To ensure active participation of banks in the film industry, the Federal Government, yesterday, inaugurated a committee to develop a comprehensive statistical study and data analysis for the Nigerian Film Corporation (NFC).
The inauguration involved a technical committee made up of members from both the National Bureau of statistics and the Nigerian film corporation, headed by Dr Yemi Kale and Dr. Chidia Maduekwe respectively.
Speaking at the inauguration of the committee, in Abuja, the Managing Director of NFC, Dr Chidia Maduekwe, said that the committee will provide reliable data needed to showcase the project as well as galvanise opportunities and investments in the film sector.
According to him, the benefits of the Nigerian film industry are to facilitate the planning and decision-making processes within the sector.
Also, the film industry will stimulate the formulation of appropriate policies for the growth of the sector.
Beside providing a guide on investment decision-making for both the domestic and foreign investors, the industry will encourage the active participation of banks and other financial institutions in financing the film industry, the MD, noted.
“There is no doubt that vast opportunities exist in the film industry to accelerate the growth of the Nigerian film creative economy and the Nigerian Film Corporation is more than ever ready to reposition the film industry for greater development. I, therefore, consider our collaboration with the National Bureau of Statistics (NBS) as very important. The project when completed will add impetus to the Nigerian film industry statistical reckoning in line with the Economic Recovery and Growth Plan (ERGP) of the present administration” he said.
The ERGP of the Federal Government, Maduekwe, said, identifies the film industry as one of its priority sectors given its capacity to generate jobs and create wealth.
“Consequently, the government is making several interventions to help stimulate economic activities in this sector.
“This NBS/NFC collaboration shall generate policies and measures that will encourage further growth and investments when put in place to guarantee overall success for the industry” the MD, noted.
Earlier, the Statistician General of the Federation, Dr Yemi Kale, had highlighted the importance of data in the film industry, saying that it would engender growth of the industry and arouse investments in the sector.