Nollywood: $14.8 billion industry crossing over the Atlantic
- Caro Sika
- Jul 28
- 3 min read
In just 30 years since its inception, Nollywood is now confidently expanding across the Atlantic, reaching a global diasporic cinematic landscape and delivering authentic, grand stories to audiences worldwide!
Nollywood, Nigeria's film industry, emerged in the 1990s as a formidable force, utilizing affordable video technology to cultivate a vibrant cinematic landscape. It draws deeply from Nigeria's rich storytelling tradition and cultural narratives, focusing on relatable and meaningful stories that resonate profoundly with both local and global African audiences. For three decades, Nollywood's growth has been propelled by a strong African demand for genuine African narratives, with films often exploring themes of social issues, family dynamics, and the complexities of Nigerian life.
In just 30 years, Nollywood has developed a pool of talented and seasoned actors, actresses, screenwriters, film directors, production executives, and financial resources. Nollywood is now making waves across the Atlantic, reclaiming the African historical narrative with the release of feature films such as "Ireke: Rise of the Maroons" by director Gbolahan Peter Macjob.
Epic movie "Ireke: Rise of the Maroons," released simultaneously in the UK and Nigeria couple of days ago, builds a bridge with the Caribbean, retelling the story of African resistance from slavery through the lens of the Maroons—Africans forced into slavery and taken to Jamaica, who rebelled and escaped to the mountains. In a recent TV interview on Nigerian National News, Gbolahan Peter Macjob shared how the story of "Ireke" came to be. He explained, "I ran into the story of the [...] descendants of the Maroons living in Jamaica pouring libation, greeting each other [...] in Yoruba, and I was just intrigued that a group of Jamaicans were still keeping their African ancestry, so that attracted me very quickly." See the full interview below.
This type of historical crossover marks a significant milestone. A decade earlier, in 2016, with films like "A Trip to Jamaica," a Nollywood romantic comedy and action movie starring Ayo Makun (Akpos) and Funke Akindele (Bola), aspects of Jamaican culture and patois were highlighted. Akpos and Bola also both ended up falling for Jamaican nationals and decided to call off their wedding plans after an eventful and dangerous trip. At that time, the interest in reaching a wider audience, especially within the diaspora, was palpable, but the narratives weren't as bold, incorporating history and legacy.
Nollywood, Nigeria's film industry, with a $6.4 billion revenue in 2023, is already set to double and reach an impressive $14.8 billion by the end of 2025, according to AInvest. In a May 2025 article, journalist Julian West called out investors to seize this golden opportunity and stated,"The Nigerian film industry, Nollywood, is no longer just a cultural phenomenon—it’s an economic powerhouse. With its storytelling prowess capturing global audiences and government policies unlocking infrastructure potential, now is the time to position investments in this rising sector."
With bigger and bolder stories, Nollywood is soaring to limitless heights, poised to become a powerful engine that levels the playing field and empowers more filmmakers of African descent to tell global African stories from an authentic perspective. Although there remains a significant gap with Hollywood generating over $169 billion per year, it's important to note that Hollywood is 115 years old. Yet, in just over a quarter of a century, Nollywood is already generating nearly 10% of Hollywood's revenue and considered the second largest film industry in output after Bollywood. Considering Nigeria's burgeoning population of over 232 million people who cherish storytelling and entertainment, the potential is vast. If Nollywood succeeds in including the diaspora in its storytelling, accounting for over 8 billion people worldwide (according to World Population Review), the future of Black films definitely is Naija!
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