Singaporean, Nigerian firms seal ‘$4.5bn’ deal to build Lagos film city

TSC Global, Singaporean firm, and Nigeria’s Del-York group have sealed a deal to build the Lagos film city.

The signing ceremony was held in Singapore and attended virtually by Babajide Sanwo-Olu, Lagos governor.

The project, believed to be estimated at $4.5 billion, aims to position Lagos as “Africa’s premier creative capital” while creating opportunities for youth.

Sanwo-Olu expressed excitement about the project, stating that it embodies the state’s vision for creative excellence and technological innovation.

The governor also appreciated President Bola Tinubu for facilitating the partnership.

“Lagos Film City (Kebulania) represents Lagos State’s vision for creative excellence and technological innovation,” he said.

“This investment will transform our creative landscape while creating groundbreaking opportunities for our talented youth.

“This development demonstrates our commitment to positioning Lagos as Africa’s premier creative capital.”

On his part, Linus Idahosa, CEO of Del-York Group who is also the lead developer, said the film city is more than just a project but a platform to empower African creators and innovators.

“Today marks Africa’s emphatic entry into global creative and technological leadership,” Idahosa said.

“Kebulania stands as a testament to what is possible when visionary leadership at both national and state levels creates an enabling environment for transformative investments.

“With the unwavering support of the Lagos State Government, alongside our partners, we are building more than an infrastructure – we are creating a legacy that will empower generations of African creators and innovators.”

Michael Dickerson, CEO of TSC Global, also revealed the project is expected to create 10,000 direct jobs and 25,000 indirect employment opportunities.

Dickerson added that there will be 50,000 training positions.

“Our $4.5 billion joint venture bridges Africa and the world, creating unparalleled opportunities for creative and technological collaboration between continents,” he said.

“Together with the Del-York Group, we are creating a new model for creative industry development that will resonate globally.”

A ceremony was held last year for what is described as “the first-of-its-kind entertainment ecosystem” at the Epe site.

Architectural work will begin in early 2025, followed by construction in the second quarter.

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