Under President Bola Ahmed Tinubu’s Renewed Hope Agenda, the federal government has disbursed N1.5 billion to movie producers for their projects. This initiative is part of the N5 billion Creative Fund, launched in partnership with Providus Bank in December 2023.
The first disbursement, which began in May 2024, has seen N1.5 billion allocated to four actors and producers. Related Stories Standard Chartered Bank has indicated interest to fund Lagos-Calabar highway, Port-Harcourt-Maiduguri rail line – Edun World Bank plans supervision mission over Nigeria’s underperforming $500 million electricity loan project Fegho Umunubo, Special Assistant to the President (Office of the Vice President) on Digital and Creative Economy, announced this in a statement posted on his Instagram page.
He said, “ Following the successful disbursement of N1.5 billion to four actors/producers for their movie projects, we are excited to support even more creative projects. If you know someone looking for funding for their creative project, share this email address: creatives@providusbank.
com. We’re proud to empower Nigerian creatives and bring more amazing projects to life!” The screening process for the second batch of applicants for the N5 billion fund is currently underway. The creative industry is one of the country’s fastest-growing sectors, and this funding aims to further its development.
In addition to the Creative Fund, the federal government, in collaboration with the African De.