Nigerian cinema is experiencing a golden moment, with box office revenue surging by 120% in 2024, according to Dr. Husseini Shaibu, the Executive Director of the National Film and Video Censors Board (NFVCB).
Dr. Shaibu revealed the encouraging news during his keynote address at the 6th Annual Nollywood Creative Minds Forum (NCMF), which took place in Lekki, Lagos. Themed “In Pursuit of Better,” the event brought together filmmakers, industry stakeholders, and creatives to discuss the future of Nollywood.
Dr. Shaibu’s statement has brought hope to many within the industry. “This year alone saw a 120% surge in revenue at the box office, and an increase in ticket purchases,” he shared with a room full of industry professionals. His words were met with applause as the audience celebrated the positive shift.
Despite the broader economic challenges facing Nigeria, including inflation and rising commodity prices, Nollywood has shown remarkable resilience. The increased revenue suggests that more Nigerians are flocking to cinemas, signalling a strong recovery for the industry.
Dr. Shaibu acknowledged the difficult journey that Nollywood continues to face, but stressed that growth is within reach. “The road to excellence in Nollywood is turbulent,” he admitted, but he remains optimistic that the industry will continue to thrive if all stakeholders work together.
A Year of Encouraging Growth for Nollywood
The surge in cinema revenue is not an isolated event. Dr. Shaibu highlighted that Nollywood has seen impressive progress in recent years, pointing to significant increases in both the quality of productions and audience engagement. Global recognition of Nigerian films has also soared, with Nollywood increasingly embracing new technologies and innovative techniques.
The NFVCB boss also expressed his support for platforms like the Nollywood Creative Minds Forum, which he described as crucial for fostering partnerships and collaborations within the industry. “The forum has played a pivotal role in bringing together filmmakers and other stakeholders, creating an environment for discussion and solution-building,” he said.
This sense of collaboration is essential for Nollywood’s continued success. As the industry evolves, sharing knowledge and resources between professionals has become more important than ever. Dr. Shaibu believes that, in the pursuit of excellence, Nollywood must stay adaptable and open to new ideas.
NFVCB’s Commitment to Nollywood’s Growth
In his speech, Dr. Shaibu outlined several initiatives that the NFVCB is implementing to support Nigerian filmmakers. One of the key areas of focus is capacity-building. “We are committed to providing filmmakers with the support they need, including through workshops and training programs,” he noted.
The NFVCB also plans to establish a producers, exhibitors, and distributors lab, aiming to streamline access to funding and investment opportunities for filmmakers. “Our goal is to make it easier for stakeholders to access resources to build and expand the cinema infrastructure in Nigeria,” Dr. Shaibu explained.
He also emphasised that international partnerships would continue to be a priority. “We are working hard to facilitate collaborations with international partners, and I encourage everyone to take advantage of these opportunities,” he urged the forum attendees.
While these plans are ambitious, they reflect the broader vision that Dr. Shaibu has for Nollywood. By creating a supportive ecosystem for filmmakers and offering tangible resources, the NFVCB hopes to elevate Nigeria’s film industry to new heights.
The Future of Nollywood: A Call for Quality Storytelling
Looking ahead, Dr. Shaibu called for an increased focus on quality storytelling. “Authentic, engaging stories that reflect the diverse experiences of Nigerians are key to Nollywood’s success,” he said. For the industry to continue to grow, filmmakers must prioritise storytelling that resonates with audiences, both locally and internationally.
He also stressed the importance of professionalism in filmmaking. Adhering to industry standards, best practices, and ethical guidelines is vital for the continued credibility of Nollywood. “We must ensure that our films meet global standards, and that our filmmakers are committed to professionalism in all aspects of production,” Dr. Shaibu said.
These points were echoed by other speakers at the forum, who emphasised the need for collaboration, integrity, and a shared vision for the future of Nigerian cinema.
Nollywood’s Bright Future Amidst Global Recognition
The success of Nollywood films is not just limited to box office revenue. Dr. Shaibu also pointed out the growing influence of Nigerian filmmakers on the global stage. From film festivals to international streaming platforms, Nollywood’s reach is expanding.
This global recognition is encouraging many young filmmakers to pursue their passion for storytelling. The success of Nigerian films abroad, such as The Woman King and Shanty Town, has further elevated the profile of Nollywood on the international stage.
As the industry continues to grow, Nigerian cinema is becoming an essential part of the global entertainment landscape. With more films being produced, diverse stories being told, and greater collaboration taking place, Nollywood’s future looks brighter than ever.
