The appellation ‘Nollywood’ has been adopted as the official title of Nigeria’s home video business. With the production of over fifty movie titles per week, the industry is fast commanding global attention, and is being seen as a great cultural contribution to the international community. The ‘Nigerian Phenomenon’, as Nollywood is sometimes called, is believed to be the third biggest film industry in the world. Analysts say it is worth over £80 million annually.
Read more here.