Veteran film producer, Wale Adenuga has said that the Nigerian film industry is not profitable for its practitioners- actors and actresses as many of them now rely on sugar daddies and mummies to make end meet.
The Chairman of Pefti Film Institute revealed this over the weekend at Ibadan outside Lagos while speaking to the press at the occasion of opening of Ibadan branch of Pefti Film Institute.
Adenuga however, acknowledged that the Federal government of Nigeria has done its best filmmaking loans provided for the industry. He called for the total overhaul of the Nigerian film sector.
The series producer further revealed that many Nollywood actors and actresses who are seen living flashy lifestyle are only able to do so through the patronage of sugar daddies and sugar mummies.
“Many of them lift themselves by using sugar daddies and sugar mummies,” said Adenuga.
He cntinued; “Many people are oblivious of the fact that many of the young Nollywood actors and actresses who live flamboyant lifestyles make their money outside film making. They make people believe everything is alright in the film making.
“You see them building big houses, living in affluence, but their source of money is beyond making the film.”
Adenuga believed part of the problem of the industry is lack of organised association who can efficiently manage the activities of actors and filmmakers.
“Although the average Nigerian may find this shocking but Nollywood is the only industry with no organised association to govern the activities of actors and moviemakers in the industry,” the film producer lamented.