FG Gives Nollywood Additional Grant

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The federal government of Nigeria gave an additional grant of N420.2 million to the Nigeria film industry popularly called “Nollywood”.

The grant according to the federal government is aimed at improving and supporting aspiring practitioners.

The Deputy Director of Information,Mrs Patricia Deworitshe, said that the second tranche payment will benefit 105 film distributors.

The federal government had earlier introduced the “Project Act Nollywood’’, with three primary components aimed at developing the movie making value chain.

The three components are the Film Production Fund (FPF), Capacity Building Fund (CBF) and Innovative Distribution Fund (IDF).

The sum of N1.8 billion was approved for disbursement to 106 beneficiaries in these components and N1.335 billion was disbursed earlier in the year as first tranche to 105 beneficiaries.

 

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