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FG Releases N215.5 Grant For Nollywood Creativity Initiative

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The Federal Government has released N215.5 million out of N700 million earmarked for the Nigerian Creative Industry.

26 movie producers benefited from the initiative which kicked off with the signing of Memorandum of Understanding on Tuesday, November 18, 2014. The beneficiaries received grants ranging from N2 million to N15 million.

At the signing of an MOU with all the 26 movie producers, the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozie Okonjo-Iweala said the move is aimed at having an inclusive approach towards helping the creative industry.

Okonjo-Iweala explained that the government was embarking on the implementation of the initiative because of the important contribution the sector was now making to GDP and appealed to them to use the grant wisely and productively.

The Minister said that it would be good for Nigerian movie producers to come together in groups in order to make government’s intervention easier.

Producers that got the grants include: Desmond Elliott, Emeka Osai, Gabriel Afolayan, Tunde Kelani amongst others.

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