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.
Prominent Nollywood figure Prof. Onookome Okome was honored with a symposium on “Decolonization of African Cinema in the Age of Media Streaming” in Abuja on Wednesday. Prof. Na’Allah emphasized the industry’s economic advantages. He pointed out that Nigeria benefits financially from the multimillion dollar Nollywood business, which draws viewers from around the world.
“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.
In addition, Prof. Na’Allah emphasized the value of maintaining regional tongues rather than just English because they are essential to Nigeria’s cultural identity. Prof. Onookome Okome was honored during the ceremony for his groundbreaking work in Nollywood. Prof. Na’Allah gave Okome recognition for his contribution to the creation and global promotion of Nollywood. During his remarks, Prof. Okome showed his enthusiasm for popular culture and how it shapes Nigerian life. He admitted that Nigeria was being misrepresented by the West in different 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.
The huge economic and cultural potential of Nigeria’s film industry is highlighted by Prof. Rasheed Na’Allah’s plea for stronger government assistance for Nollywood. The government can generate jobs, unlock significant economic advantages, and strengthen Nigeria’s cultural influence globally by tackling the issues confronting Nollywood and putting strategic support measures in place.
The substantial economic and cultural potential of Nigeria’s film industry is shown by Prof. Rasheed Na’Allah’s demand for greater government assistance for Nollywood. Through the implementation of strategic assistance measures and the resolution of Nollywood’s issues, the government may generate significant economic advantages, job opportunities, and bolster Nigeria’s cultural influence globally.
