Newsexpress place banner advert Yudala genuine products
Okonjo-Iweala clears the air on N3 billion presidential pledge to Nollywood

By News Express on 28/04/2013

Share on facebook Yahoo mail icon Gmail icon

Views: 1,832


The Coordinating Minister for the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala, has said that the Federal Government is committed to ensuring that the N3 billion intervention fund which President Jonathan promised the Nigerian film industry leads to sustainable benefits for the industry.

Clearing the air on the fund, she stressed that, contrary to the impression some stakeholders may be nursing, it is not planned to be shared out as grants or loans.

“Rather the objective is to leave behind something solid on which the industry can leverage on and grow to a new level,” the minister said in a statement issued this evening by her Special Adviser, Paul C Nwabuikwu. 

Okonjo-Iweala had spoken along this line during a lively town hall meeting yesterday in Lagos with heads of guilds and associations in Nollywood as well a cross section of film makers and business people working in the sector. 

In her words: “The N3 billion which the President promised is meant to be a catalyst which will help the industry leverage other sources of funding and expertise and grow to a new level. The money will not solve every problem but it’s a good beginning. We need to use it well for the benefit of this important industry and the benefit of the country.”

She addressed the gathering along with the Minister of Culture and Tourism, Chief Edem Duke, who told the stakeholders that they need to reach a common position on key issues affecting them because that the pervasive hostility and bickering among film practitioners in Nollywood is an obstacle to the continued growth of the industry.

Chief Duke said that Nollywood has become an important ambassador of Nigeria and that the Presidential intervention fund underscores government’s appreciation of the platform and its great potential to contribute significantly not only to the economy but also to a better understanding of Nigeria by the world.

Stakeholders at the town hall contributed enthusiastically to the proceedings and speakers said they shared the commitment of the Federal Government to the sustainable development of the industry.

There was a consensus that the development of a strong distribution system and the strengthening of expertise to deepen professionalism and expertise in the industry should be key areas of focus.

The town hall event was the latest in a series of consultations by the two ministers with stakeholders in the industry to get their input and ideas on the best ways to deploy the funds to maximise benefits for the industry.

Photo shows Dr. Okonjo-Iweala.

Source News Express

Posted 28/04/2013 6:16:37 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

 

You may also like...
We need more than PDP and APC to...

Time to honour Africa’s Father of Geology

Senate votes to retain fuel subsidy, says Sanusi...

Consequences of a failed coup: Burkina Faso president...

Air Force intensifies efforts to produce aircfraft spares,...

77 die in over 90 road accidents within...

London court hears how Nigerian boy killed mother...

Anambra FA marginalised, says chairmanship aspirant

Democrats, activists kick US security agents arrest hundreds...

Bayelsa to begin sale of land at new...

Only enemies of Ndigbo would call for Ekweremadu’s...

It will be another day of dust haze,...

 

Latest News Unknown assailants strangle elderly couple in Osun Dickson warns fifth columnists, says democracy has come to stay Africa loses $50 billion a year to illicit financial flows: Experts CLO rates Obiano low after 3 years in office Edo not keen on wage increase, favours economic restructuring Double Registration: Coalition dares Kogi APC, says Gov. Bello won’t resign Prosecute Reigners’ Bible Church over building collapse, activists tell IGP Delta tourism destination of choice — Okowa Kaduna Govt. orders probe of rifles found in wrecked car Senator Tinubu promises effective representation for constituents Kidnappers of 6 Lagos students demand N1bn ransom Minimum wage: Our patience running out, NLC tells FG

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (247,054 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (223,446 views) Shameless Genevieve Nnaji exposes breasts in public (185,111 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (165,557 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (158,731 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (138,620 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (121,068 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (118,342 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (106,375 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (102,695 views) Lagos plane crash: Journalist releases victims’ names (101,398 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (95,601 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (27) Business (2,564) Business Verdict (16) Columnists (685) Complaints & Requests (90) Enterprise & Opportunities (153) Entertainment (325) Features (448) Global Business Monitor (152) International (1,379) Interviews (122) Live Commentary (28) Love Matters (54) News (24,790) Opinion (721) Pidgin (8) Politics (3,703) Religion (536) Sports (1,267) Stock Watch (18) AMA & Al Jazeera Global Update

 

Words on marble

 

UBA Wise Savers Promo

 

Machester United vs Ajax

 

APO Newsbreak logo

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!