Nigeria’s entertainment industry has over the years grew in leaps and bounds and the giant stride of movie industry (Nollywood) have earned them, the third largest industry in the world after the Hollywood and Bollywood. The music industry is not left out in such feat as the exports of artistes and their materials are popular and accepted through the length and breadth of Africa and around the world.
The entertainment industry effort needs to be sustained and consolidated upon to drive expertise, professionalism, effectiveness, efficiency and quality in production, post-production and distribution. The government can’t afford to stand aloof but rather invest for high possible returns, long term payoffs and diversification of the economy from crude oil.
Aside from the controversy that trailed former president Goodluck Jonathan Entertainment/Nollywood $200 million Fund and the denial by The Bank of Industry (BOI) for not receiving such fund for the development of the entertainment industry. Government should invest in the entertainment industry for the following reasons;
Diversification of the Economy: It is no longer news that the sole source of Nigeria’s revenue is from crude oil. The government as a matter of urgency need to invest in the entertainment industry for high possible return and provide alternative source of revenue accruing to government.
Practitioners Development: As the government stand to gain in investing in the entertainment industry, so also the entertainment industry will improve on its structural and practitioners development. The investment will go a long way in putting in place capacity and career building.
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Sophisticated Equipment: Investment in the entertainment industry by the government will improve the quality of creative productions of the entertainment industry through the usage of sophisticated and advanced equipment to record, produce and for post production of creative materials such as Animations, 3D films, Science-fiction productions among others.
Job opportunities: Such investment by the government in the entertainment industry has the potential of taking reasonable number of unemployed youths off the street as well as increases their motivation in exploring and exploiting their inner talents within the confines of the entertainment industry rather than constitute menace to the society.
Marketing and Distribution: The effect of such investment in the entertainment industry will be immensely felt in marketing and distribution of creative productions and reduces activities of the pirates. Since, fund will be available to create awareness, drive marketing and distribution.
Government investment in the entertainment industry creates an “everybody wins” atmosphere whereby government, creative practitioners, entertainment professionals, manufacturing industry, youths and the society has a lot to gain from such investment.
Written by Dosunmu Moshood
Twitter handle: @msdoes