Nollywood Breaks Record After Earning N1 Billion in 2016 Despite Recession
Nigeria movie industry has never felt this good in history despite the hardship the economy experienced last year in 2016. The serious downturn experienced by several citizens of the country did not affect the box office revenue for several movies released in the last year all went to the bank smiling.
According to Guardian, an amazing N1 billion was made from a record 50 locally-produced titles. The N1 billion represents nearly 30 percent of the N3.5 billion generated from just 28 cinemas across Nigeria, which includes movies from Hollywood and around the world.
The most remarkable spike came from ELFIKE’s The Wedding Party that still continues to break box office records three weeks after its release on December 16, 2016. The movie broke AY Makun‘s record of N176 million by making N203 million in about two weeks.
