Nollywoood News: Goodluck Jonathan Invest N30 Billion in Nigerian Entertainment Industry

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President Goodluck Jonathan has had a strong desire to grow the Nigerian Entertainment industry since the 50th Independence celebrations, recognizing the economic strength of the music and film industries.

Goodluck Jonathan recently wrote and further comment:

“I have just attended the 30th anniversary celebrations of the Silverbird group where I announced a Federal investment of 200 million dollars (about 30 billion naira) as a direct intervention lifeline for the exclusive purpose of supporting artist and developing our entertainment industry.  It is my vision that every producer whether in the film or music industry, every actor or actress, fashion designers or artist must have opportunity to access cheap, long-term funding to grow their business: make movies, write hit songs, build malls.”

While the announcement of his investment is a seemingly a positive direction for the Nigerian entertainment industries, particulary Nollywood, it is not with surprise that this is most likely a propeller for a political platform to garner endorsement and political support from such artists in the these industries.

Reaction to President Jonathan’s promise:

Nollywood thrived without the government, so the government will make a huge mistake to make a promise and fail. Nollywood will still succeed with or without the government. The government should be weary of that but if Nollywood succeeds without the government. Nollywood will be churning out a world view that the government will be worried about because you would have left it to charlatans; but if the government controls it, then we can have some form of order

– Fred Amata

‘It’s a welcome development and a great idea’

– Segun Arinze

‘Oh yes, I expect that if the president makes a promise he’ll keep his promise so I think it will materialize and it’s about time too because Nollywood is about the largest fast growing movie industry in this region ,and the bane of the industry so far has been adequate funding because you need money to make good films. So with more money, we’ll get better films and people will enjoy going out more to watch movies’

– Grace Egbagbe

‘By all means, he’s a man of his word. We’ll expect to see the manifestation and the result of the $200million offered’

– Zack Orji

‘I think it’s very promising for our industry but seriously we’re here to stay, we are not going anywhere because we need to grow and we’re all happy about that. Well, it’s for us to make sure that they keep to their promise so we need to hold on to their words. Hence, the entertainment industry as a whole is going to grow’

– Stephanie Okereke

About Post Author

Anthony-Claret Ifeanyi Onwutalobi

Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
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