Lagos presents cheques for interest free loans to filmmakers

Lagos State Governor, Babajide Sanwo-Olu, has presented cheques to 39 film-makers, who are beneficiaries of special interest-free loans being managed by the Lagos State Creative Initiative (LACI), under the Ministry of Tourism, Arts and Culture.

The scheme is part of the state government’s initiative to support the creative ideas of movie and entertainment producers, who are constrained by funds to bring their concepts into reality.

Governor Sanwo-Olu, who was represented by the Lagos State Commissioner for Tourism, Arts and Culture, Mrs Uzamat Akinbile-Yussuf, had at a ceremony held at Glover Memorial Hall, Lagos Island, disclosed that a 9-man committee comprising Veteran film makers and some senior Government officials headed by the Commissioner was set up last year to identify struggling filmmakers that could be empowered with grants and seed fund for film production purposes.

Sanwo-Olu said that the aim of the initiative is to address financial challenges that inhibit quality film production in Lagos and Nigeria.

He said, “This initiative and presentation of cheques being done today is a testament to our commitment to ensure the potentials of the entertainment industry are realised.

“I congratulate the beneficiaries who are receiving their cheques today. I am convinced that your proposals and plans must have been really compelling and convincing to earn the approval of the Committee.’’

The governor urged the beneficiaries to make judicious use of the loans and pay them back within the stipulated time to enable others to access the fund.


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