By Balogun Tumininu
Contrary to recent reports suggesting that Netflix is exiting the Nigerian market, the global streaming giant has categorically denied these claims. In a statement to TechCabal, a Netflix spokesperson reaffirmed the company’s commitment to Nigeria, stating, “We are not exiting Nigeria. We will continue to invest in Nigerian stories to delight our audience.”
The rumors of Netflix’s exit were fueled by comments from Nigerian filmmaker Kunle Afolayan, who claimed that the streaming platform had canceled several films it had previously commissioned from unnamed filmmakers. However, Afolayan did not explicitly state that Netflix was exiting the Nigerian market.
Netflix’s denial comes amid growing uncertainty about the company’s long-term strategy in Nigeria, where rising inflation and currency devaluation have pressured consumer spending power. The streaming platform has struggled to capture a large share of Nigeria’s competitive streaming market, which is dominated by the more affordable Showmax.
Despite these challenges, Netflix has a long history of investing in Nigerian content. Since 2016, the company has poured over $23 million into Nigeria’s film industry, backing over 250 locally licensed titles, co-productions, and original commissions. Netflix’s commitment to Nigerian storytelling remains unchanged, and the company is expected to continue investing in local content.