry of Arts, Culture, Tourism, and Creative Economy (FMACTCE) announces the launch of the Creative Economy Development Fund (CEDF), recently approved by the Federal Executive Council (FEC).
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Creative Economy Development Fund (CEDF) aims to fuel growth, foster innovation, and establish sustainable financing mechanisms within Nigeria’s creative and cultural industries. The CEDF reflects the government’s dedication to job creation, economic diversification, and enhancing Nigeria’s cultural presence globally. The fund represents a substantial national investment in the creative sector, acknowledging its crucial role as both an economic catalyst and instrument of cultural diplomacy.
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Core Objectives of the CEDF

  • Driving Creative Industry Growth: Providing essential capital for businesses across sectors, including film, music, fashion, art, publishing, gaming, and cultural tourism to expand their operations and access new markets.
  • Enhancing Financial Access: Creating new funding pathways for creative entrepreneurs and organisations, particularly those previously excluded from traditional banking loans and investment opportunities.
  • Generating Employment and Diversifying the Economy: Enabling creative businesses to scale operations, creating new jobs, especially for youth, while reducing dependence on oil and other conventional economic sectors.
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  • Transforming Intellectual Property into Financial Assets: Pioneering innovative methods to securitise and collateralise intellectual property, allowing creative professionals to use their IP (including film rights, musical compositions, and digital content) as legitimate assets for securing financing.
Applications close: May 30, 2025. Click HERE
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This article was first published on 8th May 2025
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I am a Lion, I love to hit heights that seem impossible so I can motivate others and prove doubters wrong. For me, impossible is nothing. I'm open to learning and I love to read, travel and meet new faces.

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