Nollywood Gets N420Million Grant From FG To Create Jobs & Fight Piracy

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fg nollywood N420million grant

June 30, 2017 – Nollywood Gets N420Million Grant From FG To Create Jobs & Fight Piracy

The FG said it has released the sum of N420.2 million to the Nigeria film industry popularly called Nollywood to improve and support aspiring practitioners.

A statement issued by the Deputy Director of Information, Federal Ministry of Finance, Mrs. Patricia Deworitshe, on Friday in Abuja, said the money, which is the second tranche payment will benefit 105 film distributors.

The Federal Government had earlier introduced the “Project Act Nollywood” with three primary components aimed at developing the movie making value chain.

The components are the Film Production Fund (FPF), Capacity Building Fund (CBF) and Innovative Distribution Fund (IDF).

The FPF and CBF have been fully implemented, while the IDF, which is the third component of the project, is ongoing.

The IDF covers online, national, regional and community categories of Nollywood film distribution and exhibition.

The objectives of IDF are to improve the distribution network of Nigerian Audio-Visual contents, cut down on piracy, create jobs, and protect Intellectual Property Rights (IPR) within the Nigerian entertainment industry.

[NAN]

6 thoughts on “Nollywood Gets N420Million Grant From FG To Create Jobs & Fight Piracy

  1. Honestly, this idea of granting federal loans to Nollywood is a foolish idea. Nollywood film producers are private businesses that should sort out loans just like other private entities. However, federal and state government can assist our film industry to fight privacy that is destroying the industry. They can also give them tax incentives such that film making equipment should be duty free at the port of entry. But using g taxpayer’s money to boost film industry is a blunder and definitely not a smart economy move. If those actresses and actors who do showoff of their very expensive houses, cars, online and travel on first class all over the world, then they can avoid to invest their own money in the the Nollywood industry. Instead of giving that kind of money to those oppressors and showoff masters, that money should have been given to our various community and agricultural banks so that suffering Nigerians can get small loans to start businesses and farming at zero interest rates. This is a waste of taxpayer’s money. May God give our leaders at all levels of government the wisdom and understanding to help millions of suffering Nigerians. Amen.

    • @omokehinde God bless you!, always on point!
      Haven’t seen you on here lately..was wondering happened to you.

  2. They have just succeeded in enriching some people’s pocket.The project ends in the hand of the recipient. Where is the billion awarded them by Jonathan?

  3. Even with the billions recieved from jonathan govt..we are tired of their negative publicity.lewdness,divorce mess,drug and alcohol abuse..selfies with cat and dogs and display of fake gucci bags.Do they even use the money for other ailing and sick actors?pls the farmers and artesans will make better use of that money.

  4. THAT IS WHY I keep saying that this govt is dumb. Why puttinh our money into an irrelevant and unprofitable engagements?

    Now, though, I‘m not trying to sound unpatroitic here but I want boldly say here that I seldom watch all these nollywood wishy washy rubbish they called Nigerian films, no, not in these days of foreign sensational seasonal movies.
    There‘s no need for better when Best is possible.

    Putting more monies into nollywood after the Billions that GEJ had invested into it before with hope to upgrade the industry but in vain is a complete wastage of efforts. Because the money would not see the light of the day as it would be diverstified into a different course altogether. “Na naija we dey nah“.
    RIP to that millions.

    I take a stroll…

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