The Federal Government has approved N300 million out of the three billion naira intervention fund for capacity building in the Nigerian film industry.

This is contained in a statement issued in Abuja on Sunday by Mr. Paul Nwabuikwu, Spokesman for the Minister of Finance and Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala.

“Action on the three billion naira support promised the Nigerian film industry by President Goodluck Jonathan has formally commenced with the roll out of a N300 million capacity building fund, “the statement read.

The statement noted that the capacity building fund was the first of a series of initiatives planned under “Project Act Nollywood’’, adding that It was made up of two components.

According to the statement, the first component is a Training Fund of N150 million, dedicated to training and skills acquisition for Nollywood practitioners in all competencies along the entire value chain of the industry.

The statement said it include; scriptwriting, directing, production and production design, special effects, lighting, sound, HD techniques, acting, cinematography, make-up and editing, among others.

It said the second component was the Capacity Development Fund which was also worth N150 million.

Source: DailyTimes