By Taofiq Imam

Claim

Several Netizens have claimed that Netflix is leaving Nigeria after six years due to inflation and economic challenges under President Tinubu’s administration. Reports suggest the streaming giant, which has significantly boosted the Nigerian Nollywood industry by globalizing its creative works, is retreating from the country. 

Verdict

Misleading

Full Text

Since 2018, Netflix has played a pivotal role in showcasing Nollywood content to a global audience, becoming an essential platform for Nigerian filmmakers. However, recent speculation about Netflix’s exit was fueled by comments made by Nigerian filmmaker Kunle Afolayan during the 2024 Zuma International Film Festival. Afolayan claimed that Netflix had cancelled several commissioned projects from unnamed Nigerian filmmakers. Reflecting on his three-film deal with Netflix, Afolayan shared: “Three years ago, when we signed the three-film deal with Netflix, it was exciting. Despite the stellar performance of those movies globally, Netflix seemed unimpressed by their returns in Nigeria. Thank God we had shot seasons two and three because all the other people commissioned with us at the same time were cancelled.”

While Afolayan’s remarks have driven speculation, Netflix has denied any plans to exit the Nigerian market. 

Findings

Reports from multiple publications suggested Netflix’s withdrawal, citing Nigeria’s rising inflation and currency devaluation, which have strained consumer spending power. Although other streaming platforms, such as Amazon Prime Video, exited Nigeria in January 2024 after just a year of operations, Netflix has maintained its presence. 
A Netflix spokesperson reaffirmed the company’s commitment, stating: 
“We are not exiting Nigeria. We will continue to invest in Nigerian stories to delight our audience.” 
The spokesperson did not directly address the claims of cancelled projects, but the growing uncertainty around Netflix’s strategy in Nigeria has sparked conversations on social media. 

Conclusion
The claims that Netflix is exiting Nigeria after six Years have been thoroughly investigated and are found misleading

Taofiq Imam is a journalist, he is currently a Nextgen intern journalist at Confidence News Ng under Campus Reporter