In an update published by The Guardian, Nigeria’s cinema industry has recorded a massive N14.52 billion in revenue, with Lagos State contributing the lion’s share of the earnings. The growth is attributed to a surge in high-quality indigenous productions and an increase in the number of modern multiplexes across major urban centers.
Industry analysts point out that despite the broader economic challenges, Nigerians’ appetite for cinema remains strong, particularly for Nollywood blockbusters that have begun to compete favorably with Hollywood imports. The report suggests that the “Creative Economy” is becoming a vital pillar for job creation among the youth in the Southwest region.
Daily Post supported the story, stating that “investment in the creative sector is paying off as Lagos becomes the hub of African cinema.”
Premium Times also reported on the industry’s success, quoting a cinema owner: “The N14.5 billion figure is just the beginning; as we expand into more states, the revenue potential is limitless.”
Vanguard noted, “Nollywood’s evolution into a high-revenue industry is a testament to the resilience of Nigerian creatives.”
Echotitbits take:
The entertainment sector is proving to be “recession-proof” in Nigeria. With Lagos leading the charge, there is a clear opportunity for other states to replicate this model by investing in creative hubs. Watch for more private equity firms entering the Nigerian film distribution space throughout 2026.
Source: The Guardian – https://guardian.ng/news/nigerias-cinema-records-n2-25bn-revenue-in-q1-2024/, February 20, 2026
Photo credit: The Guardian
