Veteran Nollywood actor Olaiya Igwe has recently shed light on the financial realities of the Nigerian film industry, revealing that impressive box office figures do not always translate into profit for filmmakers.
Igwe made the revelation while speaking about the earnings of top industry figures, including actress and filmmaker Funke Akindele and actor Femi Adebayo.
According to him, despite Akindele’s films grossing over ₦1 billion in cinemas, the actress did not receive up to half of the total revenue generated.
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Igwe further cited Adebayo’s epic film Jagun Jagun, claiming that the project failed to turn a profit during its cinema run, despite its popularity and strong performance.
“Funke Akindele grossed over ₦1 billion at the cinema, yet she didn’t even receive up to 50% of that revenue. Femi Adebayo also made no profit from his film Jagun Jagun in cinemas,” he said.
Igwe went on to explain that many people often misunderstand box office success, assuming that the total revenue goes directly to the producer.
“These days, you hear about massive box office figures, but most people don’t realise that the money doesn’t go directly to the producer,” he added.
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