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By the end of 2013, the film industry reportedly hit a record breaking revenue of ₦1.72 trillion (US$11 billion). As of 2014, the industry was worth ₦853.9 billion (US$5.1 billion) making it the third most valuable film industry in the world, behind the United States and India. It contributed about 1.4% to Nigeria's economy; this was ...
The Nigerian film industry is the largest in Africa in terms of volume, number of annual films, revenue and popularity. [9] [10] [11] It is also the second largest film producer in the world. [12] In 2016, Nigeria's film industry contributed 2.3% to its gross domestic product (GDP). [12] [13]
Furthermore, over the years, due to the high cost of film production in Nigeria, Nigerian filmmakers have been forced to make films outside Lagos in order to cut costs, mirroring the exodus of filmmaking in Hollywood from Los Angeles to cities like Toronto and Albuquerque, a phenomenon known as runaway production.
The functions of the Nigerian Film Corporation include: The production of films for domestic consumption and export; The establishment and maintenance of facilities for film production The encouragement of the production by Nigerians of films through financial and other forms of assistance The provision of facilities for training and archiving of film, sound and video materials, like the Shoot ...
Film as a medium first arrived Nigeria in the late 19th century, peephole viewing of motion picture devices. [1] These were soon replaced in the early 20th century with improved motion picture exhibition devices; the first set of films shown in Nigerian theatres were Western films, with the first film screened at Glover Memorial Hall in Lagos from 12 to 22 August 1903.
Nigeria's film industry became one of the biggest employers of labour in Nigeria, providing over a million jobs and contributing about 5% of the GDP. [5] At the peak of the video era at around 2008, the industry had become the second largest producer of films, [10] releasing approximately 200 video films monthly.
New Nigerian Cinema or New Nigerian Cinema era (also known as New Wave [1] [2] or controversially as New Nollywood [3] [4]) is an emerging phase in Nigerian cinema, in which there became a major shift in the method of film production, from the video format, which came about during the video boom, back to the cinema method, which constituted the films produced in the Golden era of Nigerian ...
The film was adapted to screen by Soyinka, produced by Francis Oladele under the Calpenny Nigeria ltd production company. [4] [17] However, Ola Balogun's post-Civil War film, Amadi (1975) was one of the first notable Nigerian historical films on celluloid, which reflected on the Nigerian pre-Civil War days when Nigerians were very united. [4]