Like a sly jester winking at the moon, I was scrolling through social media when I encountered celebrity interviews recounting how they rake in millions within months a spectacle that ignited a contagious fervour among the youth, convincing them that the entertainment industry is the sole avenue to instant riches.
No one talks about the failures, the countless auditions, or the silent struggles behind the scenes, they only talk about just the glamour, the wealth, and the “soft life.”
Bollywood thrives on strategic government investment, making it a global economic force that boosts employment, tourism, and digital expansion. Unlike Nigeria’s self-funded entertainment sector, India injects billions into its film industry, ensuring sustained growth and international reach.
Beyond captivating audiences, it turns filming locations into major tourist attractions, also employs millions across various roles, operating as a well-structured economic engine that drives both cultural and financial influence.
Bollywood wields significant soft power, shaping international perceptions, fostering trade partnerships, and influencing policy discussions on a global scale. Now, the burning question is If India has done it, why can’t Nigeria?
President Bola Ahmed Tinubu and the Nigerian leadership stand on a promising foundation. Nollywood is already the second-largest film industry globally, built almost entirely on private effort. With champions like Kunle Afolayan, Femi Adebayo, Funke Akindele, and Toyin Abraham and others reshaping narratives and cashing in on global platforms like Netflix, prime video and Box office.
It is clear that Nollywood is not just an entertainment industry—it is an untapped goldmine. The cinematic feats of Kemi Adetiba, Mo Abudu, Bolanle Austen-Peters, etc prove that, with proper government investment, Nollywood could evolve from a privately managed giant into a fully empowered national asset.
According to research, Nollywood is currently generating over $590 million annually and producing around 2,500 films a year. Nollywood has managed to thrive despite a lack of properly structured federal support.
Imagine if this industry received the same kind of backing Bollywood enjoys. Federal investment—free from corruption—could elevate production quality, generate millions of jobs, and turn Nollywood into Nigeria’s foremost non-oil revenue, especially in this period that youth are yearning lack of unemployment being generic.
Content creation, beyond Nollywood, has emerged as a formidable economic engine in Nigeria, proving that digital storytelling is not just a fleeting trend but a viable sector capable of generating wealth, employment, and global recognition.
The success of creators like Mr. Macaroni, Taooma, Kiekie, Sabinus, Lasisi Elenu, Cute Abiola etc illustrates how social media has democratized entertainment, allowing individuals to carve niches without relying on traditional gatekeepers like film studios or record labels.
These creators, through comedy skits, social commentary, and brand endorsements, have transformed their craft into multi-million naira enterprises, employing scriptwriters, videographers, editors, and marketers while driving traffic to brands and tourism sites.
Their work showcases Nigeria’s culture and humor on the global stage, attracting foreign partnerships and sponsorships that would have otherwise been reserved for mainstream Nollywood productions.
When properly harnessed, digital content creation can become a major economic driver, much like Bollywood’s integration of influencers and digital expansion into film, tourism, and commerce. With the right policies—such as tax breaks, structured funding, and intellectual property protection—Nigeria’s content industry could grow into a leading non-oil revenue stream, competing with global giants like India and the United State.
Despite its promise, the content creation industry in Nigeria still grapples with fundamental challenges that could hinder its full potential. Unlike Bollywood, which benefits from government-backed investment and structured growth strategies, Nigerian content creators operate in a largely informal economy, where access to funding, infrastructure, and legal protections remains inadequate.
Some creators lack financial literacy, face inconsistent brand deals, and operate without a regulatory framework that protects their intellectual property.
Additionally, the absence of dedicated digital innovation hubs limits their ability to scale, collaborate, or transition from short-form content to full-length productions capable of breaking into mainstream cinema as some have done .
While some content creators have managed to bridge the gap between skit-making and brand influence, there remains an untapped market for leveraging content creation into mainstream entertainment and tourism.
The government and private investors need to recognise digital storytelling as more than just “youthful amusement” but as a serious industry that, when properly structured, could create thousands of jobs, foster digital entrepreneurship, and export Nigerian creativity worldwide.
If Nigeria is to truly harness the creative economy, it must institutionalize financial incentives, support digital film villages, and encourage content creators to transition into high-value productions that can contribute to global streaming platforms, film festivals, and international collaborations.
Only then can the country move beyond isolated success stories to a full-fledged, structured entertainment ecosystem that mirrors the impact of Bollywood on India’s economy.
States like Lagos, Kwara and some others have already positioned themselves as film hubs, investing in production studios, enabling policies, and film villages to attract investors. If these state-led initiatives can yield results, what would happen if Nigeria had a full-scale federal-backed Nollywood revolution?
With well-structured grants, tax breaks, and infrastructure development, Nollywood could rival Hollywood and Bollywood, expanding tech-based employment and transforming Nigeria into Africa’s entertainment capital.
Yet, a crucial caution must be heeded. Nollywood, like every thriving industry, has its fair share of pitfalls. The rise of viral sensations over genuine talent, the exploitation of controversies for social media relevance, and the blurred line between creativity and chaos all pose risks to the industry’s long-term sustainability.
Nigeria must ensure that Nollywood does not fall victim to the same cycle of corruption that crippled agriculture and the oil sector.
The truth remains: talent is different from cruise, and entertainment is bigger than scandal-driven fame. Nollywood has the potential to be a global force, a national pride, and an economic goldmine.
The question is: Will Nigeria seize this opportunity or let Negligence and corruption once again eat away at another billion-dollar industry?
Haroon Aremu Abiodun, an author, PRNigeria Fellow writes via [email protected].