Nollywood Financing, Nigerian Art Take Centre Stage as Odujinrin & Adefulu Marks 54 Years.
The event, tagged ‘An Evening of Nigerian Art & Culture’, recently held at the firm’s Lagos office, brought together artists, creative industry professionals and other guests to celebrate Nigeria’s creative ecosystem.
A major highlight was a fireside chat with Zulumoke Oyibo, Co-founder and Chief Operating Officer of Inkblot Productions, who offered insights into the financing challenges confronting Nollywood and the opportunities emerging from the industry’s growth.
Oyibo explained that filmmakers often depend on family and friends to finance their productions, particularly because such investors tend to be more patient and willing to believe in the vision behind a project.
She, however, identified access to institutional financing as a major challenge, noting that commercial banks typically require collateral before extending loans to film producers. On managing investment risks, she advised filmmakers to diversify their investments across multiple productions rather than commit all available resources to a single project. She also emphasised the importance of working with partners who share a common vision. The discussion examined the possibility of using intellectual property as collateral to secure financing for film productions.
MSEApp News is publishing an original rewrite of this tip for readers, based on reporting associated with THISDAY.