Nigerian cinemas will start charging Nigerians N5,000 to watch one movie

• Before year-end, cinema-goers will have to cough up to N5,000 if they plan to watch movies

• Nigerian cinemas said they are raising ticket price due to the economic situation in Nigeria and around the world

• The co-founder of FilmHouse cinema said rising dollar rate and inflation has affected the cost of business

Nigerian cinemas will most likely increase ticket prices before the end of 2021 second half, according to the Executive Director of Genesis Group of Cinemas, Ope Ajayi

The cinema industry has sustained its ticket prices between N1,500 and N2,500 for over five years, but that will change as Ajayi projected that prices will hit about N5,000 by the end of the year.

Ajayi told Rotus Oddiri of Global Business Report on Arise TV, that:

"It's inevitable. The dollar is moving against us, inflation is moving against us. It's inevitable - I think you are going to start seeing prices around N5000 per ticket at the end of the year."And that's the reality of the times that we are in."

Moses Babatope, the co-founder of FilmOne Entertainment Group, said he shares the same sentiment with the head of Genesis Cinemas considering the situations with local and global economies.