The Ministry of Art, Culture, Tourism, and the Creative Economy has unveiled Phase 2 of the Creative Economy Development Fund (CEDF), a national initiative aimed at accelerating growth in Nigeria’s creative and cultural industries.
According to a statement by the Minister’s media aide, Dr Nneka Ikem-Anibeze, the new phase prioritises proposals from businesses seeking up to $100,000 in funding. It covers a broad spectrum of industries including film, television, animation, gaming, XR and interactive media, music, literature, publishing, visual arts, fashion, culinary arts, tourism, heritage, and cultural experiences.
Ikem-Anibeze explained that the fund is designed to drive growth by providing access to finance, skills, and market opportunities.
“Building on the success of Phase 1, which recorded thousands of applications from Nigerian entrepreneurs, Phase 2 expands the scope of the programme. It targets businesses seeking to unlock growth, scale innovation, and create sustainable jobs across the creative economy,” she said.
She added that the CEDF “sits at the heart of Nigeria’s Renewed Hope Agenda, providing the financial backbone for transforming the country’s creative assets into engines of inclusive economic growth.”
Phase 2 also introduces a streamlined application process through an official portal with a simplified interface, enabling applicants to easily navigate funding opportunities, submit proposals, and track progress. The platform also provides real-time updates, resource materials, and transparency tools to strengthen trust and accountability.
Ikem-Anibeze stressed that the fund “is designed to fuel innovation, create jobs, strengthen SMEs and MSMEs, drive exports, and institutionalise growth through digital tracking and reporting tools.”
She noted that the initiative aims to support businesses leveraging creativity and technology to deliver new cultural products and services, expand employment, provide financial lifelines to entrepreneurs, and position Nigerian creative content as competitive exports.
“The launch of Phase 2 of the CEDF marks a significant milestone in Nigeria’s creative economy development, and the Ministry encourages all eligible businesses and enterprises to apply for funding and support,” the statement concluded.
