Minister Explains Commercialisation Of Film Industry

The Federal Government says it is reforming and commercialising the Nigerian film corporation (NFC)to address the agency’s teething challenges and repositioning for improved performance.
The minister of information and Culture, Alhaji Lai Mohammed made this known on Monday in Abuja while inaugurating a steering committee for the reform and commercialisation of the corporations.
He said the federal government has engaged the services of a Business Development Consultant to conduct a due diligence on the corporations and sector and recommend a strategy that is suitable for its Reformation and commercialisation.
Mohammed said the NFC which was established with a mandate to plan, promote. Organize and coordinate the development of Nigerian motion picture industry has not been able to meet up with its statutory functions.  He noted that since its establishment the corporation has faced several challenges including inability to engage in commercial film production.The minister said the law establishing NFC limits its operational functions such that it can not leverage on the private sector led growth of the industry.
He added that the National Film Institute (NFI),a unit of the NFC is not empowered to leverage its technical and professional capabilities for commercial purposes and revenue generation. He noted that the NFC civil service structure comes with bureaucratic limitations, budgetary constraints and operational inefficiency.
“ A critical look at the existing organizational structure, shows that NFC has obsolete equipment with some dating back to colonial times”, he said.
The minister noted that the reform of the corporation will help in efforts of government to reposition the nation’s film industry , Nollywood and make Nigeia the capital of entertainment in Africa.
Relying on International Monetary Fund(IMF)data Mohammed said Nollywood is the second largest employer of labour and contributed to N893 billion to the Nation’s Gross Domestic Product (GDP)in 2015.The minister noted that Nollywood could perform better if the NFC is restructured.
NFC established by Decree No 61 of 1979 is 100 percent owned by the federal government and has its registered office in Jos,Plateau State. It is established to distribute documentary films on different aspects of Nigeria’s socio cultural and political life and produce film services for the federal government.
The corporation is to train young talented Nigerians in the act of film making, conduct research into Nigerian films and provide technical and financial support to film industry and practitioners. NFC is also established to regulate and organise professional practice in the film industry.