Barr. Ndukwe Obuba Ndukwe, LLB (Hons.) BL, FIMCA CBA
The President/Chief Executive’s brief
I am pleased at this point in time to welcome you into our strategic plan for the development of a Nollywood Film infrastructure. Despite the acknowledged fact of the Nigerian economy technically slipped into recession, there is the urgent need to diversify owing to dwindling price of crude in the international market, as such it is imperative to note that the Compound Annual Growth Rate (CAGR) of the media and entertainment industry shall increase significantly in nominal terms, thereby offering a very good window for diversification. According to the PwC Global Entertainment and Media Outlook 2016-2020, The total worldwide revenues in the industry will rise from $1.72 Trillion in 2015 to $2.14 Trillion by 2020. Nigeria, being one of the most populous entertainment and media markets is ranked along with countries like India, Brazil and Pakistan that will contribute significantly to the growth rate. The Nigerian market with the indefatigable ‘Nollywood’ has unique growth dynamics and opportunities shaped by local factors ranging from demographics to business models. In fact according to the PwC report, the only sector showing some promise in economically battered Venezuela (which is likened to Nigeria’s mono revenue based economy) is the entertainment and media industry which is likely going to outpace GDP growth by more than 14% in 2016. Therefore the content of this Business Plan is a well thought-out strategy to significantly key into the industry on the basis of a composite integration of many sub-sectors. It has been our plan over the years to integrate education/capacity building (technical + content tourism development, agriculture, real estate (film production infrastructure/housing) and lifestyle/on-line purchase/reservation system, thereby providing the necessary framework for engagement as a sector specialist in empowerment, poverty alleviation and Micro, Small and Medium Enterprises Fund/Credit Guarantee Administration. The journey started with the incorporation of Nollywood Film City and Palm Resorts Ltd to bridge the capacity gap. We conceived the idea of fulfilling the prerequisite of landholding through a real estate venture conceived as NOLLYWOOD FILM CITY AND PALM RESORTS LTD to house the first real estate infrastructure for the movie industry in Nigeria with a project development plan of 36 Months for the flagship estate in Owerri Imo State. The project is conceived on a Five Star-Five Cities theme, that is running the real estate development on a five cities initiative i.e. Owerri as the first then replicating it in Lagos, Asaba, Abuja and Kano. These five cities have been identified as the main film production concurs in Nigeria. We also plan to integrate the investment with internet media presence hence the idea to simultaneously commence the real estate venture with a lifestyle discount/payment card system.Thank you.
NOLLYWOOD FILM CITY AND PALM RESORTS LTD
NOLLYWOOD FILM CITY AND PALM RESORTS LTD has been registered as a wholly Nigerian owned company incorporated in 2015 as a Special Purpose Vehicle to actualize the multipurpose of real estate, agro business, tourism development, capacity building, and education as planned. The company's other primary activities shall include online discount/shopping/lifestyle card solution, events/film promotion and marketing. NOLLYWOOD FILM CITY AND PALM RESORTS LTD has been set up with the obvious intention as a multipurpose business with the unique proposition of setting up an online store, produce and market a Lifestyle Card called the NollyShop.Com™. The idea behind the card is to provide customers with a platform for accruing benefits to themselves every time they shop with the card including discounts from shops, credit-line purchase for confirmed income earners, optional membership to a cooperative union- Nollywood Film Production and Marketing Cooperative Union, entertainment events/film promotion and ticket sales The card is planned to be an alternative means of cash payment in an ever increasing cashless economy principally focused on ‘Nollywood’. The NollyShop.Com™ works basically like loyalty cards but is not tied exclusively to a singular merchant store or a group of companies like the Tesco reward card in the UK. We have instead solicited partnership from a wide variety of merchants that will offer us exclusive discounts on selected products. In return, we will provide them access to a pool of customers and advertise specialty goods including near-expiry products. We shall sign a memorandum of understanding (MOU) with a Nigerian Bank to partner with us in producing the cards and furnishing our respective merchants with point of sale (POS) terminals to maximize their operations with our subscribed card users. We are willing to provide our financial partners and/or investors with either the option of guaranteed returns on their investment, a profit sharing protocol, interest on the amount invested (with their investment operating like an loan), a fixed return per annum for a specified period of time or full partnership to co-own the entire business; thus owning up to 49% of the company. Therefore with whatever structure we would fully maximize the utilization of our unique brand name thereby generating healthy profits for investors.