Film Fund: FG Doles Out N215.5m To Filmmakers

Twenty-six filmmakers, who applied for the film intervention fund grant made available by President Goodluck Jonathan under the Project ACT Nollywood, knew their fate Tuesday, as they were called to Abuja for the presentation of the grants.

Although sources say the monies will take two weeks to clear, the filmmakers got between N15million and N2million, depending on the magnitude of the film project they proposed. Disbursed by the Ministry of Finance, managers of the fund, Minister of Finance, Dr Ngozi Okonjo-Iweala, noted that the Federal Government was committed to using the creative arts industry as vehicle to boost the nation’s economy, The Nation reports.

“President Goodluck Jonathan is very much aware of the contribution of creative industry to the economic development of the country and I think several states have also tried to attract the industry.

“From what I understand, issues of intellectual property, quality and so on, are paramount and that is why the president thought that he would put this initiative together to support the industry.

“He had always believed in the power of the creative industries to try and help transform the country.

“This is through the employment that the industry will create for our young people, particularly those that have left the university,” she said.

According to Okonjo-Iweala, the N215.5 million that was being disbursed was part of the N700million earmarked for the film producing segment of the fund, and the 26 filmmakers are the first batch of beneficiaries.

She said that the industry had so far created no fewer than 200,000 direct and one million indirect jobs worth 250 million dollars, but added that, “One of the problems we have with you is that we often have a little more of a contentious approach within the industry.”

The Project Director, Project ACT Nollywood, Dr Supo Olusi, explained that the amount was being disbursed as grants to industry operators who met the benchmark for accessing the money.

“There is a provision in their MoUs that they must produce movies from the grant within three months after the due date in the MoU to ensure that they deliver,” he said.

Notable filmmakers whose production companies applied for the fund and who were seen at the event included, Kunle Afolayan, Desmond Elliot, Akin Konhi, Emeka Ossai, Greg Odutayo and producer of Living in Bondage, Keneth Nnebue.