- Creative Industry to get Pioneer Status
- This would enable qualification for tax holidays and waivers
- There is the need to stop the production of film and movie contents consumed in Nigeria, abroad
This should be good news to the Nigerian creative industry as the Federal Government has stated its current efforts in ensuring that the Creative Industry gets a pioneer status in order to qualify for tax waivers and holidays.
The FG said there is the need for the creative industry to obtain tax holidays in order to achieve waivers on film and music production equipment, among others.
Minister of Information and Culture, Lai Mohammed stated this during his weekend visit to the Copyright Society of Nigeria (COSON) in Lagos at the weekend.
Mohammed stated his reservations at the situation in which film and music production are made outside the country, stating that the FG is determined to ensure films and music consumed in Nigeria, MUST BE MADE IN NIGERIA.
He further said that, the provision of strong laws, infrastructure, protection of Intellectual Property and the enforcement of existing laws as some of the key areas where the FG can come in and intervene.
During the visit to COSON, the minister was accompanied on the visit by the heads of relevant parastatals in the Ministry, some of which were the Directors-General Yakubu Ibn Mohammed (NTA), Mansur Liman (FRCN), Folorunso Coker (NTDC) and the Executive Director of the Nigerian Film and Video Censors Board Adedayo Thomas.
While I would agree that there is good news with respect to granting tax holidays to the creative industry as this will help in procurement of equipment for creative production, I still have my reservation as to what will be the items that would exactly qualify for the pioneer status?
How efficient will the structure be for the qualification for the pioneer industry
I also have my reservations with respect to stopping the creative industry from shooting films and movies abroad. It would be near impossible for the FG to achieve that, don’t you think?
I await your comments and feedback as usual!