President Goodluck Jonathan last Saturday, at the 30th anniversary celebration of the Silverbird Group, in Lagos, shocked Nigerian entertainers when he announced a $200 million (about N30 billion) lifeline in recognition of the enormous contribution the entertainment sector has made over the years towards the economic development of the country.

Announcing the gesture, Mr. President said: “it is my vision that every producer whether in the film or music industry, every actor or actress, fashion designers or artist must have opportunity to access cheap, long-term funding to grow their business: make movies, write hit songs, build malls, build cinemas, provide jobs and give hope to our people.”

Recall that the President late last month acknowledged the contributions of Nigerian writers, musicians and movie producers when he wrote on his facebook message entitled, ‘’Nigerian keep your culture” as part of his series of Nigeria at 50 years. Also, during the nation’s 50th independence anniversary, the President gave kudos to Nollywood. He equally made case for the industry by asking the nation’s embassy to begin to promote Nollywood and music.

Given this gesture, HVP sought the reaction of some of the practitioners and this is what they said…

Hope it’s not a political statement — Alex Eyengho, ANCOP president

It is no doubt a boost to the Nigerian entertainment industry. However, as members of the Association of Core Nollywood Producers (ANCOP), we hope this is not a mere policy or political statement.

In terms of utilisation, the Nigerian entertainment industry must first be properly defined. Nollywood’s share of the gesture should be put on hold and kept in an escrow yielding account until MOPICON is put in place.

For now, the fund should not be handed over to any individual or group of self-serving individuals in whatever names, masquerading as representative of the entire Nollywood practitioners.


List out modalities – Bond Emerewu, CONGA president

We are yet to understand the modalities for accessing the fund. Therefore, I cannot make any official statement in connection with the pronouncement by Mr. President at the moment. Actually, I’m aware of the announcement but we want to keep our fingers crossed as we watch development before coming out with a statement.

Don’t cause inflation —eLDee, musician

I don’t really know how they intend to release money to an industry that doesn’t have a structure. How did they even come by the figure? Some statements are just ambiguous. But if it’s true, it’s a good thing. The problem will be how to share the money. If they can work out a way so that a few greedy people will not sit on the money, that will work. You don’t just give stimulus to people without a structure. They should put a structure in place and then tell us what you want to be done with the money. Don’t just cause inflation.

Only elected excos should appropriate the fund — Emeka Ike, Actor

It is a welcome development but only a democratically- elected executives can appropriate the fund. The said fund can only be useful to Nollywood when the crisis rocking the industry is resolved.
Actually, we welcome the gesture but the industry must be refocused and made to be crisis-free to enable us benefit from the fund.

Soft loans is the way to go — Cally Ikpe, entertainment entrepreneur

The President has good intentions, no doubt, but I can’t trust the implementation. They have not shown me any sign of seriousness. They need to work hard and convince us this is not a fluke. I know he means well. The mechanics that will be employed so that this doesn’t turn into a national cake is what we await. I’ll suggest that the money should be deposited in the financial institutions and disbursed in terms of soft loans without stringent conditions. Integrity is also key. We should work on ourselves.

People shouldn’t take advantage of it.
I suspect it’s going to go the same way other funds have gone unless experts get involved.

http://news2.onlinenigeria.com/latest-addition/74643-200m-bonanza-for-the-entertainment-industry-Who-controls-the-fund.html

It will surely cause kasala,no doubt about that