The objective of Project ACT-Nollywood is to encourage the sustained growth of Nigeria's movie industry so that it realizes its full potential to be a significant creator of employment and considerable contributor to national GDP by addressing some of the challenges currently facing the industry.
The program aims to improve and promote key components of the movie value chain through the provision of grants schemes designed to support existing or aspiring practitioners within the industry, including in the diaspora. The focus of the program is to reduce the hurdle for private sector capital to participate by initially sharing some of the project risk that would take projects from "almost commercial" to fully commercially viable and thus accelerate the industry's development onto a path of full monetization/ sustainability.
Project ACT-Nollywood has a budget of N3 billion and is made of three components aimed at addressing inhibitors to further growth, which exist along the movie-making value chain. These include technical Capacity Building, Film Production, and Distribution.
Funds can be applied for by Nigerian filmmakers (in Nigeria and the diaspora) and by Nigeria-based production companies for projects to be executed in Nigeria. International co-productions are encouraged.
Project ACT-Nollywood is managed by the Federal Ministry of Finance and the Ministry of Culture and Tourism in collaboration with other government agencies.