The Bank Of Industry has moved to stem the challenges of film distribution, a major minus crippling the Nigerian Movie Industry.
According to BOI, tackling the issue of distribution, apart from having a multiplier effect on the industry, also guarantees that the whole production process is not just jeopardised by market uncertainty.
The project, which is in partnership with Nollywood distribution giant, Gabosky Films Inc, is being funded out of the $200 million earmarked by BOI from an expected $500 million grant from the African Development Bank to revamp and enhance the nation’s industries and entertainment sectors.
Speaking at the pre-launch press briefing of G-Media, Ibrahim Ahmed, the Senior Manager, Bank Of Industry, disclosed that over N2.5 billion had been approved and earmarked for the entertainment sector, adding that about N1 billion had so far been disbursed.
Ahmed reiterated further that the sector enjoys the full support of the bank’s Managing Director, Evelyn Oputu, who had created a specialised division manned by dedicated professionals to attend to the needs of the stakeholders.
Ahmed said: “BOI decided to partner with Gabosky because we see the entertainment industry as a business and we are ready to deal with those who are ready to approach us in that light.
“Our mission is to transform the Nigeria industry sector and integrate it into the global economy in order to attain modern capabilities.”
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