If there’s one thing that’s thriving in Nigeria, it’s undoubtedly the entertainment industry. And within this booming sector, Nollywood reigns supreme, standing tall as the third-largest film producer in the world. That’s right, Nollywood is the king of Africa’s entertainment, and it’s no surprise considering how quickly it has grown. This industry, which was once seen as a small player, has now become a global force, and it’s showing no signs of slowing down.
Box Office Milestone: Nollywood Hits 1 Billion Naira in One Week
A significant milestone was achieved recently when Nollywood’s box office crossed the 1 billion Naira mark in just one week, from December 20-26. This remarkable achievement was reported by Nile Entertainment, and it marks a new high in the history of Nigerian cinema. December 26 saw the highest-grossing day ever, with Nollywood raking in 256 million Naira. This is no small feat, as it is the first time the Nigerian box office has crossed the 200 million Naira threshold in a single day. Over 47,500 tickets were sold on Boxing Day, making it the third-highest ticket sales day in Nollywood’s history. This is proof that Nigerian films are not only being watched but are now taking over the market.
Funke Akindele: The Queen of the Box Office
Of course, no conversation about Nollywood’s success is complete without mentioning Funke Akindele, the undisputed Queen of the Nigerian Box Office. Her movie Everybody Loves Jenifa has set a new record, grossing a whopping 100 million Naira in a single day at the Nigerian box office. This breaks the previous record of 89.8 million Naira, and the movie is still raking in the cash, with a total of 783 million Naira and counting. Akindele’s reign as the queen of Nollywood box office is undeniable.
Nollywood’s Record-Breaking Box Office Growth
Looking at the historical growth of Nollywood, the numbers speak for themselves. In December 21-28, 2018, the box office hit 368.4 million Naira. By December 20-26 in 2019, it reached 316.2 million Naira. In 2020, the box office grossed 302.4 million Naira between December 25-31. The growth continued, with 502.9 million Naira in December 2021 and 526.7 million Naira in 2022. By December 22-28, 2023, the box office had surged to 804.3 million Naira. And now, in December 20-26, 2024, Nollywood has shattered expectations with a record-breaking 1.02 billion Naira. Is that not a mark of undeniable success?
The Promising Future of Nollywood: A Bright Horizon
According to Ope Ajayi, President of the Cinema Exhibitors Association of Nigeria, the growth is not just about revenue; it’s also about admissions. Last year, the total revenue stood at N7.24 billion, and by October of this year, that figure had already been surpassed. In 2024, Nollywood has had at least one film grossing over 100 million Naira each month, setting a strong pace for the industry. With this upward trajectory, Nollywood is on track to meet its revenue target of between N11 and N12 billion by the end of the year. This spells good news for the future of Nigerian cinema, and the industry’s outlook has never been brighter.
Nollywood’s Record-Breaking December: A Story of Success and Struggles
As the year draws to a close, Nollywood is breaking records left and right. Toyin Abraham’s Alakada Bad and Bougee grossed 134 million Naira in just one week, adding to the impressive string of successes. However, despite these incredible achievements, there’s a dark side to this success story. With a population of over 230 million, Nigeria has fewer than 60 functional film houses in the country. This is a glaring issue that needs urgent attention. In a country with such a large population and an increasingly successful film industry, can we afford to ignore the importance of investing in Nollywood?
The Need for Government Support: Nollywood’s Call to Action
At this point, it is high time that the government stepped up to support Nollywood. The industry has proven its potential, and its rise has been nothing short of sporadic. But to continue this upward trajectory, Nollywood needs more than just recognition, it needs investment. If we are to remain the giant of Africa, we must ensure that our film industry gets the support it deserves.
There is no denying that Nollywood has made us proud, but to truly cement its place on the global stage, we need the government’s help to address the infrastructure gaps and ensure the industry can continue to grow.
Nollywood is breaking records, making history, and setting new standards. It’s time to give this industry the backing it needs to reach even greater heights.
