Nollywood May Quit YouTube Before 2026 Ends If Naira Strengthens Against Dollar, Kunle Afolayan Warns
Lagos — Nollywood producers currently riding the wave of YouTube monetisation may abandon the platform altogether if the Naira records a significant appreciation against the U.S. Dollar, award-winning filmmaker Kunle Afolayan has warned.
The filmmaker, known for critically acclaimed titles such as “Anikulapo” and “The CEO,” made this submission during a candid conversation with former Minister of Finance, Kemi Adeosun, on the Nidacity Podcast. The discussion centred on the growing wave of Nollywood practitioners turning to digital and self-distribution platforms in recent years, a shift that has redefined how films are funded, released, and monetised in the industry.
Speaking on the subject, Afolayan explained that the current rush toward YouTube is not purely a creative or strategic choice, but one heavily influenced by currency dynamics. He noted that many filmmakers who now see the platform as a viable revenue channel are being driven largely by the weak exchange rate, which inflates their earnings when converted from dollars to Naira.
“YouTube can never give you what Netflix and Prime will give you, right? Never. But it’s the most flexible. It’s for everyone. It’s like a starting point,” Afolayan said, weighing the platform’s accessibility against the more lucrative, but far more selective, opportunities offered by global streaming giants.
He explained further that YouTube’s open-door structure makes it particularly attractive to filmmakers without the industry connections or negotiating leverage required to strike deals with major streamers. “If you don’t have the strength to negotiate or if you don’t have access to the big players, then you just make your film, open an account, and put it there. If people watch it, you make your money,” he said.
However, the filmmaker was quick to caution that this current enthusiasm is built on a fragile foundation, one that could crumble the moment the Naira begins to strengthen. According to him, the eye-catching earnings many creators now boast about are less a reflection of genuine platform value and more a product of favourable exchange rates.
“But look, the reason why people now will say, ‘I’ve hit a million views, I get $10,000,’ is because of the exchange rate. If dollar drops, everybody will run away from YouTube,” he stated bluntly, adding that the platform’s appeal would diminish sharply once the currency gap narrows.
Driving home his point, Afolayan projected that a scenario where the exchange rate falls to around N200 to the Dollar could trigger a mass exodus from the platform. “So the attraction right now is the exchange rate because that’s what’s making it more profitable than it possibly is. So, if dollar comes to, say, N200 to $1, people will leave,” he said.
Despite this warning, the filmmaker acknowledged YouTube’s important role as a launchpad for emerging and independent filmmakers who may not yet have the resources or industry clout to secure deals with established streaming platforms. He noted that such producers can bypass traditional gatekeeping structures entirely, uploading their projects directly to the platform and earning based on audience viewership, a model that has opened doors for a wider, more diverse pool of storytellers across the country.
Afolayan’s comments add to an ongoing conversation within Nollywood about the sustainability of YouTube-driven revenue models, particularly as the industry continues to grapple with the broader economic pressures shaping Nigeria’s creative and production landscape.
