The Nigerian Film Corporation, NFC, and the Nigerian Bureau of Statistics, NBS, have jointly inaugurated a technical committee that will further produce data on the Nigerian film industry, Nollywood.
Statistician-General of the Federation/CEO of the NBS, Dr Yemi Kale, and the Director-General of Nigerian Film Corporation signed the MOU on May 4, 2021.
The arrangement involves the provision of accurate data about Nollywood for the NFC by the NBS rather than estimates that are available in the past.
This has until now, made impacts on its figures and contributions to Nigeria’s GDP, which it is arguably a big part of.
The signing migrates NFC to a place where it can have verifiable data and especially encourage foreign investors.
Speaking at the event, the MD/CE of Nigerian Film Corporation, Dr Chidia Maduekwe, said “we want to migrate from a situation where we are just making estimates to where we can have verifiable data from National Bureau of Statistics which will encourage foreign investors.”
The establishment and empowerment of the NFC in 1979 were to lay a solid foundation for the development of a viable and sustainable film industry and cinema culture in Nigeria.
The new set up is part of the NFC’s responsibility to plan, promote and organize integrated and efficient development of the Nigerian film industry.
It will further enhance national planning and economic growth.
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