In a bid to bridge the funding gap in the creative industry, the Federal Government has established a National Endowment for the Arts.
Speaking during his maiden Roundtable with stakeholders in the movie industry, tagged ”Redefining The Nollywood Strategy” on Sunday, the Minister of Information and culture, Alhaji Lai Mohammed, acknowledged that lack of funding as been one of the major challenges facing the movie industry, and believe the National Endowment for the Arts would help tackle that challenge not only for the movie industry but the entire creative industry.
“Like the American model, we should at this time – when we are trying to streamline spending – think of having a properly established National Endowment for the Arts (NEA) that will service all genres of the arts. I have no doubt that the establishment of NEA will facilitate the introduction of Tax Rebates as incentives for sponsors of the arts and will give prime place to the arts and cultural sector in budgeting processes, since it has capacity to create massive job opportunities.
”The good news is that, as part of our massive social intervention policy, this administration has made available the sum of N500 billion naira to be accessed by creative people like you as well as artisans, market women, unemployed youths and others,” he said.