We are excited to share that the Federal Ministry of Arts, Culture, Tourism, and Creative Economy (FMACTCE) is introducing the Creative Economy Development Fund (CEDF), a groundbreaking project endorsed by the Federal Executive Council (FEC).
The CEDF aims to foster progress, originality, and secure funding for Nigeria’s creative and cultural sectors, aligning with the government’s dedication to generating employment opportunities, encouraging economic variety, and enhancing Nigeria’s international cultural influence.
This initiative signifies a substantial commitment to the creative industry on a national level, acknowledging its capacity to propel economic advancement and cultural exchange.
Check Also:ROGEAP, Ecobank Partner to Train 50 Solar Energy SMEs in Lagos
KEY OBJECTIVES OF CEDF
- Stimulating Growth in Creative and Cultural Industries: Providing 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 marketsBusiness management tools - Increasing Access to Finance :Opening up new financing avenues for creative entrepreneurs and organizations, including those who previously lacked access to traditional bank loans or investors.
- Supporting Job Creation and Economic DiversificationEmpowering 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.Business management toolsLeveraging Intellectual Property (IP) as an AssetEstablishing 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.
Application Closing Date:30th May, 2025
