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Nollywood generates 200 million dollars

Posted by Vanguard on 2005/10/08 | Views: 831 |

Nollywood generates 200 million dollars

The Nigerian movie industry has generated over 200 million dollars in international sales between 1992 and early 2005.

Abuja — The Nigerian movie industry has generated over 200 million dollars in international sales between 1992 and early 2005.

This was disclosed in Abuja by the Director-General of the Nigerian Copyright Commission (NCC), Mr Adebambo Adewopo, at the Joint Motion Picture Industry Charter forum.

According to Adewopo, recent findings showed that the marketing potentials for Nigerian movies in diaspora is far higher than its market at home.
“Nigerian movies provides a unique alternative to Western movies, especially among the African American population.

“Judging from these statistics, expectations, therefore will be that the industry should make significant contribution to the economy,” he said.
Adewopo noted that the industry, which is the third largest in the world, was being faced with piracy as nine of every 10 CDs, VCDs, and DVDs circulating in the country were pirated.

He said these negative trends in the industry was militating against its growth as the nation lost more than N100 million annually to piracy.
The director-general said that such “money could have been invested in the economy in remuneration to rights owners”.
He, however, expressed government’s commitment to the protection of intellectual property, noting that the Strategic Action Against Piracy (STRAP) programme launched in May was to ensure the growth of a legitimate entertainment industry.

Adewopo said the forum, jointly organised by NCC, National Broadcasting Commission (NBC) National film and Video Censors Board (NFVCB), and the Nigerian Film Corporation (NFC) would channel a way forward for the industry, which was being repositioned to greater heights.

have collectively developed what we call a service charter which spells out our shared role, responsibility and vision for the motion picture industry,” he said.
Also speaking, Information Minister Frank Nweke Jnr, who was represented by Mr Calistus Alabi said that for the industry to grow, it needed government’s intervention.

He said the industry would be a major revenue earner for the country if its potentials were harnessed and pledged the ministry’s commitment to the growth of the industry. The News Agency of Nigeria (NAN) reports that the joint forum was the first synergy by stakeholders in the industry.

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Comments (3)

Okfold(Sobe, Edo, Nigeria)says...

I want the meaning of female owan name Ekeke (Edo state)

Toluwalase Samuel Olufemi(Ijebu, Ogun, Nigeria)says...

Authority belongs to God, once He decrees it is final and binding

Ikponmwosa Osamede(Edo, Nigeria)says...

Your meaning of Osamede is wrong. Osamede means God has given me a crown