FG rolls out CEDF loan to boost creative economy industry

The Federal Government has urged eligible creatives, entrepreneurs, and organisations to apply for funding through the Creative Economy Development Fund (CEDF).

The CEDF, according to the Ministry of Arts, Culture, Tourism, and Creative Economy, is a bold step towards realising President Bola Tinubu’s Renewed Hope Agenda, aimed at fostering job creation, economic diversification, and enhancing Nigeria’s global cultural influence.

Flagging off the CEDF, the Minister of Arts, Culture, Tourism, and Creative Economy, Hannatu Musawa, said 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 ministry, in a statement issued by its spokesperson, Dr Nneka Anibeze, on Sunday, May 4, 2025, 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.

Anibeze stated that the application process will be rolled out in phases, with the first call for proposals open till May 30, 2025, prioritising mature projects seeking over $100,000.

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Anibeze said 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.

He added: “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.”

The Star