In the world of cinema in Nigeria, a worrying trend is emerging: the cost of making a film has doubled due to the depreciation of the Naira. Ifeanyi Azodo, the National Chairman of AMPRAC, revealed in a telephone interview with the News Agency of Nigeria (NAN) that a year ago, a film could be made on a budget as low as 4.5 million of Naira, but now it takes up to 10 million. This increase has led to a reduction in producers’ commitments to actors.
Azodo underlines that this worrying situation pushes cinema professionals to diversify their activities to ensure their livelihood. The actors, who used to get about 400,000 Naira per film, are now asking for up to a million Naira. This development affects all genres of films – Igbo, Hausa and Yoruba. As a result, producers, directors, artistic directors and all those involved in the film industry are now exploring other avenues.
Faced with this dilemma, Azodo calls on President Bola Tinubu to act quickly to stabilize the economy. It is crucial that the government intervenes to support the cinema sector by facilitating access to favorable loans.
This new reality has repercussions not only on cinema professionals, but also on cinema lovers and the country’s cinema culture. It is essential to find solutions to preserve this crucial industry for Nigerian society.
In response to this crisis, it is imperative to promote creativity and ingenuity in the film sector, while ensuring financial and structural support measures to ensure its sustainability.
To learn more about the challenges facing the film industry in Nigeria and the solutions envisaged, see our previous articles on the subject:
– [The economic impact of the depreciation of the Naira on cinema in Nigeria](link)
– [How are Nigerian cinema actors adapting to the new economic situation?](link)