FG launches Phase 2 of Creative Economy Development Fund for entrepreneurs
The Federal Ministry of Art, Culture, Tourism, and the Creative Economy has officially launched Phase 2 of the Creative Economy Development Fund (CEDF), a national initiative aimed at accelerating growth in Nigeria’s creative and cultural industries.
The launch was confirmed in a statement signed on Sunday by the ministry’s Special Adviser on Media and Publicity, Nneka Ikem Anibeze.
According to the Ministry, Phase 2 builds on the success of the first phase, which drew thousands of applications from Nigerian creatives and entrepreneurs. The new phase expands both the scope and scale of the Fund, targeting businesses that aim to unlock growth, scale innovation, and create sustainable jobs.
CEDF sits at the heart of Nigeria’s Renewed Hope Agenda, providing financial support to transform creative assets into engines of inclusive economic growth. The Ministry highlighted in the statement that Phase 2 introduces a streamlined application process via the official portal, featuring a simplified interface, real-time updates, and tools for applicants to track their proposals with ease.
The Fund prioritizes businesses seeking up to $100,000 in funding and spans a wide range of creative sub-sectors, including Film, Television, Animation, Gaming, Music, Literature, Visual Arts, Fashion, Culinary Arts, Tourism, Heritage, and Cultural Experiences. The Ministry emphasized that no subsector would be left behind in Nigeria’s creative renaissance.
Phase 2 is designed to fuel innovation, create jobs, strengthen SMEs and MSMEs, drive exports, and institutionalize growth through digital tracking and reporting tools. The initiative specifically supports businesses leveraging creativity and technology to deliver new cultural products and services.
The statement noted that CEDF will provide crucial financial lifelines to entrepreneurs, expand employment opportunities in the creative sector, and position Nigerian creative content as competitive exports, with measures in place to ensure accountability and sustainability.
Eligible businesses and enterprises are encouraged to apply through the official portal at www.cedf.gov.ng.
