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NIGERIAN ENTERTAINMENT FUND IS REAL

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.


• Orya with Jimmy Jean Louis, Isiah Washington and Ebbe Bassey
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.

Orya disclosed that the partnership symbolises the flag-off of NEXIM’s support for film production in Nigeria. He reckoned that Nigerian creative arts and entertainment industry has done creditably well in the socio-economic development of the nation. The industry has, by recent estimates, created over one million jobs directly and indirectly and generated a minimum of $500 million in revenue annually. The industry is adjudged as the most prolific in the world, producing over 2500 films yearly in the past three years.

However, while the industry is on the right path towards enhancing sustainable growth and development, Orya said there is still room for improvement in technology and the establishment of quality exhibition infrastructure. The bank boss also disclosed that the bulk of the benefits derivable from film productions are from film exhibitions and stated that Nollywood needs to adopt strategies to participate in the global market.

The guideline for obtaining the loan is simple. Producers only need to present a bankable business plan for a facility that attracts a single digit interest rate.

An elated Abulu said Nollywood will become considerably stronger with a structured funding scheme. He said with the necessary fund coming from NEXIM Bank for the shooting of Dr. Bello, Nigerian movie industry is set for the next level. “With what we are witnessing now, I can assure you that Nollywood is about to fly. We cannot continue to depend on our oil revenue. We have to begin to make products ourselves and package them for the international market. Those stories must be of an international standard,” Abulu said.

Abulu, who is also President, Filmakers Association of Nigeria, USA, is putting together a cast of top Hollywood acts that includes Isaiah Washington, Jimmy Jean-Louis, Vivica Fox, Bern Cohen, Victor Browne and Ebbe Bassey to be supported by 40 Nollywood acts, including Genevieve Nnaji, Stephanie Okereke and Desmond Elliot.

Dr. Bello tells the story of a brilliant cancer specialist, Dr. Michael Durant, who battles with the traumatic loss of his 10-year old daughter from cancer. He blames his wife for the tragedy and he immerses himself in work, eventually bonding with sick seven year old Sam, son of a rich Jewish couple who are major contributors to the hospital’s cancer research fund.

With only a few days to live, a Nigerian nurse convinces Durant to seek the help of Dr. Bello, an uncertified Nigerian doctor known in the Brooklyn-African underground as a miracle worker. Dr. Bello secretly visits the child at night and administers a strange African portion and incantations. The next morning, the child is on the path of recovery. However, the hospital medical board suspects foul play and at that point, the plot thickens. The multi-million dollar movie project, Abulu said, will primarily be distributed in Nigeria, USA, UK and other African countries.