Nigeria’s Minister of Finance, Ngozi Okonjo-Iweala, has unveiled plans by the Federal Government to boost the economy using creative arts as its vehicle.
Okonjo Iweala made the declaration in Abuja yesterday, Tuesday, November 18, 2014 at the signing of a Memorandum of Understanding (MoU) with 26 movie producers under the Presidential Intervention Fund for the Nigerian movie industry.
According her the minister, ‘ President Goodluck Jonathanis very much aware of the contribution of creative industry to the economic development of the country and I think several states have also tried to attract the industry.
From what I understand, issues of intellectual property, quality and so on, are paramount and that is why the president thought that he would put this initiative together to support the industry. He had always believed in the power of the creative industries to try and help transform the country.
This is through the employment that the industry will create for our young people, particularly those that have left the university.’
The minister said the N215.5 million provided for the film producing segment of the movie industry is to support it to improve on film production in the country.
She explained further that the initiative is to support the industry in addressing the challenges of intellectual property and quality in the industry, while also saying the industry has so far created no fewer than 200,000 direct and 1 million indirect jobs worth $250 million.
Nollywood figures who attended the event include Desmond Elliotand Emeka Ossai