Apply for Phase 1 of the Creative Economy Development Fund for firms in need of $100,000+

May 7, 2025 BusinessTrumpet

The Federal Ministry of Arts, Culture, Tourism, and Creative Economy (FMACTCE) is pleased to announce the rollout of the Creative Economy Development Fund (CEDF), a landmark initiative approved by the Federal Executive Council (FEC). Applications for phase 1 of the Creative Economy Development Fund for businesses in need of $100,000 and above is now open. Submit your application without delay. Submit your application here

The CEDF is designed to catalyze growth, innovation, and sustainable financing for Nigeria’s creative and cultural industries, in line with the government’s commitment to creating jobs, stimulating economic diversification, and boosting Nigeria’s global cultural footprint.

This Fund represents a significant national investment in the creative sector, recognizing its potential as a driver of economic growth and cultural diplomacy.

The fund will support creatives at all levels – from informal businesses and startups to formal enterprises – by using the appropriate financing tool for each case.
• For instance, a small music label might benefit from a low-interest loan, a fast- growing animation studio could seek an equity investment, while a cultural non-profit project could apply for a grant.

This flexible structure guarantees that the CEDF can address a wide spectrum of funding needs in the creative ecosystem. Importantly, all funding
decisions will be guided by rigorous investment criteria and an eye towards sustainability and impact. The CEDF will also champion accelerator
programs for early-stage ventures to strengthen capacity building across sub-sectors (film, fashion, music, gaming, etc.) ensuring a pipeline of investment-ready creative businesses in the future.

KEY OBJECTIVES OF Creative Economy Development Fund CEDF

- Stimulating Growth in Creative and
  Cultural IndustriesProviding the capital injection needed for
  businesses in sectors such as film, music, fashion,
  art, publishing, gaming, cultural tourism etc.,
  to expand production and reach new markets
- Increasing Access to Finance Opening up new financing avenues for creative entrepreneurs and organizations, including thosewho previously lacked access to traditional bank loans or investors.
- Supporting Job Creation and Economic Diversification Empowering creative businesses to scale up will lead to the creation of new jobs and livelihoods, especially for youth, while diversifying Nigeria’s economy beyond oil and other traditional sectors.
- Leveraging Intellectual Property (IP) as an Asset Establishing a transformative model for securitizing and collateralizing intellectual property. Creative talents will be able to leverage their IP (such as film rights, musical works, or digital content) as viable assets to secure financing – a pioneering move to unlock the value of Nigeria’s rich creative content.

Note: The Creative Economy Development Fund CEDF Application is in two phases.
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The PHASE 1 Application stage Opened on 28th April and closes on 30 May, 2025. This is for those whose businesses require more than $100,000. Application for Phase 1 has opened and will CLOSE ON MAY 30, 2025. APPLY NOW. Submit your application here
HASE 2 Application will open on 4th August and will be targeted at SMEs and MSMEs with smaller ticket size investments. This is for those requiring less than $100,000 and application will open on AUGUST 4, 2025

Who can apply for the CREATIVE ECONOMY DEVELOPMENT FUND CEDF

Who Can Apply – eligible businesses – Creative Economy Development Fund

These examples represent a non-exhaustive snapshot of Non-exhaustive list of potential applicants

Fashion

✓ Textile mills & tanneries
✓ Tailors & designers
✓ Fashion shows & retailers

Tourism

✓ Tour operators
✓ Booking platforms
✓ Local guides & hotel

Film & TV

✓ Writers & directors
✓ Post-production teams
✓ Cinema operators

Visual Arts

✓ Artists & producers
✓ Studios & labels
✓ Marketers & promoters

Cultural Heritage Music

✓ Heritage site managers
✓ Community artisans
✓ Festival organizers

Gaming & Animation

✓ Developers & studios
✓ 3D artists, voice actors
✓ Streamers & marketers

Publishing

✓ Authors & editors
✓ Printers & publishers
✓ Distributors & bookstores

✓ Artists & sculptors
✓ Galleries & curators
✓ Online art platforms

Who can apply for the CREATIVE ECONOMY DEVELOPMENT FUND CEDF 2

Who can apply for funding? Creative Economy Development Fund

The Fund is open to every part of the creative economy value chain — not just high-profile creatives, but also the suppliers, enablers, and marketers who make creative work possible

Eligibility – Creative Economy Development Fund

1. Individual Creators, Entrepreneurs, and Businesses operating in Nigeria’s creative and cultural industries.
2. Businesses operating within the tourism industry that are linked to the cultural and creative aspects of the value chain, including
infrastructure.
3. Must demonstrate a viable project plan, legal rights to use any relevant IP, and alignment with the Fund’s mission to strengthen the
creative sector.

Required Documentation – Creative Economy Development Fund

1. Primary documents: Project/business overview, financial plan (budget/revenue projections), legal/ownership details, and proof of IP ownership (if applicable).
2. Debt Window: Evidence of repayment capacity or collateral (which can include IP).
3. Equity Window: Pitch deck, growth strategy, corporate registration documents.
4. Grant Window: Detailed proposal outlining cultural/social impact, sustainability, project timeline, and budget breakdown.

How to Apply – Creative Economy Development Fund

1.Fill out the official CEDF Application Form (link available with the public Call for Proposals).
2. Submit all required documents before the deadline on the 30th of May 2025
3. Be prepared for follow-up questions or requests for clarification during evaluation

Evaluation and Selection – Creative Economy Development Fund

1.Fill out the official CEDF Application Form (available with the public Call for Proposals, also visit).
2. Submit all required documents before the deadline on the 30th of May 2025
3. Be prepared for follow-up questions or requests for clarification during evaluation

How it Works – Creative Economy Development Fund

These examples represent a non-exhaustive snapshot of the types of creatives and cultural entrepreneurs who can benefit
from the Creative CEDF.
Beyond headline creators—like designers, filmmakers, and musicians—the Fund also welcomes upstream suppliers (e.g.,
textile mills, tanneries, printers), mid-chain service providers (such as studios, editors, post-production teams, and curators),
and downstream platforms (e.g., retailers, distributors, e-commerce platforms, cinemas, and streaming services).
Whether you’re a traditional artisan, a cultural tourism tech startup, a record label, or a youth-led game development
team, if your work contributes to Nigeria’s creative or cultural ecosystem—you are eligible. The Fund is designed to address
fragmentation and empower the entire value chain to scale, collaborate, and thrive.

Call for Proposals – Creative Economy Development Fund

On the 28h of April 2025, the Ministry will issue the first public Call for Proposals (the “Call”) for the CEDF. Creative entrepreneurs, businesses, and
organizations across Nigeria are invited to submit their project proposals for funding consideration. This Call will be open for a period of 4 weeks ending
on the 30th of May 2025 during which interested applicants can apply to be part of the CEDF’s first batch of beneficiaries. Detailed guidelines including
eligibility criteria, documentation requirements, and submission instructions will be provided with the Call. Prospective applicants should be prepared to present a clear project overview or business plan, basic financial projections, information on team/ownership, and any relevant intellectual property documentation to demonstrate the viability and readiness of their project:

✓ Phase 1 of this Call will prioritize mature projects/businesses requiring significant funding (over $100,000) and with the necessary documentation in place.
✓ Phase 2 of this Call will prioritize proposals from MSME and SME businesses (under $100,000)
✓ Shortlisted proposals will undergo thorough evaluation by independent advisors and the CEDF investment committee.