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Canada-Nigeria: Opportunities in Film and Media Production

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Canada-Nigeria Business & Investment Summit Webinar Series: Opportunities in Film and Media Production

About this Event

As a followup to our inaugural Canada-Nigeria Business & Investment Summit in October 2019 we continue our regular webinar series covering trade and investment opportunities between Canada and Nigeria, culminating in our 2nd Annual Summit on October 7-9, 2021.

The series is organized by MineAfrica Inc. and Leadership and Governance Canada in partnership with Schulich Executive Education Centre at York University.

Our December 3, 2020 webinar focusses on Opportunities in Film and Media Production between Canada and Nigeria.

Confirmed presenters to date include (draft and subject to change):

- Segun Olude, Designer, Educator, Storyteller, Photographer

- Ryan Ward, Deputy High Commissioner in Nigeria, also covering Equatorial Guinea and São Tomé and Príncipe

- Isioro Tokunbo Jaboro, President, Toronto International Nollywood Film Festival (TINFF)

- Susanne Vaas, Vice-President, Corporate & International Affairs, Canadian Media Producers Association

- Akin Rotimi, Producer/Director, Great and Mighty Things Inc.

- Shant Joshi, President, Fae Pictures

- Dr. Badewa T. Adejugbe-Williams, General Manager, Abuja Film Village International (AFVI)

Nigeria’s Media and Entertainment Industry

Nigeria’s media and entertainment industry “Nollywood” sprang up in 1992 and is currently the second-largest film producer in the world in terms of number of movies (approximately 2,500 films a year).

“Nollywood” is a unifying brand for practitioners in scripting, directing, sound, High Definition (HD) techniques, acting, cinematography, make-up, editing, etc.

The local industry employs about a million people and generates over US$7 billion for the economy. The industry accounts for 1.4% of GDP according to IMF reports.

Total music revenue in Nigeria is estimated to rise at a 13.4% to US$73 million in 2021. Nigeria’s TV and video market revenue grew by 7.5% to reach US$732 million in 2018 and is projected to reach US$806 million by the end of 2020.

Business opportunities in the Nollywood industry include opening of cinemas in underserved cities, use of technological platforms to enhance distribution e.g. Iroko TV and Netflix, training and capacity building for cinematography, scriptwriting and directing, and movie production equipment.

Nigeria's Economy

Nigeria has the largest economy in Africa (GDP of $448 billion in 2019) and the largest population (207 million), in addition to one of the largest populations of youth in the world. With an abundance of resources, it is Africa's biggest oil exporter, ranks first in African in farm output and also has the largest natural gas reserves on the continent. Despite some development challenges Nigeria possesses strong business and investment fundamentals and represents a tremendous market opportunity for Canadian companies looking to invest, export products or source imports. And Canada is an excellent strategic partner for Nigeria offering expertise, investment, financing, products and services across a broad range of industry sectors.

For more information:

Wayne Floreani, wayne@mineafrica.com, 416.533.3998, www.mineafrica.com

Kola Esomojumi, kesomojumi@leadershipandgovernance.com, 647.866.4103, www.leadershipandgovernance.com

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