The Nigerian film industry generated 11.5 billion naira in revenue in 2024. This marked a 60 percent increase compared to 2023. This growth was disclosed to the Nigerian News Agency by Ope Ajayi, National Chairman of the Cinema Exhibitors Association of Nigeria (CEAN).
According to Ajayi, the revenue growth is a substantial improvement from the 7.2 billion naira recorded in 2023. Cinema attendance also rose slightly, with 2.66 million admissions in 2024 compared to 2.54 million the previous year.
“We have recorded 60 per cent growth in revenue in 2024 and about 4.5 per cent growth in admissions despite harsh economic climate,” Ajayi said. “This is a remarkable achievement, and it is a testament to the industry’s resilience, creativity, and determination.”
Ajayi, who is also in charge of Cinemax, a relatively new distribution outfit in Nigeria, added that those figures represent “the first time we are seeing a growth in admissions since 2020 signaling a significant upturn in the cinema subsector”.
Top Nollywood Films of 2024
According to CEAN, the top-grossing Nollywood film of 2024 is Everybody Loves Jenifa, the Funke Akindele produced and co-directed picture that hit cinemas in December. It generated a record-breaking 1.124 billion naira at the box office. Other top earners include Queen Lateefah (365.5m), Ajosepo (257.3m), Ajakaju (252.8m), Alakada Bad & Boujee (229.1m).
The Impact of Hollywood
Hollywood films also contributed significantly to Nigeria’s box office revenue. The top earners from the US were Deadpool & Wolverine, Bad Boys 4, Gladiator II, Moana 2, and Venom 3.
