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Nigeria’s film industry, known as Nollywood, has emerged as a significant cultural and economic force, captivating audiences across Africa and the African diaspora. This chapter explores the evolution of Nollywood, its cultural impact, and the business models that have shaped its growth. It traces the industry’s origins from the rise of affordable digital technologies in the 1990s to its current status as a global phenomenon. The chapter highlights Nollywood’s role in reflecting and influencing Nigerian society, addressing sensitive issues such as gender equality, corruption, and religious conflict. It also examines the industry’s economic impact, contributing significantly to Nigeria’s gross domestic product (GDP) and employment. The chapter explores the business models employed by Nollywood, focussing on the industry’s reliance on low-budget filmmaking and familiar storylines to engage audiences as well as global business models used in the movie industry. It compares these models to those used in other global film industries, highlighting the challenges and opportunities presented by the digital age. The chapter proposes strategies for Nollywood to enhance its global presence, including leveraging technology to improve production quality and distribution, fostering a stronger cinema culture within Nigeria, and pursuing international collaborations. It also emphasises the need for regulatory frameworks that support the industry’s growth while ensuring quality standards, as piracy remains a dominant concern. The chapter concludes by affirming Nollywood’s potential to elevate Nigerian cinema and contribute to the country’s soft power, economic growth, and cultural diplomacy on the world stage.