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Nigerians spent about N450m on films in November. How much more will go down in the festive season?

Data reveals Nigerians spent N3bn in cinemas in first half of 2019

The Cinema Exhibitors Association of Nigeria (CEAN) has, in its latest publication, revealed that Nigerians spent a total of N449,942,977 to watch movies in the month of November.

Why this is shocking is because despite economic challenges, entertainment -like fashion still has its head high, cashing out from millions of Nigerians.

While the festive season is gradually coming upon us, it can only be imagined how much more millions will go down on movies as the period is characterised with free hours and vacation from work for most government workers, private sector employees and employers alike.

Last year December, CEAN pegged N600m as the amount spent by Nigerians on movies.

Read also: Nigeria spent N1.3trn importing rice, wheat, others in 1 year –CBN

This, however, might not be the true figure all together as movies in cinemas goes with other logistics. This might include cost of popcorn, soft drinks and even transportation fares.

The movie industry is apparently booming and investors will, no doubt, smile more to the bank this season.

With superfluous and tectonic cinema houses in Lagos, Kano, Port Harcourt, Abuja etc., and more under construction; it is, therefore, not surprising that Nigeria has the largest West Africa cinema chains.

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About the author

Ridwan Adelaja

Ridwan Adelaja is a multimedia journalist with a special interest in business news analysis

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