You see, it is not all businesses in Nigeria that are suffering in the era of economic reform that President Bola Tinubu introduced on his inauguration.
Cinema owners appeared to have cashed-out in 2024, as Nigerian box office saw a 60% revenue increase, reaching ₦11.5 billion, with 2.66 million cinema-goers.
Top films included Everybody Loves Jennifer and Alakada Bad & Boujee.
The Cinema Exhibitors Association of Nigeria (CEAN) reported that cinemas across the country earned ₦11.5 billion from ticket sales, a significant rise from the ₦7.2 billion recorded in 2023.
CEAN’s National Chairman, Ope Ajayi, shared this achievement during an interview with reporters in Lagos.
He highlighted that 2.66 million people attended cinemas in 2024, up from 2.54 million the previous year.
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Despite economic challenges, cinemas saw a 4.5% growth in admissions, indicating a strong recovery within the industry.
Ajayi expressed pride in the industry’s resilience.
“This growth demonstrates the creativity and determination within our sector,” he said.
He pointed out that it marked the first increase in admissions since 2020, signalling a clear revival in the cinema subsector.
The top Nollywood films of the year included Everybody Loves Jennifer, which earned ₦1.124 billion, Queen Lateefah with ₦365.5 million, Ajosepo at ₦257.3 million, Ajakaju with ₦252.8 million, and Alakada Bad & Boujee at ₦229.1 million.
Both Everybody Loves Jennifer and Alakada Bad & Boujee continued their runs in cinemas.
In addition, Hollywood blockbusters like Deadpool & Wolverine, Bad Boys 4, Gladiator II, Moana 2, and Venom 3 dominated the international scene.
The growth in both revenue and attendance signals a vibrant future for Nigeria’s film industry.
