Key points
- NFC is calling for an insurance policy framework tailored to Nigeria’s film industry.
- The corporation says better risk protection will attract more investment into filmmaking.
- It wants insurance products designed for cast, crew, equipment and film productions.
- The initiative aims to strengthen the sustainability of Nigeria’s creative economy.
Main story
The Nigerian Film Corporation (NFC) has called for the development of a policy framework that would enable filmmakers, content creators and other creative professionals to benefit more effectively from insurance and risk management services.
Managing Director of the corporation, Ali Nuhu, said the Nigerian film industry had reached a stage where sustainable growth would require stronger financial protection and greater support from the insurance sector.
In a statement issued in Abuja, Nuhu said Nigeria’s film production ecosystem had been driven largely by talent, passion and resilience but now needed greater investment backed by effective risk management mechanisms.
He urged insurance companies to develop products specifically designed for the realities of film production, including coverage for cast, crew, equipment, production sets and filming locations.
According to him, the absence of adequate insurance protection has contributed to financial losses, disrupted business opportunities, stalled productions and job losses across the industry.
Nuhu said investors, development finance institutions, streaming platforms and international co-production partners increasingly consider risk protection measures before committing resources to film projects.
He also advocated the introduction of completion bonds to assure financiers that productions would be completed as planned, alongside errors and omissions insurance to address legal and distribution risks.
The NFC boss further called for affordable insurance products that would meet the needs of independent filmmakers and emerging creative professionals, saying the industry requires insurers that understand the unique demands of film production.
He added that a comprehensive insurance framework would encourage investment, protect businesses and jobs, strengthen industry guilds and associations, and support the long-term growth of Nigeria’s creative economy.
The issues
Despite Nollywood’s global recognition, many film productions still operate without adequate insurance, leaving filmmakers exposed to financial, legal and operational risks that can discourage investment.
What’s being said
“Management of risk remains one of the greatest concerns that sits at the very heart of building a sustainable creative economy.” — Ali Nuhu, Managing Director, Nigerian Film Corporation
What’s next
The NFC is seeking collaboration among insurers, regulators and industry stakeholders to develop specialised insurance products and a policy framework that supports Nigeria’s growing film and content creation industry.
Bottom line
The corporation believes stronger insurance and risk management structures are essential to attracting investment, protecting productions and ensuring the long-term sustainability of Nigeria’s creative economy.
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