Risk management institutions, especially insurance companies, have been tasked to develop products and services that directly address film production needs, the unique capabilities, offerings and professional practice as well as stakeholder content creators and operators within Nigeria’s film industry ecosystem.
Dr. Ali Nuhu, Managing Director/Chief Executive of the Nigerian Film Corporation (NFC), in a keynote remarks at the one-day insurtainment-industry policy forum that took place at the Marriot Hotel, Ikeja, Lagos on Tuesday July 14th 2026, told guests and participants of the need for insurance companies and film industry to work together.
Guests at the event included veteran filmmakers, film production companies, film industry guilds and associations, government institutions, insurance and risk management companies, representatives of state governments and the national assembly. And Nuhu’s message to them was straight forward: that Nigeria’s film production ecosystem was long overdue to be assisted to further grow, through the enthronement of policy frameworks that will enable filmmakers, content creators and practitioners seamlessly benefit from the services of insurance and risk management institutions.
Nuhu, who was represent at the event by NFC’s Director of Oublic Affairs, Brian Etuk, said the management of risk, remained one of the greatest concerns that sits at the very heart of building a sustainable creative economy, and that going beyond conversations, the attention has to shift to how to make insurance support the growth and development of film production and other creative enterprises.
He acknowledged that for too long, film production in Nigeria has been driven by passion, talent, and grit, and that Nigerian storytellers have created magic with limited resources; as well as given the world unforgettable stories.
But beyond the successes being recorded and the need for more funding investments in film production, content creation, marketing and distribution; passion alone was no longer enough.
The absence of safety nets within the film production value chain process, he said, causes major setbacks beyond financial losses, including “business deals, job losses and stalled dreams”.
Funding considerations, opportunities and windows offered by investment and development finance institutions, streaming platforms, co-production partners and countries, he further said, are becoming heavily skewed towards the availability of risk protection measures, including insurance.
The thrust of the one-day forum, Nuhu averred, was the harnessing of seamless insurance policy pathways for Nigeria’s film production and creative enterprise growth and development, emphasizing that the emergence of insurance products built and developed to cover cast, crew, equipment, sets and locations; including the availability of completion bonds that assure financiers that a project or event will be delivered; as well as errors and omissions cover to protect distribution challenges, had become imperative.
According to him, the entire content production ecosystem needs affordable, accessible micro-policies for our independent and emerging stakeholders and practitioners.
The sector, he added, needs “insurance and risk management structure that understands a call sheet, a shooting schedule, a film budget, exhibition, marketing and distribution”.
He noted that Nigeria needs frameworks that allow the film industry to grow, stakeholders to function effectively and practice without fear; unlock investment; protect film businesses and jobs; and that with the broad support of film practitioners, film industry guilds and associations, risk management providers and regulatory institutions, the development of pathways that could make insurance cover, a normal and necessary part of every Nigerian film production and content creation project, realisable.
Others dignitaries who spoke in support of enhancing the offerings of Nigeria’s creative ecosystem through the provision of friendly insurance cover and risk management structures included Hon. Ahmadu Usman Jaha, Chairman for Insurance and Actuarial Matters, House of Representatives; Mr. Idris Aregbe, Special Adviser to the Lagos State Governor on Tourism, Arts & Culture and Mr. Ayomide Adeagbo, Special Assistant to President Bola Tinubu on Art, Culture, Tourism and the Creative Economy.
