Zuma Film Festival: Aliyu Recommend Grants, Tax Holidays, Rebates For Creative Industry 

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Dr. Ramatu-Aliyu.

Dr. Ramatu Tijjani Aliyu, Minister of State for the Federal Capital Territory (FCT), has hinted that the only main approach for the government to make the creative industry appealing to investors and big players is to provide various waivers, grants, tax holidays, refunds, and other relevant incentives.

She gave this hint during the 2022 Zuma Film Festival lecture.”Post Covid-19 financial policy framework collaborations between the Federal Capital Territory Administration (FCTA) and the Nigerian Film Corporation (NFC), for the Nigerian film industry through rebates, location incentives, tax credits, and film grants.”

She bemoaned the establishment of a film industry development fund that has received only lip service over the years, adding that the film industry needs to be developed.

She, however, assured that the present administration is leaving no stone unturned to ensure that the tax environment is investment friendly, noting that an investor-friendly tax environment would certainly attract foreign investment because the tax incentives available within a nation’s tax environment constitute veritable opportunities for local and foreign investors to build on.

“With the return to democracy in 1999, several waivers, grants, tax holidays, rebates and incentives were given to super industrialists, who embraced all these and have been waxing very strong from available statistics.

“It, therefore, becomes very logical for us to try these same measures which have worked in the agricultural, manufacturing sectors and see if they wouldn’t also succeed in the creative industry sector. A major way in which the government can make this industry very attractive to investors and major players alike is by the provision of various incentives,” she emphasised.

While acknowledging that the Covid-19 pandemic has taken a toll on countries, global economics, industries, families and individuals and has left humans with the “new normal”, she, however, reiterated that the FCT Administration was poised to provide all the necessary incentives that would attract the film industry into the nation’s capital city.

Meanwhile, the Director-General and Chief Executive of the Nigerian Film Corporation, Dr. Chidia Maduekwe, has pointed out that the Nigerian Film Corporation Annual Lecture series remains one of the corporation’s platforms used to contribute to the evolvement of policy frameworks and documents for the development of critical areas of the nation’s creative economy.

According to him, “Policy documents and frameworks are by no means mere directional intents; rather, they are key navigational and instructional compass which provides clear and distinct objectives as well as the means to achieving them.”

Maduekwe harped on a policy framework that would not only provide the needed opportunities but could exacerbate the needed impetus to grow the Nigerian creative economy.

While recognising some of the challenges faced in the film production chain in the country, the NFC boss called for adequate and appropriate return on investment for film and other creative works.

“We are aware, that securing locations for a film shoot that would depict Nigeria in its beautiful state don’t abound. Where they do, filmmakers find it difficult to access them. However, we believe that with the existence of a policy framework, accessibility to film locations will be achieved with ease,” he stressed.

 

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