The BON or Best of Nollywood awards is Nigeria's version of the Oscars. The BON awards the country's top talents and recognizes the growth of Africa's largest movie industry. Now let's take a closer look at some of the winners.

The movie "Two Brides and a Baby" produced by Blessing Egbe, won the movie of the year and also best sound track. It's due to be released in cinemas in Nigeria on November 25th.

According to UNESCO Institute for Statistics, Nigeria ranks second in the world after India's Bollywood with the number of video movies produced per year, overtaking America's Hollywood. But Nollywood productions have long been criticized for their poor audio and picture quality and lack of direction.

Early this year, Nigerian movies were outshined by features from Congo, Ghana and South Africa at the Africa Academy Movie Awards held in the Niger Delta. Top Nigerian actors and actresses also did not win any awards.

Nollywood producers and directors say they have been forced to go back to the drawing board and reinvent the industry's image.

Chelsea Eze, Nollywood actress, said, "We are growing and we getting better each day, a lot of good movies coming up, a lot of brilliant producers, directors, actors and actresses, so I mean it is a growing industry and we are doing quite well I must say."

Some industry players are eyeing wider recognition, with several locally produced films being released for foreign audiences.

Susan Peters, actress, said, "We are crossing the line, going the extra mile, going abroad, so we actually shoot movies not only for Nollywood now, we shoot movies for Hollywood and we hope in the future we get to be nominated for Oscars and you know, other awards."

Experts say, Nollywood employs so many young people and its expansion would mean more jobs for Nigerians.