Following the President Goodluck Jonathan’s meeting on 24th of January with the media and Nigerian entertainment representatives, the Presidential Office has come up with a pledge of N2 billion to improve the overall technical and professional aspect of the movie production and delivery business in Nigeria.
Dubbed Project ACT Nollywood, the Presidential intervention scheme for the Nollywood industry is designed with the main purpose of improving the technicality in movie making and also combating piracy that is threatening the survival of the industry.
The special adviser to the coordinating Minister and Minister of Finance, Paul C Nwabuikwu who issued the statement in Abuja, said the fund is to provide assistance in ensuring those who make an effort in producing films are adequately rewarded, by creating a platform that will fight the menace of piracy that is sapping the profitability of the film makes in the movie industry.
Piracy in the entertainment industry is the most pressing issue that is threatening the livelihood of everyone involved and the fund would help many people in this business.
Applications for the distribution fund are welcome through the Project ACT online web portal which will be operational for a 2 month period having started on January 19, 2015.
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