Marking a major milestone for the creative and tech industries for Africa, Singapore-based TSC Global and Del York from Nigeria have recently signed a $4.5 billion joint venture agreement. This agreement will foresee the construction of the Lagos Film City (Kebulania). This is undoubtedly the largest investment in Africa’s creative sector up to date.
The signing ceremony took place in Singapore and was attended virtually by the Lagos State Governor Babajide Sanwo-Olu. This agreement signed will foresee the development of the Lagos Film City (Kebulania). This ambitious project is poised to position Lagos as a global hub for film, media, and technology.
What is the Lagos Film City Project?
The Lagos Film City project also known as Kebulania is an ambitious project that will foresee the establishment of a world class production hub in the country. This project is expected to turn Lagos into one global centre for film, media, and even technology.
This Film city project will be located in Epe. It will cover a land area of 100 hectares. Additionally, this project will comprise of cutting-edge post-production facilities and even meticulously crafted movie sets. Moreover, it will also have a contemporary theme park and quite a number of educational institutions.
“The Lagos Film City (Kebulania) is an indication of the vision State of Lagos for both creative excellence and technological innovation,” Sanwo-Olu commented.
Key Timelines Regarding the Project
A memorandum of understanding of the Lagos Film City project was signed with the Lagos State government in the year 2022. Additionally, a ground-breaking ceremony for this ambitious project was held at the Epe site in 2023. The architectural works of the project are expected to kick off in early 2025, which will be then followed by construction in the second quarter.
Significance of the Project
The Lago Film City project is expected to generate more than 10,000 direct jobs and also a total of 25,000 indirect opportunities. This is set to contribute over $3.5 billion every year to the creative economy of Nigeria.
Furthermore, it is expected to offer up to 50,000 training positions. It will even boost the foreign exchange income through both international film and media production.
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