British-Nigerian filmmaker David Oyelowo has proposed a $10 million investment model aimed at positioning Nollywood for wider international reach. Speaking at the 14th Africa International Film Festival (AFRIFF) during the panel “Rhythms of the Continent”, he outlined a structure that blends bank financing with private contributions to support high-quality filmmaking and reliable distribution.
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Structured funding model for filmmakers
Oyelowo’s blueprint sets aside $1 million each for 10 filmmakers to develop scripts and produce films designed for global markets. He said the model requires $5 million from institutions such as Afreximbank, with the remaining $5 million coming from private investors.
“Nollywood is coming close to telling stories for global consumption,” he said. “To start the rise of Nollywood breaking into international spaces, all is needed is about $10 million. I’ll take full responsibility to offer Hollywood-quality scripts while distribution vehicles like FilmOne and MultiChoice should take priority.”
He said mentorship and established distribution platforms would help reduce risks and ensure returns.
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Momentum from recent funding commitments
The proposal follows a wave of financing directed at Nigeria’s creative sector. Afreximbank’s $200 million Nigerian facility, launched in October 2024 under its $2 billion CANEX initiative, supports film infrastructure and exports. In May 2025, the bank introduced a $1 billion film fund for production and distribution. A July equity partnership with D’Banj’s platform linked finance to talent development.
These commitments align with Oyelowo’s call for institutional support and could contribute to the institutional half of his plan. Analysts estimate that improved funding structures could unlock up to $15 billion in sector value by 2025.
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Government fund adds domestic support
The federal government’s N5 billion Creative Fund, managed by Providus Bank since December 2023, disbursed N1.5 billion in May 2024 to four producers. A second batch followed in June, with more applications undergoing review into 2025. The fund focuses on viable projects, a priority that aligns with Oyelowo’s focus on bankable content and accountability.
His comments reflected frustration with stalled financing discussions. “Afreximbank came to me and I don’t know where they went afterwards,” he said. Director Blessing Uzzi added that “financiers resist announcing funds that nobody ever gets”. The panel linked this to barriers in execution despite Nollywood producing about 2,500 films annually.
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Distribution at the centre of the strategy
Oyelowo’s model places distribution first, using FilmOne for African theatrical releases and MultiChoice for streaming. He said this approach mirrors the partnership-led structure that supported the global rise of Korean drama and could boost Nollywood’s export earnings.
He also noted Hollywood’s growing interest in African stories and urged Nigeria to position itself for this demand.
Prospects for investors
The plan offers a blended structure: $5 million institutional seed capital matched by private funds, with Oyelowo’s oversight on content development. Brookings has highlighted the potential of CANEX but stresses the need for improved disbursement processes. The Central Bank’s 2025 creative loans add further momentum.
If implemented, the proposal could support Nigeria’s ambition of becoming a creative hub capable of producing films that appeal to both local and international audiences.
