NOLLYWOOD NETS 42.2 BILLION NAIRA
Information
and Communications Minister, in Nigeria, John Odey, says
Nollywood, has a net worth of fifty-two point two billion naira,
that is about four hundred and fifty million dollars.
Odey, who opened the 2008 Zuma
Film Festival with the theme “films Without Borders” said the
'industry came out of nothing' to emerge the third largest
content provider in the world, behind Bollywood and Hollywood.
He said this was to underscore
the point that no matter the state of the country's economy,
``Nigerians have what it takes to salvage any situation with
their creative ingenuity''.
Odey said that government would
continue to assist the film industry which has created
employment opportunities for the youths so that it could impact
positively on the socio-economic development of the country.
While appealing to film
practitioners to double their efforts towards the attainment of
quality production, Odey stressed that Government will ensure
effective legislation to protect the property rights of creative
artists, in its anti-piracy
Campaign.
In his address, the Managing
Director of the Nigeria Film Corporation Mr. Afolabi Adesanya
listed professionalism in the industry, guidelines for the
establishment of film village and National film development
fund, as some of the major developments.
Adesanya said despite the
shortcomings of the Nigerian movie, it has come to command such
mass appeal amongst Nigerians and Africans in Diaspora.
