Nollywood is commonly refers to the cinema of Nigeria which has been very productive in recent years. The industry grew rapidly, mainly, in 1990s and 2000s and became one of the biggest film industries in the world. Surpassing Hollywood in terms of number of annual film productions, now, it is the second largest film producer after Bollywood.
The industry produced more films than both Hollywood and Bollywood in the last year. Between 1000-2000 films are produced annually with an annual turnover of nearly $250 billion. Today, Nigerian films like any other foreign films receive their world premiers in British before coming our on DVD.
Nigerian film industry has become the most preferred destination for most film producing companies spread across the world. The Nigerian government has allocated $200 million for the sector. Additionally, the World Bank to boost by giving $20 million. Currently, over one million Nigerians are employed by the industry.