Creative Industry
Loan Opportunity for Creatives: Federal Govt Rolls Out Creative Economy Development Fund CEDF To Boost Industry
The Federal Ministry of Art, Culture, Tourism, and Creative Economy invites eligible creatives, entrepreneurs, and organisations to apply for funding through the Creative Economy Development Fund.
The CEDF is a bold step towards realizing President Bola Ahmed Tinubu’s Renewed Hope Agenda, aimed at fostering job creation, economic diversification, and enhancing Nigeria’s global cultural influence.
Flagging off the CEDF, the Honorable Minister of Arts, Culture, Tourism, and Creative Economy, Barrister Hannatu Musa Musawa said that the Fund is a strategic national investment designed to unlock the vast potential of Nigeria’s creative sector, positioning it as a driver of economic growth and cultural diplomacy.
“This is not just a financial intervention. It is a call to action for creatives, entrepreneurs, and industry enablers to scale their dreams and contribute to a thriving, inclusive creative economy,” the Minister said.
The fund provides tailored financial support through debt, equity, and grant funding to boost promote innovation, and increase global visibility for Nigeria’s creative assets, cultural projects, and tourism-linked enterprises.
CEDF supports creative businesses by providing capital to scale production, expand market access, and build resilience. It also allows creators to leverage intellectual property as a financial asset, unlocking the value of film rights, music catalogues, digital content, and other creative works.
The initiative offers various funding options for creative businesses, including; Affordable loans and credit facilities for businesses across sectors such as film, music, fashion, art, publishing, gaming, and cultural tourism. Equity and quasi-equity investments in high-growth creative enterprises, Grant funding for socially impactful and innovative cultural projects and focus on leveraging intellectual property (IP) as a bankable asset class for securing financing.
The application process will be rolled out in phases, with the first call for proposals open till May 30, 2025, prioritizing mature projects seeking over $100,000.
The second phase will open on August 4, 2025, focusing on Micro Small and Medium Enterprises MSMEs and Small and Medium Enterprises SMEs requesting under $100,000.
Application review, project onboarding, incubation, and acceleration for Phase One will take place from June to December 2025, with the disbursement of funds starting on January 1, 2026. For Phase Two, disbursements will start on April 1, 2026.
The fund is open to individuals, businesses, and institutions operating across the creative and cultural economy, including writers, directors, artists, fashion designers, gaming studios, cultural tourism providers, training institutions, promoters, legal consultants, media agencies, digital platforms, and logistics companies.
Applications will be assessed by independent professionals with oversight from a private sector investment committee. The Creative Economy Development Fund is structured as an independent, professionally managed investment fund, with the Ministry of Finance Incorporated serving as the anchor shareholder. Interested investors and development partners are encouraged to reach out regarding co-investment opportunities or participation in specific sub-funds.
For updates and additional information contact CEDFnigeria.com
Creative Industry
Musawa Highlights Art and Culture as Drivers of Public Sector Excellence at Legislative Mentorship Session
Joel Ajayi
The Minister of Art, Culture, Tourism and Creative Economy, Hannatu Musa Musawa, Esq., has emphasized the importance of integrating art and culture into public-sector excellence in Nigeria.
In a statement issued on Thursday in Abuja by the SA Media & Publicity, Office of the Honourable Minister, Federal Ministry of Art, Culture, Tourism and Creative Economy Nneka Ikem Anibeze, Phd.
Musawa made this known while addressing trainees at the 4th Legislative Mentorship Initiative (LMI), held at the National Institute For Legislative and Democratic Studies, Abuja on Thursday.
Themed ‘Building the next generation of Public Sector Leaders’, Minister Musawa highlighted art and culture as essential tools for national cohesion and identity, economic development and job creation, innovation and civic engagement, sustainable development, and projecting Nigeria’s soft power and global identity.
She noted that Nigeria’s rich cultural heritage is a unifying force that binds different ethnicities and elaborated on how Art and Culture is key to public-sector excellence in Nigeria.
“First, embracing and promoting art and culture helps to forge national cohesion and shared identity among Nigeria’s diverse populations. Integrating culture into public policy and governance transforms the creative and cultural sectors into engines of economic development, job creation and diversification. Cultural industries including crafts, music, film, design, heritage tourism can generate livelihoods, attract investment, expand exports, and reduce overreliance on a narrow set of economic activities.
“A society that values creativity and cultural expression tends to produce more resourceful citizens, fosters cross-cultural dialogue, and encourages public servants to be more adaptive, empathetic, and culturally aware while prioritizing culture and creative economy in public policy through frameworks, institutions, and infrastructure, demonstrates long-term vision and commitment to sustainable development,” Musawa said.
The Minister called for supportive policies, enabling legislation, and sustained commitment to fulfill this vision, including laws that protect intellectual property, incentivize investment in creative infrastructure, and integrate arts and culture into education and community development.
“Embedding art and culture at the heart of governance and public-sector planning is not a luxury, it is a necessity. It builds unity, drives economic growth, fosters innovation, strengthens institutions, and ensures that development respects and reflects the soul of the nation,” she emphasized.
Musawa thanked the founder of the Legislative Mentorship Initiative (LMI), Rt. Hon. Femi Gbajabiamila, Chief of Staff to the President, Bola Ahmed Tinubu, for his inspiring vision and unwavering commitment to cultivating Nigeria’s future public-service leaders.
Other speakers at the Legislative Mentorship Initiative include the Director General, Centre for Black and African Arts and Civilization Aisha Augie, Nigerian photo-journalist and documentary photographer Bayo Omoboriowo, Amb. Dapo Oyewole, Secretary-General Conference of Speakers and Presidents of African Legislatures amongst others.
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