Nollywood's Notoriety: Influence and popularity of Nigerian films spread beyond Africa

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02:32

Nigeria's film industry -- affectionately known as Nollywood -- is the third most valuable in the world, behind Hollywood and Bollywood. Despite the country's challenges, Nollywood has been growing in leaps and bounds over the years -- and now even EXTENDS into Europe and North America. CGTN's Phil Ihaza has more.

At a movie set on the outskirts of Nigeria's capital Abuja, the camera crew is setting up the day's shoot as actors rehearse their lines. This movie will be screened in cinemas across the country and beyond.

PHIL IHAZA ABUJA, NIGERIA "A lot of time, energy and resources are involved in producing a movie especially one that deserves global recognition. Known as Nollywood, Nigeria's movie industry continues to show it's a major player in the entertainment sector."

According to the World Bank, Nollywood is worth over five billion dollars. A romantic comedy "The Wedding Party", released in 2016, became the first Nigerian flick to break $11.5 million at the box office. That's a significant milestone because of rampant copying of Nollywood films. But new opportunities are coming up.

ENYINNA NWIGWE ACTOR "The platforms are coming here now, Twentieth Century Fox having partnerships, the Sonys' having partnership with the Ebony lives, the collaborative work with wedding party film set all the records and even shattered its own record in a sequel. Such collaborations are coming now and exposing us to a bit more of an international and global audience."

Despite its recent successes, Nollywood needs greater investments to go further.

ISHAYA BAKO DIRECTOR "The challenges are there from funding to power supply, to not really having studios, to lack of infrastructure on one hand and capacity development on the other. We need more training."

Filmmakers believe the influence of the Hollywood blockbuster "Black Panther" has raised the level of ambition.

BEM PEVER PRODUCER "A lot of people say that Africa is a continent that eventually, will do a lot of great things around the world and I think Black Panther has been able to channel that direction and give us that hope that there's something tangible in Africa."

If Nollywood is able to attract significant new investment, it holds out the prospect of boosting Nigeria's economic development. Phil Ihaza, CGTN, ABUJA, NIGERIA.