Nollywood is playing a very important role in Nigeria's economy. Despite all the criticisms, Nollywood has succeded to help push Nigeria to the top.
Nollywood Helps Double Nigeria's GDP
Nigeria's movie industry Nollywood has played a great role in doubling Nigeria's GDP
Nigeria has been declared as Africa's largest economy. According to The Nigeria Bureau of statistics, Nigeria took the position from South Africa as Africa's largest economy after it recalculated its gross domestic product (GDP) to add Nollywood film industry, that had been left out for almost 15 years, the Nigeria Bureau of Statistics said.
Nigeria's GDP has almost doubled in size following the rebasing, growing to 80.3 trillion Nigerian naira ($509.9 billion) in 2013, up from 42.3 trillion estimated before the rebasing.
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