Tuesday 1 July 2014

NIGERIAN ENTERTAINMENT INDUSTRY A COMMUNIQUE OF UNDERSTANDING BY THE STAKEHOLDERS FORUM.



1.    To make Nigerian entertainment and creative products a major source of foreign exchange earnings for the country, more emphasis should be placed on the quality, standard, credibility, integrity, packaging and pricing to make the products more appealing and have competitive edge.
2.    The issue of censorship, though necessary, should be tailored towards protection of Nigeria’s cultural values and integrity and classification of movies should be considered.
3.    To harness and maximize benefits from export of Nigerian entertainment products, the industry should be well structured to ensure adequate foreign exchange revenue generation.
4.    Advocacy by the stakeholders to the existing relevant legislation should be continually reviewed and amended where necessary to address emerging situations such as the issue of digital distribution and online piracy.

5.    In an effort to develop the services sector (entertainment industry inclusive) the government should come up with an incentive for service exporters.
6.    To ensure the formalization of the export of the services industry, conscious effort should be devoted to capture data and repatriate revenue.
7.    There is need for capacity building for the practitioners as well as building of the Nigerian entertainment brand for effective development and promotion of the industry.
8.    The relevant government agencies in the entertainment industry should partner and energize to develop the industry.
9.    The practitioners in the entertainment industry should develop linkages with partners in other countries as well as belong to international associations to enable them reap the benefit accruable to the industry.
10.    There is need to adopt global best practices in marketing and distribution of Nigerian creative work in the entertainment industry.
11.    Practitioners (distributors) should consider the use of Export Management Companies (EMC) who possesses the know-how for effective marketing regionally and globally.
12.    Since Nigerian films and music are globally available, they should be vehicle of highlighting our cultural values and build a positive image of the country hereby creating a platform for inflow of direct foreign investment  (DFI)
13.    Investors should be encouraged to build infrastructures which will make Nigerian films more competitive and export-attractive.
14.    To check piracy of Nigerian entertainment work, appropriate packaging, designated seals, and other security measures should be placed on exportable products.
15.    There should be a shift from making movies on VCD to DVD, blurry and higher formats in line with global best practices.
16.    Trade agreements e.g., the EPA between EU and Nigeria should include the services sector (to which the entertainment industry belongs) to ensure that maximum economic benefits are derived.
17.    The forum recommended the formation of a technical committee to chart a pathway for developing the entertainment industry for export (tackling issues of quality, content, marketing, distribution, funding etc.) with members from the relevant government agencies and representatives of the stakeholders with the Nigerian Export    Promotion Council    (NEPC) as the secretariat to come up with the modalities.



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