Stories, Culture, And Talent Are Nigeria’s Biggest Assets

What’s this world without stories? What’s life without our ability to weave narrative threads through everything – great and small, significant and insignificant, extraordinary and mundane? The stories we tell ourselves and the stories we tell about ourselves are the vehicles that drive us, the ingredients that make existence flavourful, and the hands that mould how we think and feel about each other. Stories are what make us human.

It is through this lens that we must understand the impact and potential of Nigeria’s entertainment industry, from our films and even the comedy skits we watch online.In 1992, the term “Nollywood”, a portmanteau of “Nigeria” and “Hollywood”, appeared for the first time in a global publication. It was used in a headline by New York Times journalist Norimitsu Onishi while reporting about the rise of Nigeria’s filmmaking industry. Whether he was the first to use the term is subject to debate.

In 1992, Chris Obi Rapu brought the classic “Living in Bondage” to life via video home system , and this marked the birth of Nollywood as we now know it. The migration from cinema to television and then direct-to-home is why Nigeria could export her stories via film to the rest of the world. From producing films exclusively for a local audience, Nollywood began to ship its stories out to other parts of Africa and the world.

That said, Nigeria’s film industry has come a long way from Onishi’s estimation of its $45-million-size in 2002. Nigeria’s media and entertainment industry is one of the fastest-growing creative industries in the world, according to PwC’s Global Entertainment and Media Outlook for 2020-2024. The report also states that the industry has the potential to become Nigeria’s greatest export, contributing a projected annual growth rate of 8.6% and a compound annual growth rate of 19.

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