The Nigerian film industry industry is expected to generate 40% of the 5 billion naira that would be made at the Nigerian box office by the end of 2017.
According to the Group Executive Director/COO FilmOne, Moses Babatope, the quality of Nollywood films are improving and so are the auidence.
“Of the 5 billion naira that would be made in box office sales this year - and that’s about 5 million tickets - the Nigerian film will gross 2 billion, and that’s about 40 percent of the box office," he said at the premiere of "My Wife and I" on Sunday, August 13.
"Three or four years ago, that figure was about 10% of the box office and less than 500 million. This is just to tell you that the quality of the films are improving and the number of the audience is improving," he added.
So far, the reported success of movies like "Isoken," "Okafor's Law," "10 Days in Suncity," "Alakada Reloaded" and "Hire a Man" will play a role in setting this new record.
Movies currently showing in the cinemas include "Hakkunde" and "Banana Island Ghost."
Upcoming movies that are expected to do well include "Mentally," "Tatu," "My Wife and I" among others.
There's also the anticipated sequel to "The Wedding Party," which is expected to surpass the 400 million naira record set by its prequel.
In 2016, with movies like "Fifty," "Wives on Strike," "The CEO" "76," and "A Trip to Jamaica," Nollywood grossed 1 billion naira.