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Veteran filmmaker Bolanle Austen-Peters has identified Nigeria’s economic climate—not a lack of talent—as Nollywood’s primary obstacle, warning that high-quality productions can quickly lead to “financial ruin.”
Speaking at the 5th Peace Anyiam-Osigwe Nigeria digital content regulation conference held at the Muson Centre’s Shell Hall in Lagos from November 18 to 19, Austen-Peters addressed the pressures facing Nigerian filmmakers. The two-day event, themed “From Volume to Value: The Future of the Nigerian Motion Picture Industry in the Digital Age,” brought together producers, directors, actors, and writers to discuss the state of the industry in the digital era.
According to the 56-year-old director, the challenge is not a lack of understanding of quality, but the steep costs and limited distribution opportunities that make producing world-class films financially unsustainable.
“When we bring in cinematographers from South Africa, from Europe, from America, you know the amount of money it costs us. It is not the same as using a local one. So when we talk about spending a lot of money, quality and distribution become a problem as well. We do all these films, who is buying them off us?” she said.
Austen-Peters, who was honoured at the event for her significant contributions to Nollywood, further underscored the economic dilemma:
“Who is going to buy a film that I spent $2 million producing in Nigeria? Exactly.”
She explained that limited platforms force producers to cap budgets to avoid financial losses:
“We have limited platforms. So again, we’re handicapped. So when we talk about equality, is quality going to become financially rewarding? No. So when I’m making some decisions, I’m asking myself, ‘Hey, Joe, listen, we can’t spend more than N300 million for a Nigerian film. We cannot spend more than N500 million, because if we do that, we’ll run into financial ruin.’”
Despite these hurdles, Austen-Peters praised the resilience and determination of Nigerian filmmakers:
“Yeah, so therefore, cut back. So that is telling you that it is not a lack of understanding of what quality is that is the problem in Nigeria. It is the absence of so many things that can make quality prevail in our environment that is stopping us…But your environment is hindering you. An environment where there is a lack of funding, a lack of adequate infrastructure, lack of capacity. So many things are hindering us, yet we keep pushing. We keep producing. We keep churning out content…In spite of the big boys leaving us, we say, ‘we are not giving up.’ You have to celebrate the spirit of an average Nigerian story. We never wanted to give up. But unfortunately, whether we like it or not, the world’s becoming smaller and smaller. We live in a global village now.”
Shuaib Hussein, chairman of the National Film and Video Censors Board (NFVCB), also addressed the conference, acknowledging progress under his leadership while highlighting ongoing challenges, particularly the illegal online distribution of films.
“Despite the progress that we have recorded, our industry continues to face challenges that demand urgent attention. One of the most pressing issues is the unauthorised uploading, streaming, and distribution of films on online platforms, especially the YouTube platforms and other digital channels, without recourse to the NFVCB for classification or licensing,” he stated.
The conference concluded with a special reception honouring 23 veteran actors and filmmakers, including Rita Dominic, Sam Dede, and Segun Arinze, celebrating milestones in their 50th and 60th birthdays this year.
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