This is the current phase in Nigerian cinema. It is defined by a major shift in the method of film production, from the home video format, back to the cinema method, which constituted the films produced in the Golden Era.
The Silverbird Group is the first company to launch a series of modern cinema houses across major cities in Nigeria. Not long after the establishment of Silverbird Cinemas, Genesis Deluxe Cinemas, Ozone Cinemas, and Filmhouse Cinemas were also launched, creating competition in the cinema business.
The first New Wave film to be shown at a cinema was the Yoruba-language film Irapada (2006) by Kunle Afolayan. Several grants were also launched by the Nigerian Government, in order to support quality content in Nigerian films.