Nollywood Can Boost Nigeria’s Economy – UniAbuja VC

• Vice Chancellor Prof. Na’Allah urged government support for Nollywood, highlighting its potential to significantly boost Nigeria’s economy
• Prof. Na’Allah emphasized that Nollywood generates foreign reserves and substantial revenue through global platforms like Netflix

The Vice Chancellor of the University of Abuja (UniAbuja), Prof. Rasheed Na’Allah, has emphasized the need for government support for Nollywood, highlighting its potential to enhance Nigeria’s economy significantly.

During a conference on “Decolonisation of African Cinema in the Age of Media Streaming” in Abuja on Wednesday, held in honour of Nollywood pioneer Prof. Onookome Okome, Prof. Na’Allah underscored the economic benefits of the film industry. He noted that Nollywood, a multi-million-dollar industry, attracts global viewership, creating wealth for Nigeria.

“Our movies, music, cultural dances, and languages are captivating audiences worldwide, generating foreign reserves and substantial revenue for Nigeria,” said Prof. Na’Allah. He pointed out that platforms like Netflix showcase Nigerian films globally, bringing in significant income.

He urged the government to increase its support for Nollywood so that it can fully realize its potential in transforming the nation’s economic landscape.

Prof. Na’Allah also stressed the importance of preserving local languages, which are integral to Nigeria’s cultural identity, rather than relying solely on English.

The event honoured Prof. Onookome Okome for his pioneering contributions to Nollywood. Prof. Na’Allah praised Okome for his role in establishing and promoting Nollywood internationally.

Prof. Okome, in his remarks, expressed his passion for popular culture and its influence on Nigerian life. He acknowledged the Western misrepresentation of Nigeria in various media.

“Remember, around 2010, Nollywood contributed about four percent to Nigeria’s GDP, which is remarkable. However, the rise of streaming has reduced returns for filmmakers, which is a key focus of this conference,” he said. Prof. Okome highlighted the challenges posed by streaming services, which offer limited financial benefits to filmmakers.