The development of Nigeria's Creative Industry, as a core component of the Transformation Agenda, is one of the factors that has prompted the recent intervention fund made available to the Nigerian Film Industry ("Nollywood"). In March 2013, President Goodluck Ebele Jonathan announced a N3 billion intervention fund/grant scheme dedicated to addressing some of the challenges currently facing this industry. Nollywood is one of the largest film industries in the world and has the potential to be a major contributor to economic development. The program will support key components along the industry's value chain with the objective to harness the growth of the industry.