Nigeria has scored a historic win for its creative industry as Singapore’s TSC Global and Nigeria’s Del-York Group signed a $4.5 billion agreement to build Lagos Film City, known as Kebulania.
The signing ceremony, which took place in Singapore, was attended virtually by Lagos State Governor, Babajide Sanwo-Olu.
The Lagos Film City project is being celebrated as the largest investment in Africa’s creative sector.
Sanwo-Olu described the initiative as a turning point for Lagos and Nigeria.
“This investment will transform our creative landscape,” the governor said.
He praised Nigeria’s President, Bola Tinubu, for his leadership and the state’s Creative Industry Policy, which helped secure the partnership.
Lagos Film City is designed to position Lagos as a global hub for film, media, and technology.
The project is expected to revolutionise the Nigerian film industry and create a ripple effect across Africa’s creative sector.
“This development demonstrates our commitment to positioning Lagos as Africa’s premier creative capital,” Sanwo-Olu added.
Linus Idahosa, the CEO of Del-York Group, emphasised the transformative impact of the project.
“Kebulania stands as a testament to what is possible when visionary leadership creates an enabling environment,” Idahosa stated.
TSC Global, a global leader in sustainable technical infrastructure, will handle the technical aspects of the project.
The Lagos State Government had signed a Memorandum of Understanding (MoU) with Del-York Group in 2022, followed by a groundbreaking ceremony at the Epe site.
Construction is set to begin in the second quarter of 2025 after architectural work starts in early 2025.
Michael Dickerson, the CEO of TSC Global, described the venture as a strategic bridge between Africa and the rest of the world.
“Our $4.5 billion joint venture creates unparalleled opportunities for creative and technological collaboration,” Dickerson said.
A Boost for Nigeria’s Youth and Economy
The Lagos Film City project is projected to generate over 10,000 direct jobs and 25,000 indirect employment opportunities.
It will also create 50,000 training slots for young Nigerians, boosting skills development in the creative and tech industries.
“This project will empower generations of African creators and innovators,” Idahosa said.
The economic impact is expected to be significant, contributing more than $3.5 billion annually to Nigeria’s creative economy.
Foreign exchange earnings are also set to increase through international film and media productions.
Experts say the Kebulania project could redefine Nigeria’s global standing in the creative industry.
It will establish Lagos as a destination for global film and technology collaborations.
The project aligns with the government’s vision to make Lagos a world-class city for innovation and creativity.
Despite the ambitious plans, not everyone is convinced.
Some Nigerians have expressed doubts about the project’s feasibility.
One commentator said, “We all know this is impossible. Nigeria and corporate schemes are often unreliable.”
However, supporters of the initiative argue that with strong leadership and partnerships, the project is achievable.
“This is not just infrastructure; it is a legacy,” Idahosa responded to the scepticism.
