The entertainment industry of Nigeria has grown to become one of the key players in its economy. From sports and media to films and gambling, Nigeria has it all.
Some of the biggest names in the global entertainment industry are from Nigeria. However, sadly, not many people know and realize the potential of Nigeria.
With that view in mind, we have curated a few pieces of information about Nigeria’s entertainment industry for more people to know and appreciate the gold mine that the nation is.
The Film Industry of Nigeria:
One of the biggest and an integral part of Nigeria’s entertainment sphere is its film industry. Some very well-known and established names in Hollywood hail from Nigeria.
Plus, Nigeria’s film industry is also one of the biggest job creators in the country. If sources and surveys are to be believed, this film industry produces about fifty movies every week.
This is only second to India’s Bollywood. With fifty movies every week, the film industry of Nigeria has emerged to become a hotspot for job opportunities.
It employs not just the actors and directors, but also technicians, makeup artists and many more such people. Though the revenue garnered by Nigeria’s film industry does not match up to Hollywood or Bollywood, it is still a significant contributor to the nation’s economy.
It has been noted that Nigeria’s film industry creates about one million jobs and raises about $590 each year. With such figures being churned out every year, it is normal for the industry to be one of the biggest job creators.
The entertainment industry of Nigeria also has a significantly low production cost when compared to the other industries.
The films are mostly made and produced in a month, and start making money the minute they are released. This has enabled the film industry of Nigeria to lower its production cost but increase their revenue.
In a nutshell, the Nigerian film industry is nothing less than a gold mine with amazing potential.
The Gaming and Gambling Industry of Nigeria:
Now that we have discussed Nigeria’s film industry, it is time we look at the various aspects of its gaming industry.
Over the last couple of weeks, the Nigerian gaming industry has flourished and gained a solid footing in the market.
With enhanced network connection and better accessibility in smartphones, the gaming industry has now been able to raise revenue.
In fact, Nigeria has emerged to become one of the leading names in the gambling market. iGaming has been on the rise ever since network connections have improved, something that was a challenge in the past.
People now have accessibility to more smartphones. They can play online on casinos like the Canada online casino using VPNs or in any offshore-owned and operated casino.
That said, it must be noted at this point in time that the laws of gambling in Nigeria were quite stringent. Gambling, as an activity, was a punishable offence, and it still falls under the Criminal Code Act and Gaming Machines Act of 1977.
This means that Nigerians might still not be allowed to gamble in the locally operated online and offline casinos. However, they can gamble on online casinos and land-based casinos outside the purview of their law.
This is a significant and refreshing change in the body of law since it reduces fraudulent activities and garners revenue.
Plus, it must also be noted that the online betting industry is quite a big one in Nigeria. It is a significant contributor to the economy of Nigeria.
The three-most accessed online betting sites in Nigeria are Merrybet, Nairabet and Winners Golden Bet. These sites are accessed by thousands of Nigerians each day and are also sanctioned by the government.
This is what makes these sites safe to play on. Since betting on sports is legal in Nigeria, the revenue that is received directly contributes to the economy.
As we can see from the discussion, the entertainment industry in Nigeria is a massive pool of talents and technological innovations.
Though, there has been a period of doldrums in the past where the Nigerians had to face technological challenges of their own, things have changed now.
The scene in Nigeria’s entertainment industry is quite refreshing and shall continue to be so. As the days bleed into years and months, the innovations shall only enhance, and Nigeria’s entertainment industry shall continue to blossom.
Nigerians have taken on the world with their talent, and shall continue doing so in the years to follow.