Nollywood films can make more money for Nigeria than oil — Obaseki

The Edo state Governor, Godwin Obaseki is of the believe that the Nigerian film industry can become a cash flow for the country.

According to him, the returns from Nollywood will be bigger than crude oil if supported and nurtured.

Speaking at an event in Lagos on Sunday, October 15, Obaseki said that profits from the creative industry can help in diversifying the economy as Nigeria has the dominant market on the continent which continues to grow.

“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,” Obaseki told journalists.

He called on the government to support the creative industry into becoming an avenue for prosperity in the Nigerian economy.

The mixer was held ahead of the second edition of the Edo State International Film Festival (ESIFF) which will take place in Benin City between November 30 and December 2.

Report stated that over 3,000 films were submitted from 126 countries, with the most entries coming from Nigeria, Iran, India, the United States and Brazil.