... To Transform Nigeria’s Cultural and Creative Sectors
The Federal Ministry of Art, Culture, Tourism, and Creative Economy has announced the official public launch of the Creative Economy Development Fund, a significant financing initiative approved by the Federal Executive Council to unlock the economic potential of Nigeria’s creative industries.
This launch began with a nationwide call for proposals, inviting eligible creatives, entrepreneurs, and organizations to apply for funding.
The Creative Economy Development Fund is a strategic investment in the country’s cultural future. It is designed to boost job creation, promote innovation, and increase global visibility for Nigeria’s creative assets.
Though backed by the Federal Government, the Fund operates on a private sector model and provides tailored financial support to creatives across the value chain through a combination of debt, equity, and grant funding.
The Fund supports creative businesses by providing capital to scale production, expand market access, and build resilience. It also introduces a structure that allows creators to leverage intellectual property as a financial asset, unlocking the value of film rights, music catalogues, digital content, and other creative works. By increasing access to finance and strengthening youth-led industries, the Fund contributes to national goals of economic diversification and cultural development.
The Fund offers flexible financial tools that meet the unique needs of businesses at different stages. Debt financing will support enterprises with proven revenue potential and repayment capacity. The equity and quasi equity window will offer capital investment to fast growing businesses such as film producers, fashion brands, or music companies, promoting long term sustainability and shared success.
The grant funding window will support early stage or socially beneficial projects that may not yet be commercially viable, such as cultural festivals, experimental films, or heritage preservation programs. All applications will be assessed by independent professionals with oversight from a private sector investment committee to ensure fair, transparent decision making.
The Fund will be rolled out in clearly defined phases. The first call for proposals opens on April 28, 2025, and closes on May 30, 2025. This phase prioritizes mature projects seeking over one hundred thousand dollars and backed by necessary documentation. A second phase will open on August 4, 2025, focusing on MSMEs and SMEs requesting under one hundred thousand dollars. Application review, project onboarding, incubation, and acceleration for Phase One will take place from June through December 2025. Disbursement of funds to selected beneficiaries will begin on January 1, 2026. For Phase Two, disbursements will start from April 1, 2026. All application requirements and submission details will be shared on the Ministry’s official platforms at the time of the call.
The Fund is open to individuals, businesses, and institutions operating across the entire creative and cultural economy. Eligible applicants include writers, directors, cinema operators, studios, artists, sculptors, record labels, publishers, editors, textile mills, tailors, fashion designers, gaming studios, developers, animators, festival organizers, curators, museum operators, and cultural tourism providers. Also eligible are training institutions, promoters, legal consultants, media agencies, digital platforms, and logistics companies. From traditional artisans in rural communities to digital content entrepreneurs in urban centers, any entity contributing to Nigeria’s creative landscape may apply.
The Creative Economy Development Fund is structured as an independent, professionally managed investment fund. The Ministry of Finance Incorporated serves as the anchor shareholder, ensuring alignment with national interests. However, day-to-day operations are managed separately by an experienced team of investment professionals, guided by private sector principles. All activities will comply with financial regulations and include required approvals from the Securities and Exchange Commission, regular reporting, independent audits, and public disclosures.
Applicants and partners can stay updated through the Ministry’s official channels. Information will be published on www.fmacce.gov.ng, Instagram (@fmactce_nigeria), and X (@fmactce_Nigeria). A dedicated inquiry desk will also be available after the call for proposals goes live. Interested investors and development partners are encouraged to reach out regarding co-investment opportunities or participation in specific sub-funds such as intellectual property-backed financing.
The launch of the Creative Economy Development Fund signals a new chapter in building a globally competitive creative economy in Nigeria. By addressing funding gaps, strengthening project pipelines, and empowering value chain actors, the Fund delivers on the promise of the Renewed Hope Agenda and invites all contributors, large and small, to be part of this national movement.
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