The Nigerian Film industry has gotten an approval of N300m from the Federal Government, part of the Entertainment Fund, which was pledged last year by President GoodLuck Jonathan.

Nigerian Finance Minister, Okonjo-Iweala, who manage the Presidential Intervention Fund called ‘ACT Nollywood’, with her partner, Chief Edem Duke of Culture and Tourism, has revealed this, stating that the Nollywood deserves this support because of the numerous values it had added to the economy by creating job and projecting Nigeria to many parts of the world.

According to the Special Adviser on Communication to the Finance Minister, Mr. Paul Nwabuikwu, Okonjo-Iweala said the fund would be launched on Monday, 22^nd July, 2013, through creation of a website, where it could be assessed.

Mr. Paul also stated that the capacity building fund was the first in a series of initiative planned under project Act Nollywood.

“The N300million Fund is to cover two component of the industry; N150m for Training an Skills acquisition by Nollywood practitioner in all competencies and then the other N150m for Capacity Development to give grant existing Nigeria-Owned private institutes that offer training courses, programmes and technical certification in the movie industry”, he explained.