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Mofe-Damijo calls for private sector investment in film industry

Lagos – The Delta State Commissioner for Culture and Tourism, Richard Mofe-Damijo on Thursday urged the private sector to invest in the Nigerian film industry to boost the sector’s finances.

Mofe-Damijo  in Lagos said  that practitioners and government would benefit more with private sector involvement in the funding of Nollywood.

He noted that involvement of core investors would ensure adequate monitoring of the financial books of the industry, with both government and practitioners benefiting.

“Nollywood needs to attract core financial investors to help boost the country’s film sector.

“If that happens, it will open a new vista and practitioners will not be crying out for funds the way they are doing presently,’’ he said.

Mofe-Damijo also suggested the engagement of financial experts to take a holistic review of Nollywood and recommend areas where core investors could be involved.

He noted that the movie sector would move in the right direction with an organised and well thought out plan for its development.

According to him, government has no business funding the film sector but should merely create an enabling environment for the industry to thrive.

The commissioner said he had succeeded in attracting several investors into the tourism sector in Delta State, in spite of the crises in the Niger Delta region.

This, he said, was possible because of institutional backing his ministry got from the government. (NAN)


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