FG sets up N3bn special fund for Nollywood

 

  PRESIDENT Goodluck Jonathan has announced the setting up of Project Nollywood programme worth N3 billion, designed to assist the movie industry in the country and enhance its viability.

The president disclosed this at a dinner he held in honour of Nollywood stars to mark the 20 years of the industry at the State House, Marina, Lagos, on Saturday night.
He said the grant was in continuation of the desire of his administration to uplift the industry, which, he observed, could take over from the oil and gas industry in income generation for the country.
The special programme, according to him, would be formally launched in the first week of April.
He assured that his administration would continue to give the needed support to Nollywood, to enable it to take the Nigerian movie industry to greater height of success.
According to him, “I invited the private sector to this dinner, because I believe that they can also support the efforts to further develop the overall value chain of the industry.”
President Jonathan revealed that he had requested the NEXIM Bank and the Bank of Industry to give Nollywood more access loans.
Noting that the industry had already achieved great success in its 20 years of existence, Jonathan urged stakeholders not to rest on their laurels.
He commended Nollywood stars, musicians and sportsmen and women for putting the nation on the global stage by their hard work, describing the groups as the nation’s global brand.
Akwa Ibom State governor, Chief Godswill Akpabio, also on the occasion, announced the endowment of the Dr Goodluck Jonathan Prize for the best in the nation’s movie industry.
Akpabio said a total of N50 million would be committed into the award and requested the leadership of the industry to come up with the group that would coordinate it.
“I am the chairman of the newest forum in the arena of politics, the PDP Governors’ Forum. The first set of disciples of the president. We felt we must come together and rally support for the president, especially for his uncommon transformation agenda.
“Nollywood has come of age at 20. When the history of the success of Nollywood is being told, President Jonathan’s name will be mentioned,” he said.
Other dignitaries at the event were the wife of the president, Patience; Abia State governor, Chief Theodore Orji; Governor Martin Elechi of Ebonyi State; Governor Usman Dakingari of Kebbi State and ministers.