Nigeria News

NIGERIA: FG Releases N300m Capacity-building Fund for Nollywood

 In line with the N3billion support fund promised the Nigerian film industry popularly referred to as Nollywood, by President Goodluck Jonathan, the federal government Sunday announced the roll out of a N300 million capacity-building fund.

The fund, according to the federal government is open for application from July to December 2013. The presidential intervention, called Project Act Nollywood, is to be managed by the Coordinating Minister for the Economy and Minister of
Finance, Dr. Ngozi Okonjo-Iweala and the Minister of Culture and Tourism, Chief Edem Duke.

A statement from the Special Adviser to the Coordinating Minister for the Economy and Minister of Finance, Mr. Paul Nwabuikwu, explained that the capacity building fund was the first of a series of initiatives planned under Project Act Nollywood.

This, the minister of finance said is made up of two components. “The first 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 Nigeria’s movie industry. These include scriptwriting, directing, production and production design, special effects, lighting, sound, HD techniques, acting, cinematography, make-up, editing, etc. “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,” Okonjo-Iweala added.

According to her, the fund may be used to upgrade existing facilities, procure equipment and develop internal capacity to offer a set of courses/training programmes to address skills gap in the sector. To benefit from the fund, Okonjo-Iweala further explained that interested institutes must prove to registered from before  January 1, 2013 and be competent enough to train according to global best practices (including for organisations partnering with training programmes from reputable international film institutions) on a sustainable basis.

Speaking on the development, the minister said that the establishment of the fund underscored government’s commitment to supporting the industry in recognition of its contributions to the economy and projecting the country. She stressed that the objective of the initiative is to support the industry in a sustainable way that practitioners can leverage on to improve their capacity and output in key areas.

The guidelines for application for the fund include that one must be a Nigerian, an industry practitioner as well as a member of an industry association or guild.

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