The Nigerian Film Corporation led the Nigerian delegation to the 2020 Berlinale International Film Festival that held in Berlin, Germany. The event is major in the calendar of film activities across the globe and attracted international delegates who witnessed the flamboyant and exciting festival.
At the event, the Nigerian delegation led by the Managing Director and Chief Executive of the NFC, Dr Chidia Maduekwe met with various investors, international film bodies and producers with a view to securing solid partnerships for Nigeria’s film industry
Dr Chidia assured them that Nigeria has made significant gains in the development of her motion picture industry and opportunities for investments abound with good returns on such investments. He said successive governments in Nigeria has put in place policies and measures that will encourage further investments and growth in the industry and was confident the various interventional policies will engender investment and growth.
Under the international ease of doing business policy as well as the Creative Industry as Growth Engine of Africa Continental Trade Agreement, (AFCTA), initiative, the Federal Government through the Bank of Industry (BOI) has approved several billions as financial grants to film and creative firms to help boost business activities in the industry.
The government has also put in place fiscal policies and incentives to encourage investments in the industry. This includes tax rebates and reduction of import duties for foreign film makers moving in with heavy film equipment into the country.
Again, in collaboration with the Nigerian Bureau for Statistics, the NFC is hopeful that in no distant time, a comprehensive and holistic statistics and data for the Nigerian Film Industry will be will be produced and made available to the public as a measure aimed at boosting investors’ confidence.
The government through the NFC is also giving attention to training and manpower development for the film industry, especially among young film makers as a means of bridging the gap skill gap being envisaged.
The Corporation hosted an investment forum at the festival during which it demonstrated that the Nigeria is now the hub of film making in Africa and expressed confidence in in the renewed business potentials in Nigeria’s film and creative industry.