Thirty-two film projects have been selected from the first batch of 38 pre-qualified to benefit from federal government’s film production intervention fund
| By Chinwe Okafor | Aug. 4, 2014 @ 01:00 GMT
ABOUT 32 movie firms in the country have benefitted from the federal government’s film production fund. The movie firms are among those that have already benefitted from the N3 billion Presidential Intervention Fund for the Nigerian movie industry, Project ACT Nollywood, after successfully passing through rigorous assessment processes.
A statement to this effect said the 32 film projects were selected from the first batch of interviews out of the 38 which applied for the film production fund. The first batch of interviews was concluded last week. About 253 applications were received from film production companies during the application period from November 11, 2013 to February 28, 2014.
During the period of assessment which lasted from March 3 to April 25, 2014, 167 firms which applied were prequalified. The 86 applications that did not go through were those that did not submit the complete documentation required by the assessors for their reviews and marking. As part of the process, all applicants were invited to attend a two-day workshop in Lagos, Abuja, and Kano to be trained on how to develop business plans for accessing film financing and other requirements for the second stage of assessment.
Though not compulsory, about 121 applicants attended the workshops. The second stage of assessment lasted from May 27 to July 1, 2014, during which the business plans submitted by prequalified applicants were assessed. For this process, 115 applicants were invited for interviews. However, the 32 winners who finally emerged are only the latest beneficiaries of the Presidential Intervention on Nollywood.
Among the production companies that were finally selected were Minek Entertainment and Films Limited; Denziot Integrated and Logistics Limited; Alternativ Cinema; Zealview Nigeria Limited; Greenville Production Internatinal Ltd; Akins Squared Limited; November Productions; Ruby Diamond Nigeria Limited; Green Waters Production; Viseosonic Studios Limited; Brickwall Communications Limited; Kasvid International Ltd; Ayiba Communications; Phoenix Visions Production Limited; Tayekeni Productions Limited and Black Tower Production.
Others were\ Karr Resources Limited; Black Ivory Limited; 601 Realtime Ltd; Videofield International Limited; Ogeney Entertainment Limited; Zeb Ejiro Productions Limited; Peculiar Communications Limited; Golden Pyramid Productions Limited; Wale Adenuga Productions Limited; Raconteur Productions Limited; Shadow Plus Motion Pictures; Karami Multimedia Limited; Azurfa Film Production Company Limited; Ramat Productions Limited; Haszain Global Resources Ltd and BIK Entertainment.
The Film Production Fund, FPF, is a N700 million instrument which allocates grants to production companies and independent producers for the making of commercially viable films at any stage of production. The stages are pre-production which is scripting, budgeting, location, cast and crew production which includes shooting and film setting. There is also the post-production stage which includes editing, sound, and graphics as well as marketing/distribution/exhibition which involves selling the movie to audiences.
The FPF contributes to commercially viable film projects with grants of up to N10 million even though a small number of film projects may be considered for higher grants. In making these grants the initiative supports the further development of the Nollywood film industry and filmmaking talent. Eligible formats include feature films, documentaries, animation, short films, TV formats. Movies may be in English or in other indigenous languages. To qualify, movie projects must have national and international appeal.
Project ACT is a federal government of Nigeria’s initiative managed by the Ministry of Finance in partnership with the Ministry of Culture and Tourism. It encourages the sustained growth of Nigeria’s movie industry to realize its potential as a significant creator of employment and contributor to national GDP. The project aims to alleviate the obstacles to the sector’s growth and promote key components of the movie value chain through the provision of grants to support existing or aspiring practitioners within the industry.