Why Jonathan’s N3 billion Nollywood fund flopped — Emeka Ike

In March 2013, former President Goodluck Jonathan launched a N3 billion initiative called “Project Nollywood” to revitalise Nigeria’s film industry.

At that time, Nollywood was experiencing growth in production and sales but continued to face criticism for its low-quality content.

‘Project Nollywood’ aimed to provide grants for film scripts, support capacity development, and improve industry infrastructure. It sought to address Nollywood’s challenges and foster growth. However, many filmmakers reported difficulties accessing the funds, claiming they were disproportionately allocated to a select few.

A previous revolving loan scheme of $200 million (N32 billion), announced by the president in 2010, was also plagued by similar complaints revolving around inaccessibility.

Veteran Nollywood actor Emeka Ike recently voiced his concerns about managing funds allocated for the Nigerian film industry in an exclusive interview with PREMIUM TIMES. He specifically referenced the N3 billion fund announced during former President Jonathan’s administration.

Emeka criticised the lack of structures and unity in the industry, which he believes contributed to the poor distribution of the fund, calling for more robust governance to prevent similar issues in the future.

Accountable structures

Addressing this, Emeka emphasised that more vital, formal structures in the industry could prevent such occurrences.

“When the fund was introduced, people were not united, and no bylaws were in place. As a result, the money ended up in the hands of a few, who used it to buy cars, build homes in Lekki, and drive their Range Rovers. That’s not the purpose of the fund,” Emeka stated.

He explained how the lack of accountability affected the fund’s distribution. He argued that had the government engaged with industry associations like the Actors Guild of Nigeria (AGN) or the Theatre Arts Practitioners Association of Nigeria (TAMPAN), there could have been better oversight of how the funds were allocated.

“Moving forward, I would advise that if we have structures like AGN, NANTAP, ANTP, and AMP, the government should consider releasing such funds after establishing a relationship with the bodies representing us.

“Dealing with individuals like me or Uncle Bimbo Manuel alone is not enough. It should run through the industry with a template representing all of Nollywood,” Ike continued.

Hiatus

In the same interview, Emeka touched on his return to the big screen after a break, explaining that technological changes in film distribution, particularly the disappearance of DVDs, affected many established actors.

“Many of us who were not part of the cinema clique were sidelined due to various biases. But producers should know their target market. Many new actors don’t even reach the interior distribution channels, and their faces are not remembered as widely,” Emeka remarked, citing how some legendary actors like John Okafor and Genevieve Nnaji remain household names.

He also encouraged younger actors to embrace their individuality and work hard, saying, “They should try to embody their roles rather than imitating others. And they should attend auditions, network, and improve their talents.”

Looking to the Future

Though Emeka has reduced his onscreen appearances, he revealed plans to support Nollywood from behind the scenes.

He owns Nollywood TV on StarTimes and is working on launching a video-on-demand channel.

“Expect big things soon. We will make our movies and continue to support the industry from the rear,” he concluded, offering a hopeful glimpse into his upcoming projects.

As Nollywood continues to evolve, veterans like Emeka remain committed to the industry’s growth. However, with calls for stronger structures to manage future funds, it is clear that financial transparency and accountability will be vital to realising the full potential of the Nigerian film sector.