The inaugural edition of the “Customer breakfast meeting for the creative industry” themed “Supporting the creative economy – Issues and Perspectives” hosted by the bank of industry held on 26th of October, 2017 at Genesis Deluxe Cinemas, the Palms, Lekki, Lagos.
In attendance were the National Film and Video Censors Board, Nigerian Copyright Commission (NCC), Cinema representatives, Film makers, marketers and other practitioners in the creative industry.
The “Customer breakfast meeting for the creative industry” was organized to help the Bank of Industry (BOI) to learn how they can support the creative industry.
There were discussions by industry practitioners on business focused topics. The panelists included renowned actress Mrs. Joke Silva, Mr. Kunle Afolayan, producer of “The CEO”, Mr. Ope Ajayi of Genesis Deluxe Cinemas, popular musician Mr. Dapo “D’banj” Onabanjo, and Ms. Jade Osiberu, producer of “Isoken”, among others.

In his welcome address, Mr. Joseph Babatunde who is the General Manager, Large Enterprises Directorate, BOI, said that before the BOI began giving loans, it formed alliances with corporate bodies such as the British Council which helped conduct training tours in Lagos, Abuja and Benin. He noted that the creative industry stakeholders have been giving the BOI a good name worldwide and that out of the N7.6bn invested in the industry, 80-90% is performing well. He added that the idea of the event was to learn ideas on how to do better especially in content and film production,
BOI therefore encouraged producers to review their proposals and work with cooperate companies which have expertise in film distribution.

Mr. Asika asked how the cinemas keep independent filmmakers happy to which Mr. Ajayi answered that it is impossible to keep everyone happy as the cinemas also have to make money to pay back their own loans. He advised filmmakers to see the cinemas as distribution systems. He also advised that some movies will do better in different locations and don’t necessarily have to be released in every cinema in the country. Ms. Osiberu commented that her movie “Isoken”, was seen by only about a hundred thousand people, which she described as poor. She said that the cinemas can only target a particular section of people hence other opportunities for revenue need to be focused on such as, DVD, pay TV etc.
Mr. Osika noted that TV is the best option for distribution in Nigeria but that the main problem is that the market does not support content. He emphasized that TV would pay the most and that banks should put more pressure on the television industry and not the content producers.
Mr. Onabanjo insisted that more platforms be provided and that the BOI can partner with individuals to create such platforms. He asked that the BOI can also help fight for policies that make the cinemas show more of local content.
Ms. Rosanna Hart of Silverbird Film Distribution commented that most contents are created for adult audiences and none for young ones. She advised that BOI invests in platforms that target the younger generation.
Mr. Zik Zulu Okafor commented that there is an awful misconception amongst Nollywood producers that since BOI is a government institution, loans do not need to be paid back and advised the BOI to distinguish between loans and grants. He requested for a training to educate producers on financial literacy. Mr. Okafor called on BOI to train writers in the film industry, insisting that if film contents fail, everything fails.
Mr. Asika said that there are talented young Nigerian writers who are not interested in Nollywood but would need to be attracted in some way. He insisted that “creatives” need to respect each other. Mr. Okafor added that cinema scripts are different from regular scripts hence BOI should help Nollywood train writers. He said that for Nollywood to attract quality writers, it must be able to pay them accordingly and that things will remain as they are if contents continue to crash. He also advised that BOI gives some sort of grace period for funded movies to make their money. Mr. Onabanjo commented that foreign writers have a degrading impression of Nollywood which makes it very unattractive. Mr. Ajayi mentioned that a film cannot stay in the cinema if there is no demand as it costs money to keep it on display. He asked that filmmakers improve quality of content.
Mrs. Nwuka informed the attendants that applications for community cinemas are rolling in and some projects have begun. She also said that some Nigerian movies for children are being looked into.

Comments from the audience were welcomed.Mr. Francis who advised Nollywood to search intensely for content writers and that cottage cinemas can work with hard drives and do not need to depend on Digital Cinema Package (DCP).
Ms. Osiberu said that content writers are the weakest link in the film industry hence content needs to be desperately improved on. She said that exhibitors and distributors also produce movies causing them to give more time to their productions than those from individual producers and called on regulatory bodies to do something about it.
Another comm enter mentioned that scripting is a mechanical process as it is told with pictures but that there is a shortage of good scripts in Nigeria. He also informed the cinema representatives that original equipment for DCP are manufactured and sold in China at cheaper rates.