Entertainment

LSFVCB: CIG wants Gov Sanwo-Olu to adopt levy initiative

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The Creative Industry Group (CIG) on Sunday urged Gov. Babajide Sanwo-Olu of Lagos State to adopt the State Film and Video Censors Board (LSFVCB) levy initiative.


The News Agency of Nigeria reports that the state government had recently played down a percentage levy on content registration announced by LSFVCB.

The CIG President, Mr Felix Duke, explained that the five per cent levy, being a surcharge for revenue collection service, was part of the measures to boost the industry.

Duke said the five per cent surcharge was not a physical payment on content owners as widely misunderstood, but a levy which would only be effected on gross profit made by content users.

Amb. Felix Duke, President of CIG.

He said in a statement that nobody was taxing the content owners, saying that it was LSFVCB that deduct its five per cent levy.

Duke said that the profit made through an online application, being midwifed by LSFVCB, was the reason behind the encouragement of registration of content by practitioners.

“Once the money generated from the registered content is collected by NIBSS, 70 per cent is sent to content owners.

“It is from the gain that the Lagos State Government, through LSFVCB, deducts its five per cent charge.

“We need to make it clear for better understanding that the body is not imposing any physical payment on content, production of films or any material as being speculated.

“The creative industry in Lagos State represents one of the largest and most visible segments of the informal economy in Nigeria and an enabling platform to function effectively,” he said.

According to him, majority of creative content are either physically or digitally distributed from Lagos, which is described as the hub of creative industry in Nigeria.

“Research indicated that 10 per cent of Nigerian creative content in circulation globally are physical, while 90 per cent are in the digital landscape.

“This indicates that they are not a local concern, but global and all these contents are sold, uploaded, downloaded and streamed from the city of Lagos, hub of entertainment in Africa.

“It is estimated that the entertainment and media revenues for Lagos will reach an estimate of seven billion U.S dollars in 2020, while all other states generate an estimated three billion U.S dollars annually.

“This represents one of the fastest growth rates in the world being why we are taking the advantage to key into its system with significant input by practitioners,” he said.

Duke added that funds from this initiative could be employed toward providing enabling infrastructure for the entertainment industry in the state to compete within global entertainment landscape.

He said that it would also assist in tracking usage and users of entertainment and creative content from the state on the global digital landscape.

“We are appealing to our listening and compassionate Gov. Babajide Sanwo-Olu to have a second look into the issue to enable the state to achieve this feat of transforming the creative industry,” he added.

Edited By: Josephine Obute/Olagoke Olatoye
Source: NAN

https://nnn.ng/lsfvcb-cig-wants-gov-sanwo-olu-to-adopt-levy-initiative/

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