Nollywood is the name attributed to Nigeria's movie industry. By definition it is Nigeria's movie industry by Nigerian production teams for the Nigerian people.
Today Nollywood ranks third in the global movie industry after Hollywood (USA) and Bollywood (India). It has been able to hold its own despite so many deterrents, which to name a few include, expensive technical tools of the trade, inconsistent supply of electricity (which is taken for granted in almost every other country in the world), the horrible traffic-jam conditions which can lead to extreme lateness in production times (but the "show must go on!"). However, in terms of numbers of movies produced anually, Nigeria's Nollywood ranks second after India's Bollywood.
Nollywood movies are made on shoestring budgets ranging from $10,000 to $15,000 a piece spanning 7 to 10 days. This is an incredibly short jam packed production time by all standards.
What makes the industry so unique is that it is a video driven industry, and then released/ distributed for sale to the public usually on VCD's, the Nigerian refer to the movies as "home video".
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