![]() Over time, more people began to be keenly interested in the industry. Due to lack of finance and the huge cost of film production those days, the filmmakers were distressed but they didn’t give up. Fortunately, in 1960, the then filmmakers (Hubert Ogunde, Jab Adu, Ola Balogun, Moses Olaiya, Adeyemi Afolayan and Eddie Ugboma) who started out their career in stage performance produced the first set of Nigerian movies. Not many people had interest in venturing into the business. The industry’s history dates back to the late 19th century and the colonial era in the early 20th century. Nollywood is born out of coincidence meeting resourcefulness. This is why the sector has been included as a lifeline Nigeria can hang onto. The industry’s potential as a big export product to the rest of the world is very important to the country especially as its government is enthusiastic about the need to diversify from its over-dependence on oil for most of its export revenue. Entertainment, which includes music and the blossoming Nigerian Movie industry (colloquially known as Nollywood) plays a massive role in the revenues of the country. The country has a mixed economy with financial, manufacturing, service, communications, technology and entertainment sectors making huge progress to revive the economy. Nigeria is one of Africa’s largest economies despite that its economy continues to stall.
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