Nigeria’s creative industry has recorded unprecedented growth, with box office revenues surpassing five billion naira as of September 2024. Renowned actor Patric Doyle made this announcement at the 7th Nigeria Diaspora Investment Summit (NDIS) in Abuja.
A statement signed by Abdur-Rahman Balogun, Head of Media, Public Relations and Protocols Unit, NiDCOM, on Wednesday said Mr. Doyle attributed this success to exceptional work by Nigerian actors, producers, and filmmakers. Nigerian films now account for 50.4% of box office revenue, surpassing foreign films. Panellists, including Idris Olorunnimbe, Ayo Animashaun, and Niyi Akinmolayan, emphasized the industry’s potential for diaspora investment.
Key Highlights:
- Afrobeats’ Success: $345m in streaming revenue across two platforms in 2023.
- Investment Opportunities: Infrastructure, skills, and talent development.
- Global Accessibility: Making Nigerian content accessible worldwide.
- Government Support: Calls for grants and development components.
Richard Mofe Damijo (RMD) stressed building trust between Nigerian and diaspora businesses for exponential growth. Foster Corder, a Hollywood Director, encouraged Nollywood producers to invest in marketing.
NDIS serves as a platform for diaspora investors to tap into Nigeria’s vibrant creative industry, driving economic growth and national development.
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