The Nigerian Film Corporation (NFC) has called for a comprehensive policy framework to expand insurance and risk management support for filmmakers, content creators and creative enterprises, arguing that stronger financial protection is essential to unlock investment and sustain growth in Africa’s largest film industry.
The corporation’s Managing Director, Dr. Ali Nuhu, made the appeal in a statement released on Friday in Abuja, Nigeria’s capital, urging insurance providers to develop products tailored to the unique needs of film production. He said the country’s creative sector could no longer rely solely on talent and passion if it is to compete effectively in an increasingly globalised entertainment market.
“Nigeria’s film production ecosystem is long overdue to be assisted to further grow through investments,” Nuhu said, stressing that risk management institutions, particularly insurance companies, must create services that directly address the realities of film production, content creation and professional creative practice.
Nigeria’s film industry, popularly known as Nollywood, is one of the world’s largest movie producers and a significant contributor to employment and cultural exports. However, industry stakeholders have long cited limited access to financing, inadequate risk protection and weak investment safeguards as barriers to sustainable growth.
Nuhu described risk management as a critical pillar of a viable creative economy, noting that the absence of safety nets across the production value chain has led to financial losses, disrupted business deals, job losses and abandoned projects.
“Film production in Nigeria has been driven by passion, talent and grit, and Nigerian storytellers have created magic with limited resources,” he said. “But passion alone is no longer enough.”
He warned that international streaming platforms, co-production partners and financiers are increasingly prioritising projects backed by robust insurance and risk-protection mechanisms, making such safeguards essential for attracting global investment.
The NFC chief advocated the development of specialised insurance products covering cast, crew, equipment, sets and filming locations, as well as completion bonds that guarantee project delivery to investors. He also highlighted the need for errors-and-omissions coverage to protect producers against legal and distribution-related risks.
According to Nuhu, affordable and accessible micro-insurance policies are particularly important for independent filmmakers and emerging content creators who often operate with limited budgets but face significant production risks.
He said Nigeria requires a framework that would normalise insurance coverage as a standard component of film production, helping stakeholders operate with greater confidence while protecting businesses, jobs and creative investments.
“The framework should be able to unlock investment, protect film businesses and jobs, support film practitioners, film industry guilds and associations, risk management providers, as well as regulatory institutions,” he said.
