FG to re­view N3bn Nol­ly­wood grant

Daily Trust - - BUSINESS - By Chris Agabi

The Min­is­ter of Fi­nance, Mrs. Kemi Adeo­sun, has in­au­gu­rated a com­mit­tee to re­view the N3­bil­lion Nol­ly­wood grant to en­sure it cre­ates the most value.

At the in­au­gu­ra­tion in Abuja, Mrs Adeo­sun who ad­dressed stake­hold­ers in the movie in­dus­try said the fund’s re­view was meant to stim­u­late in­vest­ments in the en­ter­tain­ment in­dus­try and en­sure job cre­ation.

She said: “The com­mit­tee would re­view the pro­gramme, re­struc­ture it if nec­es­sary and to come up with an im­ple­men­ta­tion plan with mea­sur­able and demon­stra­ble de­liv­er­ables and out­comes so that we en­sure that we get max­i­mum value for the in­dus­try and for the Nige­rian people.

“We want to en­sure sus­tain­abil­ity. N3bn is not enough if we are go­ing to give out money. What we need to do is to find a sus­tain­able way to sup­port Nol­ly­wood,” she said.

The min­is­ter ex­pressed con­cerns over the huge in­ci­dences of piracy in the in­dus­try and urged the com­mit­tee to evolve cre­ative ways of deal­ing with piracy which is de­stroy­ing the in­dus­try.

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