Over $326M Requested as FG Opens Creative Fund
In just 30 days since applications opened, 1,230 businesses and creatives have applied for funding under Nigeria’s new Creative Economy Development Fund (CEDF) , requesting a total of $326 million .
The fund, launched by the Federal Ministry of Arts, Culture, Tourism, and Creative Economy (FMACTCE) , aims to support innovation, job creation, and economic diversification across Nigeria’s creative sector.
Applicants include both creative and non-creative businesses , showing strong interest in the program.
Of those who applied:
- 71% requested grants
- 11% chose debt financing
- 7% opted for equity investment
This early surge highlights the high demand for structured financial support among Nigeria’s creative entrepreneurs.
Government Launches First Phase of CEDF
The Federal Executive Council (FEC) recently approved the first phase of the Creative Economy Development Fund , marking a major step toward formalizing government support for Nigeria’s booming but often neglected creative industries.
The fund targets key areas such as music, film, fashion, digital content, and cultural tourism—sectors that have long struggled with limited access to capital and institutional backing.
By offering a mix of grants, loans, and equity investments , the CEDF hopes to create a more sustainable ecosystem for creatives to grow their businesses and contribute meaningfully to the national economy.
Call to Action: Share Your Thoughts!
What do you think about the FG’s new Creative Economy Development Fund? Will it truly help Nigerian creatives scale—or is more needed?
💬 Leave a comment below and join the conversation on how Nigeria can better support its growing creative industry.
📢 Help spread awareness by sharing this article with fellow creatives, entrepreneurs, and policymakers invested in Nigeria’s future.
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