Nollywood jobs surged to 220,000 in 2023

The National Bureau of Statistic (NBS) reports that the Nigerian movie industry, also known as Nollywood, created over 200,000 jobs in 2023, from 40,000 direct jobs created in 2013, making it an average annual employment growth rate of 10 percent.

The figures reported in a 2024 study by Nnamdi Otuonye,  and Oshionebo Barth, PhD, indicates that the industry has become a vital source of livelihood for Nigerians across a wide spectrum of professions.

It also notes that 700,000 indirect jobs were created in film distribution and marketing, cinematography and equipment rental, sound and music production, costume and set design, catering and hospitality, transportation and logistics.

The industry occupied a bright spot in a sluggish labour market caused by the aftershocks of COVID 19 which wiped out an estimated 1.8 million full-time jobs last year, according to Doris Sasu, an analyst.

Economists attribute the surge to soaring demand for local content, the lower cost of digital production and a flurry of private investment. “Film has overtaken agriculture as the fastest growing employer per Naira invested,” Otuonye noted.

Also, as reported by PwC, the industry is the world’s second-largest film industry by volume surpassing Hollywood and trailing India’s Bollywood and generated an estimated annual revenue of $590 million, according to a 2018 report by PwC.

“The impact of Nollywood on job creation is undeniable,” said Dr. Ifeoma Okonkwo, a media economist. “It’s not just about the actors on screen. The industry supports a vast ecosystem from screenwriters and directors to editors, costume designers, and sound engineers.”

The ripple effect has led to the rise of film schools, rental services, and post-production studios, offering vocational training and employment opportunities particularly for Nigeria’s youth.

Read also: Nigeria’s creative economy: From vibes to value

Nurturing entrepreneurial ventures

“The industry has given young people a platform to learn, earn, and innovate,” said Chinedu Eze, a Lagos-based film producer. “Many of us started with nothing but a camera and a dream.”

The sector has also nurtured entrepreneurial ventures, with small and medium-sized enterprises (SMEs) springing up to provide services such as ticketing, distribution, and film export. These businesses have become critical nodes in Nollywood’s expanding value chain.

Read also: ‘Sustainable growth in creative economy requires international investment, both financially and structurally’

Policy and the path forward

The study by Otuonye and Oshionebo, adopts an economic framework to analyse how factors such as government policy, investment, and consumer demand have shaped employment trends in Nollywood.

It calls for targeted investment in education, vocational training, and infrastructure to unlock the industry’s full potential.

“Nollywood is more than entertainment, it’s an economic lifeline,” the report states. “With the right support, it can continue to drive job creation and economic resilience for years to come.”

Read also: Financing Nollywood’s global future

Nollywood also lauded as equal opportunity player

Beyond the numbers, the industry is lauded for being an equal opportunity employer.

Actresses, screenwriters and editors routinely occupy senior creative posts, shifting public perceptions in a society where boardrooms remain male dominated.

“Of roughly 2,000 films shot in the last two years, women directed or produced about 40 per cent,” Tope Oshin, a filmmaker said.

Nollywood has also become a conduit for soft power, exporting Yoruba, Igbo and Hausa folklore to streaming platforms worldwide. “Each premiere is a master class in cultural diplomacy,” admitted Dr Barth Oshione, communications lecturer.Structural threats

The sector’s potential is far from guaranteed as structural threats exists as piracy, shortage of formal film schools which leaves many crews self-taught and hurts production quality.

The other is the difficulty in accessing finance from commercial banks which regards film as high risk even as state funds remain cumbersome to access.

“We can’t rely on goodwill alone,” warned Oluwafemi Ogunkoya, industry analyst. “Without tougher anti-piracy laws, better studios and cheaper credit, the boom could fizzle.”

Despite its successes, Nollywood continues to grapple with persistent challenges. Rampant piracy, limited access to funding, and inadequate infrastructure threatens to stifle its growth.

While government initiatives such as anti-piracy legislation and financing schemes, have offered some relief, stakeholders argue that more robust support is needed.