The Federal Ministry of Art, Culture, Tourism, and Creative Economy has announced the introduction of the Creative Economy Development Fund 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 ,the ministry invited eligible Creatives, entrepreneurs, and organisations to apply for funding through the Creative Economy Development Fund.
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.
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.
The initiative according to the statement offers various funding options for creative businesses, including; Affordable loans and credit facilities for businesses across sectors such as film, music, fashion, art, publishing, gaming, and cultural tourism. Equity and quasi-equity investments in high-growth creative enterprises, Grant funding for socially impactful and innovative cultural projects and focus on leveraging intellectual property as a bankable asset aclass for securing financing.
