Jonathan Pledges N3billion Grant To Nollywood Reviewed by Momizat on . President Goodluck Jonathan has declared the creation of  N3billion grant geared to support the nation’s movie industry; Nollywood. According to the President, President Goodluck Jonathan has declared the creation of  N3billion grant geared to support the nation’s movie industry; Nollywood. According to the President, Rating:
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Jonathan Pledges N3billion Grant To Nollywood

President Goodluck Jonathan has declared the creation of  N3billion grant geared to support the nation’s movie industry; Nollywood.

According to the President, a programme called “Project Nollywood” has being established by his administration to “support the key components of the industry’s value chain through a dedicated grant, totaling N3billion.”

The grant will be launched in April.

The President made this known while delivering his speech at a dinner to celebration Nollywood at 20 in Lagos, on Saturday night.

The dinner was organized to celebrate the 20th  anniversary of the first Nigerian movie to be released on home-video; ‘Living in Bondage‘, which was released in September 1992.

Giving more details about the grant, the President stated that the fund will include “grants for the best film scripts; a capacity development fund, and funds for supporting the industry’s infrastructure.”

“The scheme which will be launched in the first week of April, will be managed by the Ministry of Finance in collaboration with the Ministry of Culture and Tourism” he added.

Dr Jonathan also made it known that he has directed both the NEXIM Bank and Bank of Industry to redouble their efforts in assisting the industry to access loans.

According to him, “NEXIM has extended about N766 million in loans to a number of companies involved in film production, cinemas, and distribution, with another scheduled N1.4 billion for projects in the industry.”

This he noted, “must be sustained.”

The President in his speech commended all stakeholders in the movie industry for making Nollywood one of Nigeria’s export items in the last two decades.

He challenged them to make Nollywood become the major export item in the next 20 years.

“Our national income is currently dominated by the oil sector. I believe that with continued hard work, Nollywood could begin to challenge the oil sector’s domination in the years ahead” he concluded.

Also pledging his support to the industry, the Governor of Akwa-Ibom state, Godswill Akpabio donated the sum of N50 million to the industry as the ‘President’s Award For Creativity.’

One of the main challenges facing the movie industry as highlighted by foremost move director Amaka Igwe at the event was the issue of piracy and poor infrastructure which the President promised to look into.

The event had in attendance numerous practitioners in Nollywood such as Genevieve Nnaji, Chidi Mokeme, Aki and Paw Paw, Olu and Joke Jacobs, Segun Arinze, Stephanie Linus, Patience Ozokwor, Zack Orji, Madam Kofo, Desmond Elliot, Chiwetalu Agu, Cynthia Amadi, Amaka Igwe, Dickson Iroegbu, Zeb and Chico Ejiro, Kunle Afolayan, Tunde Kelani, Andy Chukwu and several others.

President Jonathan also unveiled a pictorial book titled ‘Icons of Nollywood‘.


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  • DavisOmon

    When are they paying back the money?This is another way of telling them to campaign for you.May be we will be giving loans to individual from ASO ROCK directly.We  will soon hear story about the money in no distant time

  • Femi

    Another political motivated action. Money makes some people with integrity compromise……You know what to expect….

  • Efe1

    How about the one he promised during the election campaign? Did he deliver? Bloody nonsense

  • Joe Chidi

    This is another empty promise, I don’t believe this politicians and their pledge without legal backing because it does not hold any waters. Whenever time for elections are getting nearer you will see them making huge promises. Who are they deceiving? I guess only themselves because Nigerians have no faith in these so called politicians.

  • nawao

    I have seen this type of BULL SHIT so many times since i became a PMAN member about 30 years ago. What U will see now is, before this money comes ( if it does come at all ), a big Civil War would have begun among the officials of Nollywood on who will get what share of the money. At the end of the day, one does not see what the money was used for. In some case, the donor  ( the presidency ) would say  ” We are sorry guys. Please put your house in other first before we can release the money to you ” , and that would be the end of this Donation. I advice the Nollywood guys to be wiser this time.

  • adetola lawal

    The Presidency obviously has misplaced priorities. No doubt , entertainment is good but isn’t it glaring that security issues is the most pressing issue in the country at this present time! God , give us transformational leaders!

  • Johnny

    Mr. president please look for money and fight insecurity in this country. Giving grant to nollywood is not in thing for now. What if they get the grant but bomed the next day?

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