Project Act Nollywood: Jonathan Gives N300 Million To Nigerian Movie Stars

president jonathan N300 million nollywood

June 17, 2013 – Project Act Nollywood: President Jonathan Gives N300 Million To Nigerian Movie Stars

The Federal Government has approved N300 million out of the three billion naira intervention fund for capacity building in the Nigerian film industry.

This is contained in a statement issued in Abuja on Sunday by Mr. Paul Nwabuikwu, Spokesman for the Minister of Finance and Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala.

“Action on the three billion naira support promised the Nigerian film industry by President Goodluck Jonathan has formally commenced with the roll out of a N300 million capacity building fund, “the News Agency of Nigeria quoted the spokesman as saying in the statement.

The statement noted that the capacity building fund was the first of a series of initiatives planned under “Project Act Nollywood’’, adding that It was made up of two components.

According to the statement, the first component is a Training Fund of N150 million, dedicated to training and skills acquisition for Nollywood practitioners in all competencies along the entire value chain of the industry.

The statement said it include; scriptwriting, directing, production and production design, special effects, lighting, sound, HD techniques, acting, cinematography, make-up and editing, among others.

It said the second component was the Capacity Development Fund which was also worth N150 million.

[Source: The Nation]