Creative Industry

CEDF Opens Phase 2 Loan Applications for Nigerian Creatives & Entrepreneurs

Published

1 year ago

August 24, 2025

Joel Ajayi

The Federal Ministry of Art, Culture, Tourism, and the Creative Economy has officially launched Phase 2 of the Creative Economy Development Fund (CEDF).
This is a bold national initiative designed to accelerate Nigeria’s creative and cultural industries by providing access to finance, skills, and market opportunities.

Building on the success of Phase 1, which saw thousands of Nigerian creatives and entrepreneurs apply for support, Phase 2 expands both the scope and scale of the Fund. This phase is specifically targeted at businesses and enterprises seeking to unlock growth, scale innovation, and create sustainable jobs in Nigeria’s creative economy.

The CEDF sits at the heart of Nigeria’s Renewed Hope Agenda, providing the financial backbone for transforming the country’s creative assets into engines of inclusive economic growth. Phase 2 introduces a streamlined application process through the official portal . The platform now features an intuitive and simplified new interface, ensuring that applicants can easily navigate funding opportunities, submit proposals, and track their application status without unnecessary hurdles. Beyond funding access, the portal provides real-time updates, resource materials, and a transparent process to strengthen trust and accountability.

This Phase 2 Call prioritizes proposals from businesses seeking funding of up to $100,000. The Fund is open across multiple creative sub-sectors, reflecting the diversity of Nigeria’s creative economy, including Film, Television, and Animation, Gaming, XR, and Interactive Media, Music and Entertainment, Literature and Publishing, Visual Arts and Crafts, Fashion and Design, Culinary Arts and Gastronomy, Tourism, Heritage, and Cultural Experiences, ensuring that no subsector is left behind in Nigeria’s creative renaissance.

Phase 2 is designed to fuel innovation, create jobs, strengthen SMEs and MSMEs, drive exports, and institutionalize growth through digital tracking and reporting tools. The Fund aims to support businesses that leverage creativity and technology to deliver new cultural products and services, expand the employment base of the creative economy, provide financial lifelines to entrepreneurs, position Nigerian creative content and cultural goods as competitive exports, and embed mechanisms for monitoring, accountability, and sustainability.

The launch of Phase 2 of the CEDF marks a significant milestone in Nigeria’s creative economy development, and the Ministry encourages all eligible businesses and enterprises to apply for funding and support.
Apply through the official portal www.cedf.gov.ng.

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Creative Industry

CAFA Targets $500bn Fashion Economy At Canex Wknd 2026

Published

2 weeks ago

November 1, 2026

The Gleamer

Joel Ajayi

The Confederation of African Fashion (CAFA) will present its roadmap to grow Africa’s fashion economy from an estimated $30 billion to $500 billion at CANEX WKND 2026 in Lagos.

Marking its first anniversary on November 5, CAFA will unveil a joint stand with the Federal Ministry of Art, Culture, Tourism and the Creative Economy at the Wole Soyinka Centre for Culture and the Creative Arts, formerly the National Arts Theatre, on November 5, 2026.

CAFA President, Aare (Prof.) Lai Labode, said the institution works with African governments to align sourcing, production, trade and intellectual property policies, ensuring African creativity generates greater value for African businesses and communities.

Nigeria became the first country to sign the African Fashion Industry Growth Charter on November 5, 2025, when the Honourable Minister Barr. Hannatu Musa Musawa signed on behalf of the Federal Government.

Speaking ahead of the unveiling, Minister Musawa said: “Afroliganza seeks to build a structured, values-driven fashion economy rooted in African heritage, led by African institutions, and positioned for global impact.”

On employment potential, the minister emphasized that Investment in fashion will create millions of jobs, particularly for women and youth.

Registered in Rwanda, with an office in Kigali and a desk at the Federal Ministry of Arts, Culture, Tourism and the Creative Economy, CAFA is also working with Nigeria’s Ministry of Foreign Affairs towards African Union adoption of the Charter. Rwanda is progressing towards becoming its second participating country and the first in East Africa.

Its first year saw fifty nations gather at the Egbaliganza-Lisabi Festival in Abeokuta and a signed MoU with Türkiye’s ASRIAD.

CAFA’s programmes promote processing African raw materials into finished apparel locally. ‘Own What We Create’ addresses intellectual property protection, while the CAFA Certified Seal and CAFA Heritage Mark support standards and authenticity. African Global Fashion Houses are currently being established across international markets.

The African Global Fashion Games will debut in Nigeria in 2028, bringing designers together under national colours. Held every three years, the Games will alternate between African and international hosts, combining competition with investor meetings, deal signings and policy discussions. Its Instant Craft event gives competing nations identical materials and a fixed clock, placing skill at the centre of the contest.

CAFA is inviting creatives, fashion designers, artisans, diplomats, economists, investors and policymakers to its CANEX stand. Visitors can explore the roadmap, ask questions and identify opportunities to contribute through design, manufacturing, investment, research, trade and international partnerships. The stand will be open daily from November 5 to 8.

CAFA calls on the African Union to adopt the Charter, and governments to sign the Games Register and form national teams.

“Fashion has always told the world who Africa is. Now Africa will decide what fashion pays,” Aare Prof. Lai Labode said.

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