Ugboma Advocates Equity for Movie Fund Raising

One of the foremost movie makers in Nollywood, Chief Eddie Ogboma, has urged producers to adopt the equity method of fund raising in order to rescue the film industry. He said this while discussing his upcoming film titled TREASON.

Going further, he says: “I have been doing my best to convince and advice Prof Akunyili to make sure this film fund is launched. As fund is getting hard to raise, we the film makers must raise funds by equity. In my forthcoming film, I am raising equity, which my bank and I will be selling to buyers, offering them 25% of their Naira investments, and 5% of the foreign earning on the film.

 Chief Ugboma added that actors will be given shares in the film, which will be part of their fees and when these investments are put together, he will raise the N30 million needed for the film. “With the meltdown affecting everything, home video producers need to join forces; directors too will need to invest their fees. Good studios like Philip Trimnel’s and Steve Ojo’s equipment will also be invested. By the time we go to location cash won’t be our problem,” he said.

To guarantee the sales in Africa, Europe and America, the producer explained that the film will be censored and registered with these countries’ copyright establishments and distributors willing to premiere the film will pay upfront. “The biggest problem is that it must be a good script and have good technical input, props, and professional expertise. The cast in this film will have French, American and other African actors, as well some Nigerian stars and new brilliant faces. We will also be using experienced Hollywood crew to join ours here, so that the mixture will yield a good and acceptable movie,” he noted.