3 March 2013

Nigeria: Jonathan Bouys Nollywood With N3 Billion Grant

The indigenuous film industry, otherwise known as Nollywood, at the weekend got a special boost as the federal government has initiated 'Project Nollywood' to fast track the stellar performance of the movie industry in Nigeria.

President Goodluck Jonathan, who hosted the ensemble to a dinner to mark the 20 years of the industry at the State House, Marina, Lagos on Saturday, disclosed that the sum of N3 billion has been set aside by his administration as a grant to the industry with a view that the income accruing from its enterprise will surpass that of the oil and gas industry which is currently the highest revenue generator.

The grant is in addition to a presidential directive to the Nigeria Export-Import (NEXIM) Bank and Bank of Industry (BOI) to give additional impetus to the industry through provisions of loans.

Copyright © 2013 This Day. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.