When President Goodluck Jonathan announced the federal investment of $200 million (N30 billion) into the development of the entertainment industry in November 2010, he sent shock waves of disbelief through Nollywood. Last week, Goodluck’s promise appeared to be on the road to actualization when Minister of Finance Olusegun Aganga announced that the $200 million–now known as the Special Entertainment Fund–will be distributed by the Bank of Industry (BOI) as single-digit interest rate loans. The Lagos Business School will provide “entrepreneurial capacity training” for beneficiaries of the Fund. As of January 17, the on-line application for the Fund became available on-line: http://www.boinigeria.com.
When I spoke to Madu Chikwendu, Regional Secretary of the Pan-African Federation of Filmmakers (FEPACI), he was enthusiastic about the Fund’s pioneering status: “I think what’s important is that the fund is even there in the first place. It’s never happened before, since the first year of Independence. I don’t know anywhere in the world where any government has brought this amount of money for the industry.”
However, I failed to find any mention of the Special Entertainment Fund when I browsed the BOI website yesterday and today. I used the site’s search engine and reviewed each page for any information relating to the Fund several times, but was not successful. The closest item that I encountered to an application was an interactive feature on the home page explaining “3 Easy Steps to Accessing BOI’s facilities”:
There was no explanation of what these “facilities” entailed. In addition, none of the steps linked to any forms, or dispensed information on how to fill out such forms, or even where to submit them!
For the sake of fulfilling President Jonathan’s original promise to “grow Nigeria’s entertainment industry into a world-class one”, I hope that the BOI will fix this website glitch shortly.
Have any of you been able to successfully apply to the Special Entertainment Fund?
[Update: January 20, 2011] I spoke to Afolabi Adesanya, Managing Director of the Nigerian Film Corporation, and hard copies of the application should be available at the BOI head office (address below). Please let me know if anyone is successful in picking these up.
P.O.BOX 2357, Lagos
Tel: 01 2715070-99