Broadcasting
Nollywood Targets to Generate $14.82B by 2025

A report recently released by the Nigerian Entertainment Conference (NECLive) has revealed that the Nigerian entertainment industry is projected to reach an estimated $14.82 billion revenue in 2025, up from $4 billion revenue recorded in 2013.

The report, titled “Growth, Trends and Opportunity in Nigerian Creative and Entertainment Industry”, was written by NECLive, an entertainment research organisation.
According to NECLive founder, Ayeni Adekunle, the projections are based on the Africa Entertainment and Media Outlook 2023-2027, by PriceWaterhouseCoopers (PwC), a global expert in accounting and business reengineering.
“In 2012, the industry encountered formidable challenges, causing frustration and disillusionment.
“However, that very frustration became the catalyst for a transformative spark, giving birth to the visionary concept of NECLive. This audacious initiative aimed to unite the nation’s finest creative and industry minds, facilitating dynamic brainstorming sessions, fostering invaluable networking opportunities, and showcasing exceptional talent.
“In 2013, the realisation of this dream became a remarkable reality,” Mr Adekunle said.
He said that for the many aspiring actors and actresses who have come into Nollywood and made it big, the growing numbers in revenue stand as a testament to the sweat and work of the last 10 years.
Mr Adekunle also said that the industry has undergone a remarkable shift from struggling to sell music tapes and gain airplay on radio stations to a phase where artists, managers, producers, directors, and labels are thriving on established structures, leading to increased international recognition and acceptance.
According to him, this paradigm shift highlights that music is not merely an art but a substantial source of revenue and that the film and comedy sectors have become intricately linked, transitioning to online platforms to adapt to modern technologies, and fostering sectoral growth.
The report provided an in-depth analysis of the financial performance across various industry sectors over the past decade, spanning from the music industry to film, fashion, and comedy.
Projections indicate an impressive 16.5 per cent Compound Annual Growth Rate (CAGR) in revenue over the next five years. This growth is attributed to various factors, including the rising internet accessibility among mobile users, with an expected increase from 54 million to 78 million subscribers within the timeframe.
Additionally, the surge in streaming platforms and the integration of innovative technology like Generative AI are poised to drive double-digit revenue growth.
The report also delves into the growth, trends, and opportunities in the Nigerian creative and entertainment industry over the last decade and outlines its future expansion plans.
The film sector’s evolution from producing and distributing 1,800 films worth $5.1 billion in 2013 to 2,500 films valued at $6.4 billion currently has positioned Nigeria as the world’s second-largest film producer.
The entertainment industry has undergone a remarkable shift from struggling to sell music tapes and gain airplay on radio stations to a phase where artists, managers, producers, directors, and labels are thriving on established structures, leading to increased international recognition and acceptance.
The era of cassette tapes and DVDs, the group further said, “had given way to a thriving scene marked by sold-out global concerts and tours, international and local awards such as the Grammys, Billboard, BET, MTV Europe Music Awards, and AMVCA, exclusive movie premieres and cinema viewings, topping charts and grossing billions through extensive streaming on digital platforms like IrokoTV, ShowMax, Netflix, and Amazon Prime Video.
“The entertainment industry boasts an impressive track record of milestones, projecting its superstars, projects, and creative works onto the global stage”.
The report stated that “For the many aspiring actors and actresses who have come into Nollywood and made it big, the growing numbers in revenue stands as a testament to the sweat and work put in place within the last ten years and beyond.
“The sector has moved from the production and distribution of 1,800 films worth $5.1 billion in 2013 to 2,500 films worth $6.4 billion and counting. This makes Nigeria the 2nd largest film producer in the world.”
“Amid progress, it’s essential to acknowledge the challenges that once plagued the entertainment industry, such as high cases of piracy, which crippled profitability, and limited funding that hampered creativity as well as lack of international exposure.
“However, today’s landscape, shaped by the internet, streaming platforms like IrokoTV, Billboard, Netflix, and social media giants like Instagram, Twitter, TikTok, Youtube, Facebook, and Snapchat, along with forums like the Nigerian Entertainment Conference (NECLive), which has for the past decade served as gathering for the industry giants, facilitated dialogues, provided solutions, and steered transformative changes within the industry,” the report stated.
Broadcasting
NELFUND Investigates 34 Universities Over Students’ Missing Tuition Refunds

Nigerian Education Loan Fund (NELFUND) says it is investigating about 34 tertiary institutions over allegations that they failed to refund students whose tuition fees were paid twice under the Federal Government’s student loan scheme.

