Golden Age or Golden era are terms used in Nigerian film history to designate the motion picture industry of Nigeria from the late 1950s to the late 1980s. It captures the mode of visual and sound production, as well as the method of distribution employed during this period. This period began with the formal recognition of the Nigerian Film Unit as a sector in 1954, with the first film entirely copyrighted to this unit being Fincho (1957) by Sam Zebba.

After Nigeria's independence in 1960, the cinema business rapidly expanded, with new cinema houses being established. As a result, Nigerian content in theatres increased from the late 1960s into the 1970s, especially productions from Western Nigeria, owing to former theatre practitioners such as Hubert Ogunde and Moses Olaiya transitioning into the big screen. In 1972, the Indigenization Decree was issued by Yakubu Gowon, which demanded the transfer of ownership of about a total of 300 film theatres from their foreign owners to Nigerians, which resulted in more Nigerians playing active roles in the cinema and film.

The oil boom of 1973 through 1978 also contributed immensely to the spontaneous boost of the cinema culture in Nigeria, as the improved economic situation allowed many citizens to have disposable income to spend on cinema and home television sets. After several moderately successful films, Papa Ajasco (1984) by Wale Adenuga became one of the first Nigerian Blockbusters, reportedly grossing about ₦61,000 (approx. 2015 ₦21.5 million) in three days. A year later, Mosebolatan (1985) by Moses Olaiya also grossed ₦107,000 (approx. 2015 ₦44.2 million) in five days. The 1980s was also a period of major boom in the television industry, with several books from notable authors being adapted into television series. Many of these television productions were later released on video. As a result, a small scale informal video trade developed, which led to the emergence of the Video boom in the 1990s.

The Golden Age began to face a major decline in the late 1980s. This decline has been attributed to several factors, including the reduction in the value of Naira, lack of finance and marketing support, lack of standard film studios and production equipment, frequent Government structural adjustment programmes due to military dictatorships, as well as inexperience on the part of practitioners. It is also generally believed by stakeholders that the decline in this era was due to negligence as a result of the oil boom, which affected other sectors of the Nigerian economy as well. It has also been noted to be a result of an increase in the ownership of television sets across the country: the films produced during this era usually screened over a single weekend and were released on video the following week. It no longer made sense to visit the theatres, and most families preferred to wait a few days to get their hands on the VHS copies. In the early 1990s, only a few of the once vibrant cinema houses were still in operation, and all had collapsed before 1999. However, as of 2009, an emerging movement in the film industry is rapidly reviving the cinema culture of Nigerians once again.

In 1954, before Nigeria's independence, the Nigerian film industry became formally recognized as a sector and was grouped as a unit in the information department of the then Ministry of Information. This unit was a re-organized local unit, which united the broader term 'Nigerian Film Unit' which had been established in 1949; the function of this film unit was to produce documentary films and newsreels on local events of great importance, leading to the dominance of educative films in Nigerian theatres in the late 1950s As at 1954, mobile cinema vans played to at least 3.5 million people in Nigeria, and films being produced by the Nigerian Film Unit were screened for free at the 44 available cinemas. The first film entirely copyrighted to this unit is Fincho (1957) by Sam Zebba; Fincho is also known as the first Nigerian film to be shot in colour.

After Nigeria gained independence in 1960, the cinema business rapidly expanded, with new cinema houses being established. However, there came a significant influx of American, Indian, Chinese and Japanese films; posters of films from these countries were all over theatre halls and actors from these industries became very popular in Nigeria. It was reported that Nigerian kids began to know more on "travails of American Indians than they did about the Wole Soyinka-led Mbari Mbayo cultural group, or the socio-cultural history of Nigeria". However, in the late 1960s and into the 1970s, Nigerian productions in theatres increased gradually, especially productions from Western Nigeria; this was basically due to former theatre practitioners such as Hubert Ogunde, Moses Olaiya, Jab Adu, Isola Ogunsola, Ladi Ladebo, Sanya Dosumu and Sadiq Balewa amongst others, who transitioned into the big screen. Latola Films, which started the production of motion pictures since 1962, has often been noted as the earliest Nigerian indigenous film production company. Television broadcasting in Nigeria also began in the 1960s and received much government support in its early years.

In 1972, concerned about the influx of foreign culture into Nigeria, the Indigenization Decree was issued by the then head of state Yakubu Gowon; which demands the transfer of ownership of about a total of 300 film theatres in the country from their foreign owners to Nigerians. Also, more Nigerians started playing active roles in cinema establishment; notable examples of this include: Metro cinema and Rivoli Cinema, which was owned by Chief Lisabi, and Danjuma Cinema by Alhaji Danjuma. This transfer also resulted in the emergence of Nigerian playwrights, screenwriters and film producers; popular literature and theatre works were adapted into motion picture. One of the most popular film people in this new wave was Hubert Ogunde, mainly because he promoted indigenous Nigerian language, arts and culture through his works.

The oil boom of 1973 through 1978 contributed immensely to the spontaneous boost of the cinema culture in Nigeria. The presence of foreign investments led to the erection of several cinema complexes. In 1976, The 5000-capacity National Arts Theatre, Iganmu was constructed in Lagos. The theatre was incorporated with two cinemas, each having a capacity of over 700 people. At this time cinema business had become a notable employer of many people and also served as an important social function, as Nigerians visited cinemas for relaxation and entertainment purposes. The increased purchasing power in Nigeria also made a wide range of citizens to have extra money to spend on cinema going and on home television sets.