Valentine Okafor
Despite insinuations suggesting Netflix is exiting the Nigerian market, the global streaming giant has firmly denied these claims, insisting it will continue to invest in Nigerian content.
In a statement a Netflix spokesperson reaffirmed the company’s commitment to Nigeria, saying, “We are not exiting Nigeria. We will continue to invest in Nigerian stories to delight our audience.”
The spokesperson did not immediately address claims about canceled projects. Still, Wednesday’s conversation and social media reactions highlight growing uncertainty around Netflix’s long-term strategy in Nigeria, where rising inflation and currency devaluation have pressured consumer spending power.
Netflix has struggled to capture a large share of Nigeria’s competitive streaming market, which is dominated by the more affordable Showmax, a service operated by Multichoice. Netflix currently priced at at ₦7,000 ($4) per month—remains a luxury for many Nigerians, especially as inflation and naira devaluation erode purchasing power.
With local players continuing to outperform in pricing, Netflix’s ability to maintain its position in the region could become increasingly challenging.
Netflix’s relationship with Nigeria dates back to 2016 when it began licensing high-profile local films.
Since 2016, it has poured over $23 million into Nigeria’s film industry, backing over 250 locally licensed titles, co-productions, and original commissions. Lionheart, The Wedding Party 2, and King of Boys are some of its most recognisable titles. In 2020, the streaming service signed multi-title deals with prominent Nigerian producers like Mo Abudu’s EbonyLife Productions.
In 2021, it expanded its partnership with Kunle Afolayan, signing a deal for three films, including an adaptation of Sefi Atta’s Swallow
