Noolywood Industry Development in Nigeria: Challenges and Prospects

Abstract

This paper on Nollywood industry development examines the Nigerian home video to highlight its challenges and prospects. The Nigerian economy has received a tremendous boost due to the activities of home videos, whose contribution is 2.3% of Nigeria's GDP. Even at that, Nigerian film-makers and the government cannot rest on their laurels and synergise to execute relevant steps towards advancing the Nigerian home video brand (aka) Nollywood. The study utilised a desktop research design using secondary data within the Development Media Theory. It was discovered that factors like lack of distribution network, inadequate funding, and piracy are the major threats to the Nollywood industry's development, even though prospects abound. Based on the strength of these findings and others, the paper recommends the collective society of film and video works to be administered by work owners and with the support of the Nigerian Film and Television Corporation (NFC) marked unions, producers, and other stakeholders working together to fight and curb the activities of pirates.