Monday, 17 June 2013

FG Release 300 Million Naira Nollywood Capacity Fund

Action on the N3 billion support promised the Nigerian film industry by President Goodluck Jonathan has formally commenced with the roll out of a N300 million
capacity building fund. 

The presidential intervention, called Project ACT Nollywood, is managed by the Coordinating Minister for the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala and the Minister of Tourism,  Edem Duke.  

The capacity building fund is the first of a series of initiatives planned under Project Act Nollywood,which has  two components

The first is a Training Fund of N150 million dedicated to training and skills acquisition for Nollywood Practitioners in all competencies along the entire value chain of Nigeria’s movie industry

These include Script writing, Directing, Production and Production Design, Special Effects, Lighting, Sound, HD Techniques, Acting, Cinematography, Make-Up, and Editing, 

The second component,which  is the Capacity Development Fund of  N150 million, will give grants to existing Nigerian-owned private institutes that offer training courses, programs, and technical certification in the movie industry.

Additionally, the Capacity Development Fund may be used to upgrade existing facilities, procure equipment and develop internal capacity to offer a set of courses/training programs, which address key skills gap.

To benefit from the Capacity Development Fund, interested institutes must prove to be registered  before 1

st January 2013 and be competent enough to train according to global best practices (including for organizations partnering with training programs from reputable international film institutions) on a sustainable basis.

Speaking on the development, the Coordinating Minister said that the establishment of the fund underscores government’s commitment to supporting Nollywood in recognition of the film industry’s contributions to the economy and projecting the country. 

She stressed that Project Act Nollywood is not for sharing to practitioners but that the overall objective is to support the industry in a sustainable way that practitioners can leverage on to improve their capacity and output in key areas.   

 The Fund is open for applications from July 2013 to December 2013,while Courses commencing after 31 st December are eligible provided the application is received before 31 st December 2013.

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