India, Nigeria Advance Economic Ties

In exemplifying her commitments to economic partnership with Nigeria, India is assisting Kano State to set up a film city as the booming movie industry will be celebrating its 20th anniversary next month.

The EXIM Bank of India, which has tasted success in financing Bollywood films, is advising its Nigerian counterpart, NEXIM, at the intricacies and nuances of film financing. EXIM India arranged a capacity-building training programme for NEXIM officials last year.

With the world's youngest and fastest-growing population, governments in Africa are facing pressure to provide jobs. The film city project is being established keeping in view the job creation potential of the Nigerian film industry and the need for a "fruitful export" for the country which is seeking to diversify its oil-dominated economy.