Nollywood, the Nigerian movie industry has in recent years galloped ahead of Hollywood to be ranked second in the world in production terms after India's Bollywood. The industry grew quickly in the 1990s and 2000s to become the second largest film industry in the world in terms of the quantity of films produced annually, placing it ahead of the United States and behind only the Indian Cinema (Tamil Cinema, Telugu Cinema, Hindi Cinema,etc.). According to Hala Gorani and Jeff Koinange formerly of CNN, Nigeria has a US$250 million movie industry, creating some 200 videos for the home video market every month. Nigerian cinema is Africa's largest movie industry in terms of both value and the number of movies produced per year. And yet the Nigerian economy looses billions of Naira annually to piracy.
Only recently, some movie marketers, under the aegis of Yoruba Video Films Producers and Marketers (YVFPMA), Association of Nigeria, staged a protest against the flagrant piracy of movies in the popular Idumota Market, Lagos. To enforce this, the marketers stopped the further release of home videos of Yoruba genre into the market with effect from Monday, July 1. This was contained in a petition written by the marketers to the National Assembly. According to the General Secretary, YVFPMA, Mr. Tunji Ojetola, the petition is presently being considered on the floor of the National Assembly.
This scenario is not peculiar to the Yoruba movie industry alone, but is a reflection of the entire movie industry, including Kannywood (Hausa movie industry). In spite of the huge potentials of Nollywood, billions of naira is lost to untaxed income, annually. According to the statistics provided by the Nigerian Copyright Commission (NCC), Nigeria looses billions of Naira to piracy every year. This is really bleeding the industry and major players in the industry find it disturbing.
Not even the Federal Government’s $200 million “intervention” fund, made available to the industry in 2011, to help develop it, has been able to address the major issues bedeviling the industry. If these issues are not nipped in the bud, Nollywood will go extinct…HOW CAN WE PREVENT THIS FROM HAPPENING?
HOW CAN WE MAKE PROJECT NOLLYWOOD, A SUSTAINABLE ONE?

These figures you are quoting, how realistic are they? Something needs to be done about the non-availability of the originals....