The Association of Movie Practitioners (AMPRAC) has decried the rising cost of filmmaking amid the current economic situation in the country.
Mr Ifeanyi Azodo, AMPRAC national president, said in an interview on Tuesday in Lagos that the cost of filmmaking had doubled due to naira depreciation.
“As at a year ago, a film could be produced with as low as N4.5 million but now you’ll need as much as N10 million, and due to this development, producers no longer engage actors and all as much as before,” Mr 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 N400,000 as their fee for each film produced now charge as high as N1 million. 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 routes,” he said.
Mr Azodo called on President Bola Tinubu to expedite action to ensure economic stability as part of the solution 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.
“ President Bola Tinubushould also come in. This is a money-spinning industry that should be assisted in boosting our economy,” Mr Azodo said.
