Date Published: 05/05/10

May 4, 2010

PRESS RELEASE

Investment Opportunities Limitless in Nollywood – Akunyili

The Minister of Information and Communications, Prof Dora Akunyili has described  investment opportunities in Nigeria's Nollywood as limitless and called on the European Economic Commission to invest in the industry.

“Our Nollywood wants to move to another level. EU is in a position to mobilise support. We are ready to partner with EU."

The Minister welcomed the collaboration and partnership between the Nigerian Film Corporation and Babylon International Film Corporation  funded by the European Commission. The Minister identified the Film Industry as a virgin ground for potential investors,  assuring of government's commitment to creating enabling environment for the film industry in Nigeria to collaborate and compete with the European film Industry.

Prof Akunyili expressed delight that the large delegation of film producers from Europe have found  Nigerian people warm, friendly and talented and are genuinely interested in advancing  Nigerian Film Industry.

The Director-General Nigeria Film Corporation, Mr Afolabi Adesanya explained that the emerging partnership between the corporation and the Babylon Film Corporation is informed by the  desire to expose the Nigeria Film Industry to the international market  as  potential foreign exchange earner. Mr Afolabi disclosed that the emerging partnership will cover important  areas of training and manpower development, technical assistance, cultural exchange and marketing. The leader of the delegation, Garry Jones said the interest of the European Film Industry in the Nigeria Nollywood is "simply huge and multi-dimensional". He described the Film Industry  as one full of talents, surrounded with huge culture and large market. He dismissed the misconception about business environment in Nigeria adding "that Nigerians are quite "nice, friendly and the culture is very attractive for commercial film production. We are here to invest in  developing the media industry"

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