17 July 2017

Nigeria: Creative Industry to Enjoy Tax Holidays, Waivers - Govt

Photo: Vanguard
Nollywood cable films

Minister of Information and Culture, Alhaji Mohammed, has said that the Federal Government is making efforts to give the Creative Industry a pioneer status so it can qualify for tax holidays and waivers, especially of customs duties on the equipment for film and music production, among others.

The minister said this during his visit to the Copyright Society of Nigeria (COSON) in Lagos at the weekend, a statement by his assistant said yesterday.

He also disclosed that the present administration's economic and growth plan mentioned the Industry as one of the key areas for the diversification of the economy.

Mohammed decried the situation in which the films and music meant for consumption in Nigeria are made in foreign countries, saying the government is determined to ensure that what is consumed in Nigeria, including films and music, must be made in Nigeria.

He listed the provision of infrastructure, strong laws, protection of Intellectual Property and the enforcement of existing laws as some of the areas in which the government can intervene.

The minister was accompanied on the visit by the heads of relevant parastatals in the Ministry, including the Directors-General Yakubu Ibn Mohammed (NTA), Mansur Liman (FRCN), Folorunso Coker (NTDC) and the Executive Director of the Nigerian Film and Video Censors Board Adedayo Thomas.

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