The Federal Ministry of Art, Culture, Tourism, and Creative Economy has announced the introduction of the Creative Economy Development Fund which is tailored to roll out loan opportunities for creatives.
In a statement by Nneka Anibueze, Special Adviser to the minister of Arts, Culture and Creative Economy, Hannatu Musawa on Monday, the ministry invited 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,” the statement said.
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.
Credit: PUNCH
