Who Says Nollywood Produces 1000 Movies and Makes US$1Billion Annually?

Who says Nollywood produces 1000 movies and makes US$1billion annually?
Where are the verified facts and figures from the National Film and Video Censors Board (NFVCB) and Federal Inland Revenue Service (FIRS)?

The fact is; currently, less than 500 Nollywood movies are produced and making less than US$500million annually.
Kannywood, the Hausa language film industry of northern Nigeria produces more movies than Nollywood of southern Nigeria.

Due to diminishing returns, the numbers of movies produced in Nollywood have reduced since 2008, because of widespread piracy on the street and internet and low patronage that left many producers and actors jobless and turning to other businesses to make ends meet. And many of the Nollywood movies flopped at the cinemas. The highest grossing Nollywood movie so far, "30 Days in Atlanta" made less than US$1million from the cinemas.

Nigeria is not among the top ten biggest film industries in the world.
See list on
http://www.talkingdrum-entertainment.com/top-10-biggest-film-countries-in-the-world-by-box-office-take-plus-south-africa-nigeria/

South Africa has the biggest film industry in Africa with highest grossing films, more than 870 standard screens and the Gateway Theatre of Shopping in Umhlanga, north of Durban, KwaZulu-Natal alone has more cinemas than the entire cinemas in Nigeria.
South Africa has more film and TV studios than Nigeria.
South Africa has an international film market and Nigeria has none.
South African films have made official selections at Cannes and other major international film festivals and won awards, but no Nigerian film has even made official competition at Cannes and Nigeria has never qualified for the Academy Awards, while South Africa has made the nominations and won the highly coveted Oscars with Charlize
Theron for her great role as serial killer "Aileen Wuornos" in "Monster" (2003) winning the Academy Award for Best Actress in 2004 and "Tsotsi" in the  Foreign Language category at the 78th Academy Awards in 2006.

It is important to be factual and rational in our ratings of Nollywood and not making spurious claims without facts.

~ By Ekenyerengozi Michael Chima, Publisher/Editor of the Nollywood Mirror series and other publications distributed by Amazon, Barnes & Noble, Tower Books and other booksellers worldwide.
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