FG COMMENCES OPERATION OF N3BILLION NOLLYWOOD FUND

THERE are indications that the Federal Government has commenced operation of the N3 billion it earmarked for development of the film industry. Mr. Paul Nwabuikwu Special Adviser to the Coordinating Minister and Minister for Finance and Economy, Dr. Ngozi Okonjo-Iweala made the revelation while launching  website for the project; www.projectnollywood.com.ng  dedicated for accessing the fund in Abuja.

He said an initial N300 million will be available for the film makers to collect to build capacity and make the brand globally acceptable, adding that filmmakers have up to December this year to access the fund.

“This signals the commencement of the historic fund as corporate and individual practitioners in various aspects of movie craft and production can apply for various specified grants under the fund to boost their skills and capacity”, he said, adding that the first is a N150 million dedicated to training and skills acquisition for Nollywood practitioners in all competences along the entire value chain of Nigeria’s movie industry. These include, script writing, directing, production, design, special effects,  lighting, sound, HD techniques, acting, cinematography, make-up and editing, he said.

“The second component is the capacity development fund which is also worth N150 million. It will give grants to existing Nigerian owned private institutes that offer training courses, programmes and technical certification in the movie industry”, he said.

He said the fund may be used to upgrade existing facilities, procure equipment and develop international capacity to offer a set of course and training programmes which address key skills gap.