Filmmakers cry that economic hardship is increasing cost of production

News Agency Of Nigeria

March 12, 2024 4:18 PM

President of the association says the cost of filmmaking has doubled due to Naira depreciation.

Filmmakers cry that economic hardship is increasing cost of production

The Association of Movie Practitioners (AMPRAC) has decried the rising cost of filmmaking amid the current economic situation in the country.

Ifeanyi Azodo, National President of AMPRAC, in a telephone interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos, said the cost of filmmaking had doubled due to Naira depreciation.

“As at a year ago, a film could be produced with as low as ₦4.5 million but now you’ll need as much as ₦10 million, and due to this development, producers no longer engage actors and all as much as before,” Azodo said.

According to him, movie practitioners are diversifying to other businesses that can guarantee sustenance.

“To be factual, the entire situation is worrisome and we are all losing interest in filmmaking.

“Actors who receive ₦400,000 as their fee for each film produced now charge as high as one million Naira. This development cuts across all movie genres – Igbo, Hausa and Yoruba.

“Producers, directors, set designers, cinematographers and everyone involved in the value chain of filmmaking are now looking into alternative route,” he stated.

Azodo called on President Bola Tinubu to expedite action in ensuring stability in the economy as part of solutions to the hardship.

“Government needs to come to our aid, we should be encouraged in ways that provisions should be made for filmmakers to gain easy access to soft loans.

“Corporate organisations should also come in. This is a money spinning industry that should be assisted to boost our economy,” Azodo added.

News Agency Of Nigeria