At the same time, it's also common knowledge that Nollywood has a long way to go in the area of improvements.

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What's more, the top players in the game believe as much including the likes of movie producer, Mahmood Ali Balogun.

The veteran producer who was a guest on Channels' Sunrise said that although Nollywood has come a long way, it's distribution channels remains it's biggest issues.

Balogun went on to analyse other ways the industry could develop to its status as the second largest movie industry in the world.

Watch the video clip for more.