Succour seems to have arrived for the ailing industry-Nollywood. According to a report in Punch newspapers, World Bank will be disbursing $20m to Nollywood and the Music industry in Nigeria.
For Nollywood, the money will be contributed towards funding movies, training for existing and newcomers in the industry and also for distribution.
Distribution has been the major setback in the industry. Nigerians are ready to buy these films but apart from a few outlets, they are hardly available for purchase giving pirates a chance to reign supreme. Africa magic, a cable station dedicated to African films also benefits hugely from the lack of a proper distribution network in the industry as thousands of viewers subscribe to the station.
The Nigeria video and film censors board early in the year came up with some plans for distribution but these plans are yet to be realised. It is our hope that World bank will keep its word despite the many challenges they are bound to face.