The enhanced production and content quality of Nigerian
films indicate the growing professionalism in Nollywood (the Nigerian movie
sector) with the industry making an average of N1.72 trillion in 2013 analysts
say.
In the last five years, the industry has been growing in
terms of quality. Little wonder it has been rated the third most valuable movie
industry in the world, behind Hollywood and Bollywood. The development has also
impacted on returns.
Just as it has ranked third globally in terms of quality of
production, it has grossed revenues that placed it third in the world.
Robert Orya, managing director, Nigerian Export-Import
Bank (NEXIM), says Nollywood ranks third globally in revenue. According to him,
the revenue the film industry has generated in the last three years is between
$300 million and $800 million.
