FG to review N3bn Nollywood grant
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.