Lagos - Film practitioners who applied for the Innovative Distribution Fund (IDF) segment of the N3 billion grant called Project Act Nollywood established by the Federal Government may have to wait, reports AllAfrica.com
This is due to the suspension of the grant until the outcome of a committee report on the entire funding initiative.
The decision to put the disbursement of the distribution grant on hold followed a meeting between the Minister of Finance, Kemi Adeosun, and some selected practitioners of the industry.
Also read:Government to restructure Project Act Nollywood
The meeting, which held last Friday at the Ministry of Finance conference hall, also had representatives of the Minister of Information and Culture and key parastatals, like the National Film and Videos Censors Board, the Nigerian Film Corporation and the Nigerian Copyright Commission in attendance.
Most practitioners who attended the meeting had hoped that they would get the minister's nod for the immediate disbursement of the N1.9 billion, which is what is left of the Project Act Nollywood fund.
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