Nigerian Creative and Entertainment Industry Loan Scheme

The Creative arts & Entertainment Industry Facility introduced by the Nigerian Export-Import Bank is designed to achieve the following strategic objectives:

• Harnessing Nigerian cultural diversity and talents in a structured manner to ensure the orderly growth and development and the conservation of the nation's cultural heritage;
• Enhancing the abilities of players in the entertainment sector to collectively benefit from Government support programme for the industry;
• Improving quality at all stages of the value chain from production to post-production and retail distribution, thereby deepening creative entertainment value chain and diversifying revenue streams in the industry;
• Promoting the creation of a viable and sustainable industry, thereby enhancing employment generation and wealth creation potentials of the sector and performance of small and growing businesses in the country;
• Broadening Nigerian export basket through formal and non-traditional exports of Intellectual Property products and services;
• Attracting investment capital to the industry towards the development of modern studios and/or broadcast/media facilities.

a) Company

Any Company in Nigeria can benefit from the facility provided that:

• It is legally registered/incorporated in Nigeria;
• It operates in the entertainment and creative industry;
• It is not owned by government (federal, State or local);
• It is not an oligarch business interest that may interfere with content policy for its own interests.

b) Industry Value Chains

Funding under this facility covers all segments of the creative arts/entertainment industry and across the value chains of the following activities:

• Music (Production & Distribution)
• Film (Production, Distribution, Exhibition)
• Television (Production, Distribution, Exhibition)
• Radio (Production & Distribution)
• Fashion (Production, Distribution, Exhibition)
• Distribution/Exhibition Infrastructure and Platforms
• Development of production platforms and facilities
• Acquisition of hi-tech production equipment and ancillary facilities

Up to 7 years, inclusive of a moratorium period depending on transaction/activity.

The documentation requirement under the facility shall have basic loan facility documentation comprising some of the underlisted as may be appropriate:

• Letter of Application;
• Company Incorporation Documents;
• Feasibility Report/Business Plan;
• Valuation Report on proposed collateral Intellectual Property;
• Audited Financial Statements for the last three years and the most recent management accounts;
• Evidence of marketing/distribution arrangements;
• Pro-forma Invoice(s), where applicable;
• Bills of Quantity/Production Budget, where applicable.