The Federal Government on Wednesday said it had inaugurated the N700m Film Production Fund which would help allocate grants to production companies and independent producers for the making of commercially viable films at any stage of production.
A statement from the ministry of finance listed the production stages as Pre-production (scripting, budgeting, location, cast and crew); Production (shooting, film set); Post-production (editing, sound, and graphics); and Marketing/distribution/exhibition (selling the movie to audiences).
The FPF contributes to commercially viable film projects with grants of up to N10m.
The statement said a number of medium budget film projects would be considered for a higher grant contribution.
“Funds are used to subsidize pre-production, production or post-production costs of films, and in making these grants the initiative supports the further development of the Nollywood film industry and filmmaking talent,” it said.
Also, the statement said about 40 practitioners in the Nigerian film industry had been awarded various grants under the recently inaugurated Capacity Training Fund of the Presidential Intervention scheme for the industry, also known as Project ACT Nollywood.
It said the applications submitted by the practitioners successfully scaled the rigorous qualification processes for the training and skills acquisition segment of the Capacity Building Fund.
The grants, which are currently being processed, will enable the practitioners to receive high quality training in accredited institutions to improve their competencies in various areas of film craft.
Punch
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