FG Disburses N3 Billion Film Industry Fund

ABUJA – The federal government will today commence the process of disbursing the N300 million capacity building fund for the Nigerian film industry.

The Fund is to assist the corporate and individual practitioners in various aspects of movie craft and production.

Office of the coordinating minister of the Economy, who is managing the fund said today (Monday, July 22, 2013), at 12 pm a website www.projectactnollywood.com.ng will be launched to commence receiving applications from interested stakeholders aimed at boosting their skills and capacity.

The capacity building fund which was announced recently is the first part of the N3 billion support fund for Nollywood pledged by President Goodluck Jonathan.

FG Disburses N3 Billion Film Industry FundThe Presidential Intervention Fund, called Project ACT Nollywood, is managed by the Coordinating Minister for the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala and the Minister of Tourism, Chief Edem Duke.

The Capacity Building Fund is the first of a series of initiatives planned under Project ACT Nollywood. It 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.

Additionally, the Capacity Development Fund may be used to upgrade existing facilities, procure equipment and develop internal capacity to offer a set of courses/training programmess, which address key skills gap.

To benefit from the Capacity Development Fund, interested institutes must show evidence they were registered before 1st January 2013 and be competent enough to train according to global best practices (including for organizations partnering with training programmes from reputable international film institutions) on a sustainable basis.

Speaking on the development, the Coordinating Minister said that the establishment of the fund underscores government’s commitment to supporting Nollywood in recognition of the film industry’s contributions to the economy, and projecting the country.

The Fund is open for applications from July 2013 to December 2013. Courses commencing after 31st December are eligible provided the application is received before 31st December 2013.

Meanwhile, Dr Okonjo-Iweala will today inaugurate new Committees on expediting the implementation of the Integrated Payroll and Personal Information System (IPPIS) and Government Integrated Financial Management and Information System (GIFMIS) in Abuja according to a statement from the special adviser to the minister, Paul C Nwabuikwu

The minister said at the launching of the second phase of IPPIS that the already huge saving was made since the commencement of the projects in the country.

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