Nollywood (the Nigerian film industry) now eclipses Hollywood (the American film industry) and Bollywood (the Indian film industry) as the world’s most prolific maker of films. According to figures from Nigeria’s National Film & Video Censors Board (NFVCB), Nigeria’s film and video industry regulator, more than 1,500 feature films were shot in that country in 2007. That’s at least 400 films more than the number shot in India and almost three times as many as filmed in the United States.

This is great news for Nigerians. Their film industry produces romances, gangster flicks and crime dramas that continue their celebrated, centuries-old tradition of storytelling in a new medium. And, as an important benefit, film and video generate more than $250 million a year in revenue. That’s comparable to the nation’s cocoa processing industry.

While $250 million is an impressive figure, the number could be higher, much higher. Intellectual property piracy runs rampant in Nigeria, and the overwhelming majority of films and videos produced there are bootlegged. I’ve heard from Nollywood insiders that they fear a piracy rate of more than 90 percent. Nollywood films have a significantly different distribution system than American, European or Asian films. Films bypass theaters and go directly to DVD. They are produced primarily for in-home viewing. This, coupled with widespread corruption, is the perfect breeding ground for costly intellectual property infringements. How much money could Nollywood generate if its industry wasn’t being constantly hijacked?

I spoke with Geoffrey Onyeama, assistant director-general of the World Intellectual Property Organization and a Nigerian national, about this problem years ago. I more recently read an article in the Nigerian newspaper THISDAY that Onyeama is still fighting to raise awareness of intellectual property protection in his native country, not only for the film industry, but also in the pharmaceutical, research and cultural sectors.

“Nigeria has vast opportunities to diversify its economy,” said Onyeama. “Nigeria’s strategy should be to increase our intellectual property assets by strengthening the necessary institutions, giving them the autonomy to operate and enacting legislation to achieve these objectives.”