The Minister of Arts, Culture, Tourism, and the Creative Economy, Barrister Hannatu Musa Musawa, has facilitated a $200 million financing facility to support Nigeria’s creative industry.
The funding comes in partnership with the African Export-Import Bank (Afrexim Bank).
Dr. Shaibu Husseini, Executive Director of the National Film and Video Censors Board, urged filmmakers to utilize the funding in 2025, particularly through grants for their productions. He stressed the importance of strategic collaboration and capacity-building efforts to strengthen Nollywood’s competitiveness globally. “To compete with international film industries, there is the need for collaboration among Nigerian producers,” he said.
He highlighted the success of The Wedding Party, a Nollywood blockbuster produced through the partnership of four production companies, as a case study of the impact of joint efforts.
Dr. Husseini added that 2025 would bring improved funding mechanisms for stakeholders, more partnerships with streaming platforms, an increase in cinemas, and training programs for youth aspiring to enter film production.
