Tony Abulu, United States-based Nigerian filmmaker becomes
the first beneficiary of the $200million intervention fund promised the
entertainment industry by President Goodluck Jonathan
On 6 November 2010, President Goodluck Jonathan announced a
$200 million (N30 billion) intervention fund for the entertainment industry.
Jonathan made the gesture on the occasion of the 30th anniversary of the
Silverbird Group in Lagos after its CEO, Ben Murray-Bruce, challenged him to
demonstrate his avowed support for the entertainment industry.
Jonathan unexpectedly announced what became the first major
government intervention in the Nigerian entertainment sector.
“Nollywood is getting set to take over the world. I
recognise the entertainment in the Nigerian economy and this government will
support an industry that makes Nigerians happy. I have given them direct order
to make sure entertainers have $200million worth of loan to work with. Make
more movies, write and produce more hit songs, provide jobs and give hope to
our people,” Jonathan said.
Given government’s long-standing reputation for promising so
much and delivering little or nothing, not many people expected Jonathan’s
promise to be fulfilled. But three months later, Olusegun Aganga, the then
Finance Minister, announced to stakeholders in the entertainment industry the
release of a Special Entertainment Fund.
A little over a year after the fund was released, Nigerian
Export and Import Bank, NEXIM, has unveiled its first beneficiary. That honour
belongs to Black Ivory Communication, a United States-based film production
company owned by Nigerian filmmaker, Tony Abulu.
At a press conference in Lagos, Roberts Orya, CEO, NEXIM
Bank, expressed delight at announcing Black Ivory as the first beneficiary of
the facility for film production. He said the bank has entered into partnership
with the production outfit, with the announcement of the beneficiary’s movie
production, Dr. Bello, which has a cast of top Hollywood and Nollywood actors.
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