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| Image:ChannelsTv |
Nigerian filmmaker Niyi Akinmolayan has opened up about the silent exit of international streaming giants Netflix and Amazon from Nollywood, blaming it on the harsh economic realities triggered by the devaluation of the naira.
Speaking during Channels Television’s Youth Forum on Thursday, Akinmolayan expressed concern over how the weakened naira has disrupted the film industry’s business model, especially for creators who once relied on international platforms for distribution and revenue.
According to him, the federal government’s decision to collapse multiple foreign exchange windows and remove fuel subsidy led to a sharp fall in the naira’s value, making it financially impractical for global platforms to continue licensing Nigerian content.
“Overnight, we stopped getting those emails that kept many of us afloat. These weren’t just random brands they were licensed, taxed, and operating in Nigeria. Yet, their exit didn’t spark any form of government response,” he said.
Akinmolayan noted that many Nigerian filmmakers now struggle to find sustainable distribution models, with production budgets shrinking and international exposure dwindling.
He stressed that the government has failed to engage or support the local creative industry despite being aware of the economic shifts affecting it. “No one came to ask us what we needed or how the gap could be bridged. That silence says everything,” he added.
The director also expressed fears that the current environment is stifling creativity and growth, urging authorities to take the entertainment industry seriously and develop policies that protect it from future economic shocks.
With international partnerships dwindling, Nollywood now faces the challenge of surviving an uncertain financial terrain without the backing of its once reliable global allies.
#Netflix
#Amazon
#Nollywood
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