The Federal Nigerian government has announced that it will start granting tax breaks to movie producers and others in the creative industry.
This is being done to help transform the creative industry.
“This is a shot in the arm for the Creative Industry and it will definitely catalyse investments in the industry. It is also the answer to our quest to spur the establishment of world class studios in Nigeria for production and post-production of movies and music videos,” said the Minister of Information and Culture, Lai Mohammed.
The tax break that is being granted will cover music production, publishing, and distribution; photography, production and post-production of digital content for motion pictures, videos, television programmes, commercials, distribution and exhibition, publishing of copyrighted books and developing and publishing of ready made software.