The Federal Government says it has
released N420.2 million to the Nigeria film industry popularly known
as Nollywood to improve and support aspiring film makers.
According to a statement issued by the
Deputy Director of Information, Federal Ministry of Finance, Patricia
Deworitshe, on Friday in Abuja, the money, which is the second
payment to the sector, will help 105 film distributors.
It would be recalled that the past
administration had earlier introduced the “Project Act Nollywood’’,
with three primary components aimed at developing the movie industry.
The components are the Film Production
Fund (FPF), Capacity Building Fund (CBF) and Innovative Distribution
Fund (IDF).
The FPF and CBF have been fully
implemented, while the IDF, which is the third component of the
project, is on-going. The IDF covers online, National, Regional and
community categories of Nollywood Film distribution and exhibition.
The objectives of IDF are to improve
the distribution network of Nigerian Audio-Visual contents, cut down
on piracy, create jobs, and protect Intellectual Property Rights
(IPR) within the Nigerian Entertainment Industry.
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