Are the Nollywood box office figures credible? Moses Inwang speaks to Pulse Nigeria about the authenticity of these numbers.
In a recent interview with Pulse Nigeria, filmmaker Moses Inwang spoke on the credibility of these numbers.
According to Inwang, every released box office figure is taxable. He also explained that most actors have back-end deals where they get a percentage of box office grosses.
"These days, every figure that we give is real and taxable," he said.
"Some of the actors and crew members have back-end-deals. So, if people go about saying 'oh, we made 500 million,' you know that there are people who are going to get a percentage of that 500 million naira."
"You know the LIRS and FIRS are there to get some of that money. You know the actors too probably have one or two percent.
"The writers and all these people are going to get a chunk of that money. So, it's real. I hope the figures we hear these days are real.
Currently, the highest grossing Nollywood movie of all time is "The Wedding Party" with 450 million naira. "A Trip to Jamaica' has the second spot with 178 million naira. The third highest grossing movie is "30 Days in Atlanta" with 137 million naira.
By the end of 2017, the Nigerian box office is expected to gross at least 5 billion naira, with Nollywood movies bringing in 40% of the amount.
Moses Inwang is popular for movies like "Torn," "American Driver" and "3 Digits."
His most recent movie is "Alter Ego," a movie, which also marked Omotola Jalade Ekeinde's return to Nollywood after a 3-year break from acting.
"Alter Ego" opened in cinemas on July 21, 2017.