The Honourable Minister for Arts, Culture, Tourism and the Creative Economy, Barrister Hannatu Musa Musawa, has secured a $200 million financing facility.
According to the ministry, the funding was secured with the African Export-Import Bank (Afrexim Bank) to support the growth of the country’s creative industry.
The Executive Director of the National Film and Video Censors Board, Dr Shaibu Husseini, has urged filmmakers to take the opportunity of the funding in 2025.
Husseini urged stakeholders to access the funding by securing grants for their productions.
He also advocated for a deliberate collaboration and capacity building to close the gap between Nollywood and other major film climes. “To compete with international film industries, there is the need for collaboration among Nigerian producers,” he stressed.
He cited the example of the Nollywood film ‘The Wedding Party,’ which was produced by four major production companies.
The Executive Director also stated that the Year 2025 would see improved funding mechanisms for stakeholders, greater collaborations with streaming platforms, increased number of cinemas and training programmes for youths interested in film production.
