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Nollywood is growing at startling rate

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nollywood actress Ibinabo Fiberisima
Nollywood actress and president of the Nigerian Actors Guild, Ibinano Fiberisima

Nigeria’s film industry – Nollywood, to fans of the genre – is flourishing with annual revenues of $590 million. According to the New York Times, the industry, currently commanding a strong local and international audience, has seen strong growth in the past few years. The sector currently employs over one million people.
‘One of the things that the industry has demonstrated is that, the opportunities are endless. We work with independent producers and those independent producers have to create stories and hire people to make those stories come to life, they need people behind the camera’s and in front of the camera’s, so the job opportunities are endless,’ said Biola Alabi, Director Special Projects at MNET Africa.
The movie industry in Nigeria is currently the largest employer after agriculture and experts believe that if the industry is managed properly it could generate an additional one million jobs. Sector players say that the film industry in Africa is not just an entertainment industry but also a money maker.
Africa’s film industry has recorded phenomenal growth in the last couple of years and now commands a strong local and international audience. In Nigeria, the sector generates an impressive $590million annually, says the New York Times.
‘Not only do we licence about 800 movies, there are other people that also licenced other movies, there are other platforms that are doing this, there are other people doing this, so for me, entrepreneurship actually should be synonymous with the media and Nollywood but really the film industry,’ Alabi noted.
The Nigerian film industry presently produces about 50 movies a week, and the World Bank is currently assisting the government to create more jobs in the sector.
‘A lot of what happens all over the world is job training. We need to develop more job trainings, we need to develop more internships, we need to pair them up with independent producers so they can get those skills. NYSC needs to work more with the producers so that we can partner with the students and they can get that experience early on,” she added.
Although the Nigerian economy is expected to grow by seven per cent this year, insufficient jobs for the growing population continues to remain a challenge for the authorities.

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