Nigerian government opens Phase 2 applications for Creative Economy Development Fund

The initiative aims to foster growth, innovation, and sustainable financing for Nigeria’s creative and cultural industries. This is part of a broader effort by the government to create jobs, spark economic diversification, and boost Nigeria’s global cultural footprint.

Details of the objectives

1. Objective 1—Stimulating growth in creative and cultural industries:
   The aim is to provide the necessary funding for businesses in sectors such as film, music, fashion, art, publishing, gaming, and cultural tourism to expand production and reach new markets.
2. Objective 2—Increasing access to finance:
   This opens up new financing avenues for creative entrepreneurs and organizations, including those who previously lacked access to traditional bank loans or investors.
3. Objective 3—supporting job creation and economic diversification: Here, the fund will empower creative businesses to scale up, which will lead to the creation of new jobs and livelihoods, especially for youth, while diversifying Nigeria’s economy beyond oil and other traditional sectors.
4. Objective 4 – Leveraging intellectual property (IP) as an asset:

   Here, a transformative model for securitizing and collateralizing intellectual property will be established. 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.

Funding windows

The CEDF has multiple financing windows tailored to different needs in the creative sector:

1. Grant funding window: A dedicated grant facility is available to back innovative ideas and cultural projects that may not yet be bankable but have high impact potential.

   This grant fund will be professionally managed to generate a sustainable stream of income, which in turn will finance grants for early-stage or socially beneficial creative projects (for example, community arts programs, experimental films, or heritage preservation initiatives).

2. Debt financing window: This offers affordable loans and credit facilities to viable creative businesses.

   This window will provide debt funding to creative startups and enterprises that can demonstrate capacity for repayment, helping them expand operations or complete projects.

3. Equity/quasi-equity window: This provides equity investments or quasi-equity support (such as convertible instruments) in promising creative businesses.

   Through this window, the CEDF can take an investment stake in high-growth potential projects—from film productions to fashion labels—enabling scaling while sharing in future successes. This equity approach injects long-term capital and business support, rather than just debt, into the industry.

Funding amount

Phase 2 of this Call will prioritize proposals from MSME and SME businesses (under $100,000)

Who can apply for funding?

• Individual creators, entrepreneurs, and businesses operating in Nigeria’s creative and cultural industries.
• Businesses operating within the tourism industry that are linked to the cultural and creative aspects of the value chain, including infrastructure.
• Must demonstrate a viable project plan, legal rights to use any relevant IP, and alignment with the Fund’s mission to strengthen the creative sector.

When and how to apply

The deadline to apply is September 1, 2025. Click HERE to begin the application.