Nollywood, Nigeria's $800 Million Movie Industry And Number 2 In The World

Nollywood grew quickly in the 1990s and 2000s and became the second largest film industry in the world in number of annual film productions, placing it ahead of the United States and behind only India. In 2013, it was rated as the third most valuable film industry in the world after generating a total revenue of NG₦1.72 trillion (US$10 billion) in 2013 alone, placing it behind India and the United States.

The Nigerian film industry is worth NG₦853.9 billion (US$5.1 billion) as at 2014 and produces hundreds of home videos and films per annum. Nigerian cinema is Africa's largest movie industry in terms of value and the number of movies produced per year. Although Nigerian films have been produced since the 1960s, the rise of affordable digital filming and editing technologies has stimulated the country's film and video industry.

Nigeria's movie industry (which started as Home video market) a.k.a Nollywood has been typically accepted to have started - immediately following the success of Kenneth Nnebue’s “Living in Bondage”, an Igbo-language movie in 1992 starring Kenneth Okonkwo. Men like Kenneth Okonkwo, Kanayo O Kanayo and Bod-Manuel Udokwu are the Nigerian version of die hard actors, they made the first impression of what a film looks like, they starred alongside other selected Igbo casts in the earliest of Nigerian home video (Living in Bondage) produced when films were shot with VHS cameras and edited in television studios using a couple of (gone extinct) VCR machines.