eLDee The Don, Weird MC, Emeka Ike and Others React To The President’s $200 Million USD Loan

Reactions have followed the President’s loan to the entertainment sector.

Don’t cause inflation —eLDee, musician

I don’t really know how they intend to release money to an industry that doesn’t have a structure. How did they even come by the figure? Some statements are just ambiguous. But if it’s true, it’s a good thing. The problem will be how to share the money. If they can work out a way that a few greedy people will not sit on the money, that will work. You don’t just give stimulus to people without a structure. They should put a structure in place and then tell us what you want to be done with the money. Don’t just cause inflation.

List out modalities– Bond Emerewu, CONGA president

We are yet to understand the modalities for accessing the fund. Therefore I cannot make any official statement in connection with the pronouncement by Mr. President at the moment.

Actually, I’m aware of the announcement but we want to keep our fingers crossed as we watch development before coming out with a statement.

Soft loans is the way to go — Cally Ikpe

The president has good intentions no doubt but I can’t trust the implementation. They’ve not shown me any sign of seriousness.

They need to work hard and convince us this is not a fluke. I know he means well. The mechanics that will be employed so that this doesn’t turn into a national cake is what we await. I’ll suggest that the money should be deposited in the financial institutions and disbursed in terms of soft loans without stringent conditions. Integrity is also key. We should work on ourselves.

Only elected excos should appropriate the fund — Emeka Ike,

It’s a welcome development but only a democratically elected exectives can appropriate the fund. The said fund can only be useful to Nollywood when the crisis rocking the industry is resolved.

Actually, we welcome the gesture but the industry must be refocused and made to be crisis-free to enable us benefit from the fund.

It’s a blessing — Weird MC, artiste

I think for once that we should be positive. I think it’s a good thing for the industry. It’s a blessing. I just hope the money gets into the right hands especially the upcoming acts.

Hope it’s not a political statement— Alex Eyengho

It’s no doubt a boost to the entire Nigerian entertainment industry. However, As members of the Association of Core Nollywood Producers(ANCOP) we hope this is not a mere policy or political statement.

In terms of utilization, the Nigerian entertainment industry must first be properly defined. Nollywood’s share of the gesture should be put on hold and kept in an escrow yielding account until MOPICON is put in place.

For now, the fund should not be handed over to any individual or group of self-serving individuals in whatever names, masquerading as representative of the entire Nollywood practitioners.

What’s your take? We really want to know.