Emeka Ike reveals how former president, Jonathan’s N3 billion Nollywood fund flopped


 

Veteran actor Emeka Ike has brought to light significant concerns about the management of funds allocated to the Nigerian film industry.

Emeka, during a recent interview, opened up on an N3 billion fund introduced to the industry during the administration of former President Goodluck Jonathan.

Launched in March 2013, the N3 billion initiative, “Project Nollywood”, was a significant step towards revitalizing Nigeria’s film industry.

Before the initiative, Nollywood was ridiculed for low-quality content, which affected the growth in production and sales.

At the time, the initiative aimed to assist filmmakers by providing grants for film scripts that supported skill development and improved industry infrastructure.

According to the veteran, many movie makers could not access the funds, as it was alleged that the funds were unfairly distributed to a select few.

There have been other cases of funding concerns in the industry.

In 2010, Jonathan’s administration announced a $200 million (N32 billion) revolving loan scheme which also faced criticism due to accessibility issues. The movie star emphasized the lack of structures and unity in the industry were the critical factors contributing to the poor distribution of funds.

Emeka also advocated for stronger governance and the establishment of formal industry frameworks, to prevent similar issues in the future.

He noted that one of the factors hindering proper fund allocation, is the lack of accountability arguing that the process could have been more transparent and equitable if the government had engaged with industry bodies like the Actors Guild of Nigeria (AGN) or the Theatre Arts Practitioners Association of Nigeria (TAMPAN).

“Moving forward, I would advice that if we have structures like AGN, NANTAP, ANTP, and AMP, the government should consider releasing such funds after establishing a relationship with the bodies representing us,” Emeka said.

He concluded, “Dealing with individuals like me or Uncle Bob Manuel alone is not enough. It should be an industry-wide process with a clear framework representing all of Nollywood.”