Entertainment companies and practitioners involved in content production within Lagos State will now have to pay the state government for each content produced and sold in Lagos. The state government is demanding the payment through a new policy to expand its revenue generation amidst the COVID-19 pandemic.
The audio and video content producers operating within Lagos will be charged 5% per content produced and sold. The government intends to track the companies through the Lagos State Film and Video Censors Board (LSFVCB) platform which all content producers have been mandated to register their contents within the next 30 days.
The new policy is expected to affect audio recordings, filmmakers, music video producers. It is however unclear if the policy will also affect short video makers or comedy skit makers - which has become the new wave in the entertainment industry in Nigeria.
While speaking about the new policy for audio and visual content producers, LSFVCB's Executive Secretary, Bamidele Balogun, said, “The board will advise practitioners involved in production, sale, distribution of audio and visual products to register their products through the board’s authorised agent within 30 days.
“Practitioners and stakeholders are also informed that henceforth, all audio and visual contents produced and sold within Lagos State shall attract the payment of five percent levy on each item." Balogun said, adding that, “This exercise will, however, assist the Lagos State Government in policy formulation, with regard to planning and funding for the sector,” he said.
Balogun stated that “All practitioners and stakeholders in the entertainment sector within the state are advised to comply with this directive and cooperate with the authorised agent of the board,” he said.