Nollywood Contributes Hugely to Nigeria’s Economy- Gbenga Salu

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Enterprise Television- Nollywood Contributes Hugely to Nigeria’s Economy- Gbenga Salu

The emergence of the Nigerian film industry, Nollywood has contributed immensely to Nigeria’s Gross Domestic Product (GDP), an award-winning Nigerian film Director, editor and isual effects artist, Gbenga Salu said.

Speaking with Enterprise Television in an exclusive interview, he said, Nollywood is one of Nigeria’s biggest sources of job.

“I think the government has not really seen film industry as something that needs to be invested in because I have read a couple of reports of how much Nollywood has contributed to the Gross Domestic Product (GDP) of Nigeria, it is quite huge. Nollywood is the second or first source of job in Nigeria”, he said.

According to economic observers, the industry currently accounts for N853.9 billion ($7.2 billion) or 1.4% of Nigeria’s GDP and also considers Nollywood as one of the major planks on which to diversify the Nigerian economy.

Corroborating this, the International Monetary Fund (IMF), in its Finance and Development magazine titled “Africa growth’s ups and downs”, says Nollywood employs over one million people in the country.

“After decades of slow growth, Nollywood, one of the largest film industries in the world in terms of number of films produced, is a story of runaway success,” the IMF said.

“The industry currently accounts for N853.9 billion ($7.2 billion), or 1.42 percent of Nigeria’s GDP. It employs more than a million people directly or indirectly. It is being touted as the country’s second-biggest source of jobs after agriculture.”

Speaking on the issue of plagiarism in the industry, Salu emphasized that it is against the ethics of the industry and needs to be controlled.

“I dislike duplication of ideas, as a creative person you need to be original. If you know something is already in existence, you can do the same thing and put something extra on it”, he said.

He, however, advises startups in the creative industry never to depend on money as a criterion to make it in the industry but rather to provide value.

He said: “As a creative person, money should not be the motivation, the first thing you want to do is to show people your ability, what you are good at, if that is achieved, money will come because money follows value.”