The Managing Director of NELFUND, Mr Akintunde Sawyerr, disclosed this during an interview on Arise Television.
Sawyerr said the agency had deployed a five-member investigative team, including operatives of the Economic and Financial Crimes Commission (EFCC) and internal auditors, to examine the allegations.
According to him, the investigation was prompted by numerous complaints received from affected students.
“As of right now, there are 34 institutions that we are looking at closely with respect to this issue,” he said.
Sawyerr explained that the double payment issue arose because President Bola Tinubu directed that the student loan scheme commence in the middle of an academic session instead of at the beginning.
He said the decision compelled many students to pay their tuition fees to meet registration deadlines while awaiting approval of their loan applications.
“What happened is that a lot of schools got double payment; some from the students and some from us,” he said.
“The refund process is entirely out of our hands. It is the recipient of the double payments that is obliged to make refunds to the students.”
The NELFUND boss noted that many students had borrowed money from family members, friends and other sources to pay their tuition with the expectation of receiving refunds once the loans were disbursed.
He said while some institutions had promptly refunded affected students, others had failed to do so.
“Some have been very good at this. Others haven’t been so good at it,” Sawyerr said.
“I reserve judgement on the intentionality around it because, for some of them, they just didn’t have the process to make refunds.”
Sawyerr disclosed that NELFUND was exploring a tokenised payment system that would enable students to authorise tuition payments directly to their institutions, thereby reducing the likelihood of duplicate payments.
He said the agency deliberately chose not to disburse tuition loans directly to students to minimise the risk of fund diversion.
“Paying the funds to the students could really lead to the temptation for them to divert and do other things,” he said.
The managing director, however, acknowledged that NELFUND lacked the statutory powers to compel institutions to refund students or prosecute officials found culpable.
He added that many frustrated students had submitted complaints not only to NELFUND but also to anti-corruption agencies, including the EFCC and the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
Sawyerr also expressed concern over increases in tuition fees by some institutions following the introduction of the student loan scheme.
He said NELFUND had declined to pay institutions that increased their tuition fees beyond acceptable levels.
“Some schools, because they get paid easily, started to put up their fees. We refused, point blank, to pay institutions who had hiked their fees beyond a certain level,” he said.
He reaffirmed the agency’s commitment to investigating every reported irregularity and strengthening the implementation of the student loan programme through continuous monitoring and internal reviews.
Broadcasting
Obi, NDC Presidential Candidate Faces N50Bn Defamation Claim over Alleged Podcast Remark

Abayomi Arabambi, national vice chairman (South-West) of the Labour Party, has demanded a public apology, a retraction, and N50 billion in damages from Peter Obi, presidential candidate of the Nigeria Democratic Congress (NDC), over an alleged defamatory statement made during a podcast interview.

The demand was contained in a letter issued by the law firm Neplus Ultra Attorneys and signed by Anderson U. Asemota, Peter O. Asimegbe, and Stanley C. Eziefulle on behalf of Arabambi.
According to the letter, the legal dispute arose from comments allegedly made by Obi during the interview, where he reportedly stated that Arabambi “does not have an address.”
Arabambi’s legal team described the statement as false, malicious, and defamatory, arguing that it portrayed their client as a faceless individual without legitimacy, credibility, or standing in public life.
The lawyers further claimed that the interview was widely circulated on television stations and digital platforms, exposing Arabambi to public ridicule and damaging his reputation.
“Our client has had a known residential and business address, maintains professional and political affiliations within Nigeria, and has never been a person whose whereabouts or identity were unknown,” the letter stated.
The legal team maintained that the alleged publication caused embarrassment and harmed Arabambi’s public image and political standing.
As part of their demands, the lawyers called for an unreserved public apology to be aired on national television, published on Obi’s verified social media platforms, and carried as full-page apologies in national newspapers.
They also demanded the payment of N50 billion as compensation for the alleged injury to Arabambi’s reputation, dignity, political standing, and public image.
Broadcasting
Why We’re Partnering With NIHOTOUR To Bring Nigerians In South Africa Home – Steve Babaeko

When Nigerians began arriving back home on emergency flights following an ultimatum from anti-migrant groups in South Africa, Steve Babaeko, alongside The Nigerian Institute of Hospitality and Tourism (NIHOTOUR), saw an opportunity to step up for his fellow citizens.

Steve Babaeko
The CEO of X3M Ideas explains that he saw a deep obligation, one that had nothing to do with advertising and everything to do with hospitality. For Babaeko, it was a reminder that an agency owes a duty of care to the community it exists within.
That conviction shaped the creative agency’s partnership with the Nigerian Institute of Hospitality and Tourism (NIHOTOUR) for the newly launched ‘Welcome Home’ pilot programme at Murtala Muhammed International Airport (MMIA) in Lagos. Rather than simply crafting a messaging campaign around the crisis, X3M Ideas helped design a tangible, physical system.
“This wasn’t built as a campaign about a crisis,” Babaeko said. “It was a hospitality agency deciding what it owes its own citizens the moment they land.”
For Babaeko, what X3M has built is infrastructure, something returnees can physically walk through, use, and benefit from the instant they clear the arrival gate.
With the MMIA pilot now officially running, NIHOTOUR directs returnees to immediate support services and issues them a Returnee Card. This card grants individuals a free first night at partner hotels, immediate transport assistance from the airport, and fast-tracked business registration support.
Furthermore, the initiative features a dedicated Restart Desk to assist returnee entrepreneurs and tradespeople with job placement referrals and business registration. This operates alongside a public Homecoming counter that tracks the cumulative number of returnees welcomed, businesses restarted, and jobs facilitated.
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