In order to strengthen its economic ties with Nigeria, Spain has promised to prioritise investment in Nollywood. Ambassador of Spain to Nigeria, Marcelino Ansorena made this known in an interview with some newsmen in Abuja.

Speaking on the sidelines of the Spanish contemporary dance concertorganised to promote the Spanish and Nigerian cultures, Ansorena was quoted to have said, “We are interested in Nollywood; Nollyhood is our priority, we will continue to support it.” 

Ansorena’s words:“Nigeria and Spain have many things in common; also, we have security threats in common, for us the security and stability of Nigeria is very important. We have important investments; we are the second-largest partner with very important commercial ties because we both have a lot of oil and gas.

“So, we think that Nigeria’s stability is very important for Spain, but we believe in the future of Nigeria. Last year, we participated in the film festival which held in Abuja, we will continue to present Spanish films in Nigeria.” 

What you should know: The Nollywood industry seems to be gaining priority at the global stage, especially of late. Arguably, Nollywood films have a large following in Africa and among Africans around the world.

Just some weeks back, American streaming platform, Netflix, which had previously acquired Lionheart, Wedding party, Chief Daddy and Mokalik, amongst others has now added three movies to its platform. These movies are The Wedding Party 2, King of Boys and Merry men.

The Nigerian film industry, however, produces about 50 movies per week, second only to India’s Bollywood — more than Hollywood in the United States.

Although its revenues are not at par with Bollywood and Hollywood, according to the United Nations (UN), Nollywood still generates an impressive $590 million annually.