British-Nigerian actor and filmmaker David Oyelowo has proposed a $10 million investment blueprint aimed at transforming Nollywood into a globally competitive industry.
Speaking during the “Rhythms of the Continent” panel at the 14th Africa International Film Festival (AFRIFF), Oyelowo said the funding model—combining institutional finance and private capital—would address long-standing access and quality gaps that limit Nigerian filmmakers on the international stage.
Under the plan, $1 million would be allocated to each of 10 filmmakers to develop high-quality scripts and productions.
Oyelowo said $5 million could come from partner institutions such as Afreximbank, while the remaining $5 million would be sourced from private investors.
“Nollywood is coming close to telling stories for global consumption,” he said.
“To begin its rise into international spaces, all that’s needed is about $10 million.
“I’ll take responsibility for delivering Hollywood-quality scripts, while distribution partners like FilmOne and MultiChoice should lead the way.”
Oyelowo emphasised mentorship, accountability, and proven distribution channels as safeguards to ensure the funds reach creators and deliver measurable returns.
His proposal comes amid increased financial commitments to the creative sector.
Afreximbank launched a $200 million facility for Nigerian creatives in 2024 under its $2 billion CANEX programme, followed by a $1 billion film fund in 2025 to support production and distribution.
A July equity deal with entertainer D’Banj’s platform further linked financing to talent development.
Nigeria’s federal government has also backed film financing through the N5 billion Creative Fund managed by Providus Bank.
From May 2024 to mid-2025, several producers have benefited from disbursements targeted at commercially viable projects.
However, Oyelowo expressed frustration over stalled discussions with funders.
“Afreximbank came to me and I don’t know where they went afterwards,” he said.
Filmmaker Blessing Uzzi echoed concerns over funds being announced but rarely accessed.
The panel argued that improving execution and distribution—particularly through FilmOne for theatrical releases and MultiChoice for streaming—remains essential for attracting returns and expanding Nollywood’s global footprint.
They noted that the Korean drama model offers a roadmap for leveraging public-private partnerships to scale exports.
Oyelowo said Hollywood is increasingly embracing African stories and urged Nigeria to position itself as the continent’s creative leader.
His proposal, he added, offers a low-risk entry point for investors through a blended financing approach with clear oversight.
Industry analysts say such a model could unlock significant value if properly structured, aligning with rising investments from Afreximbank and the Central Bank’s 2025 creative loan schemes.
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