Nigeria’s Entertainment Industry In 2017 …Policies, Achievements

The entertainment industry in Nigeria has come a long way with remarkable achievements since the beginning of the Present administration in the country. According to a recent report, the Nigerian media and entertainment industry is currently estimated at $4 billion and still growing.
The entertainment and creative services department is one of the newly created departments in 2017 out of the old department of culture, for effective administration of culture in Nigeria given dedicated attention to the nation’s entertainment and the creative sector.
The main policy thrust of the entertainment and creative services department are to develop the sector in order to contribute to the Gross Domestic Product (GDP). The department is charged with the following: Formulating policies on entertainment, promoting private/public collaboration in the development of the entertainment industry and providing the regulatory frame work for the entertainment sub-sector.
Other functions include: packaging the entertainment content of the country, generate employment and create wealth for the youths, Developing and promoting cultural festivals and carnivals, relating with Nollywood for advisory services, overseeing the activities of the National Troupe of Nigeria and the National Threatre, provide structure for entertainment and creative sector in Nigeria for proper coordination among others.
Overtime, the government has engaged stakeholders in the creative industry having acknowledged the potentials of Nollywood as a money spinning sector that could help boost the nation’s economy. One of the major steps taken by the federal Government in this direction was the decision to give a tax break for the creative industry.
The gesture which was in fulfillment of the promise made by the Vice President, Prof. Yemi Osinbajo represented by the Minister of Finance, Kemi Adeosun at the opening of the creative industry financing conference in Lagos to grant the industry pioneer status.
This was greeted with excitement on the part of the stakeholders who described it as a welcome development. However, it has been observed that the present administration of President Muhammadu Buhari is concerned on creating an enduring structure for the industry rather than splashing money on its stars.
A pointer to this claim was the creative industry financing conference held in Lagos between July 17 and 18 2017 and had in attendance major stakeholders within and outside the shores of Nigeria.
The conference was geared towards taking the industry into a golden era of smooth access to short and long term financing, world class management as well as local and international distribution.
The conference became an eye opener for the stakeholders as they realized how much lack of access to financing is stunting the growth of the creative industry. The confab was a follow up to the landmark National summit on culture and information to chart a new path for the industry.
These are pointers to the genuine intention of the present administration to make entertainment industry an alternative to oil and gas in Nigeria.
Recently, the National Film Corporation (NFC), the Nigerian Copy Right Commission (NCC), the Nigerian Film and Video Censors Board (NFVCB) and the Nigerian Broadcasting Commission (NBC) jointly endorsed the establishment of the National Film Development to tackle the lack of funding for Film Production activities in Nigeria.
So far, the Nigerian entertainment industry has recorded tremendous growth in the past one year. This is as a result of the active involvement of both the government and the private sector. Not quite long, the Federal Government released about 420.2 million to the movie industry to improve and support aspiring practitioners.
Another area where the present administration recorded significant break through is the war against piracy. The regulatory body NFVCB in collaboration with its sister agency NCC and the Nigeria Police set up a National taskforce to clamp down on movie pirates.
The Task Force has made several arrests while other pirates are being prosecuted in various courts across the country. This move has led to the reduction of the nefarious activities of pirates in the industry.
It is on record that Nollywood has defiled the pirates and economic recession in the country and has grossed an amazing N1 billion from a record of 50 indigenous movies in 2016. The figure represented nearly 30 percent of the N3.5 billion generated from 28 cinemas across the country including movies from Hollywood, Bollywood and other countries.
Films like the wedding party, a trip to Jamaica, wives on strike, ’76, Okafor’s law, the CEO and 93 Days all shettered box office records. From all indications, the industry has not fared badly in the last one year growing from strength to strength with the government providing direction which has been lacking in the industry over the years One can also acknowledge the pioneering role the present administration has been playing in repositioning the industry for a better performance.
Despite these achievements, some stakeholders are still of the view that the industry is largely self sponsored and private sector driven and that there is much to be achieved if the government would sustain its growing interest in the industry.
According to former President of ANCOP, Alex Eyengho “the government should have a clear plan to further deepen Nollywood’s global presence through mounting Nigerian pavilion at major international Film festivals in addition to ratifying and domesticating all relevant Wipo treaties signed since the early 90s. We should also go into immediate co-production treaty arrangement with other film producing nations, this way we shall rule the world”.
Apart from films, the music industry is equally doing very well both in the local and international scenes. The industry has grown from taking little steps to giant strides. Thanks to the creative young Nigerian artistes who have kept the fire burning without relenting. They are about the best music makers across Africa. Some of them are brand ambassadors of multi billion Naira companies and had placed them on global scale.
Artistes like AboloreAdegbolaAkande also known as gice has performed in different concerts both home and abroad especially at the 90th Nelson Mandela birthday tribute concert where he sang his popular song KongoAso in London. He was the winner of 2008 Hiphop world award. Other Nigerian music stars who have won prestigious international awards, are wizkid, Davido, p-Square, 2 Face, D’banj etc.
It is not a surprise that music is a multi billion dollars industry and one of the highest paid industries in the World. Artistes make money through endorsements, albums sales, tours and concerts as well as other business ventures.
Another sector of entertainment, stand up comedy has become a profession with a vibrant and lucrative approach in Nigeria. The country also parades internationally acclaimed comedians such as Basket mouth, Julius Agwu, I go dye etc.
Despite all odds, the fact still remains that entertainment has not only contributed to the economic growth of Nigeria, it is also playing a major role in the rebranding and laundering of the country’s image abroad. Entertainment is an important part of the society. That could be likened to goose that lays the golden egg.

Jacob Obinna