The Nigerian film industry has showcased exceptional performance since the start of 2024, with momentum continuing from December’s high-profile releases.
The sector has amassed a robust N6 billion in total revenue, with Nollywood films capturing an impressive 50.05% market share.
This positions the Nigerian box office on track to meet its ambitious N10 billion revenue target, significantly surpassing the previous year’s N7.24 billion.
Nollywood films have made a significant contribution, accounting for N2.32 billion of the total revenue and 640,539 admissions.
This slightly outpaces Hollywood’s contribution of N2.32 billion, which represented 49.95% of the market share. However, Hollywood films recorded fewer admissions, with 559,122 tickets sold, equating to a 46.61% share of cumulative admissions compared to Nollywood’s 53.39%.
Despite this achievement, Nollywood’s admissions growth has been marginal, at just 0.01% year-on-year, with total ticket sales hovering around 1.1 million.
In this context, Nairametrics has spotlighted the filmmakers behind some of the year’s highest-grossing films, each surpassing the N100 million mark.
This includes key successes from the first eight months of 2024 as well as standout releases from December 2023.
Box office revenue: N120.4 million
Naz Onuzo, a prominent figure in both the creative and financial sectors, is the driving force behind Inkblot Productions, one of Nigeria’s leading independent film and TV production companies.
As the Executive Producer on numerous high-grossing films such as The Wedding Party series, Up North, Moms at War, and the latest hit Muri and Ko, Naz has helped solidify Inkblot’s reputation as a powerhouse in Nollywood. Released in June 2024 and directed by Biodun Stephen, Muri and Ko has been a major success, grossing over N100 million at the Nigerian box office within weeks of its release.
Beyond his contributions to Nollywood, Naz is a seasoned private equity professional, with more than a decade of experience at African Capital Alliance. He also serves as a non-executive director at FilmOne Entertainment, Filmhouse Cinemas, and Global Accelerex, where he provides strategic, financial, and creative oversight.
