The governor of Edo State, Godwin Obaseki, has recently made a statement regarding the Nigerian movie industry, ‘Nollywood’
He boldly claimed that the country’s film industry, also known as Nollywood, can make more money for Nigeria than its oil reserves.
On Sunday, October 15, 2023, Governor Obaseki told filmmakers at a mixer in Lagos State, that the Nigerian film business might generate more money if stakeholders play their cards well and capitalize on clear chances.
The mixer on Sunday was planned in advance of the second Edo State International Film Festival (ESIFF), which will be held in Benin City from November 30 to December 2. 126 nations submitted more than 3,000 films, with Nigeria, Iran, India, the United States, and Brazil submitting the most.
Addressing filmmakers at a mixer in Lagos State, Governor Obaseki stated that the creative industry is the ideal vehicle for Nigeria’s goals of diversifying the economy.
The governor remarked that Nigeria is the largest market on a continent where the entertainment sector is expanding quickly on a global scale. He claimed that by structuring the sector properly, many producers might reap huge advantages and export content more effectively than is currently possible.
“If we go at this rate, with what is happening in the fossil fuel and hydrocarbon industry, the returns from film will be bigger than oil. Where does that money go to? Not to a few big companies but to hundreds and millions of participants in the industry,” Godwin Obaseki told journalists.
The government, according to Obaseki, has a crucial role to play in fostering the industry’s growth and assisting creators.