Singaporean, Nigerian Firms Seal $4.5bn Deal To Build Film City

In a groundbreaking move for Africa’s creative and tech industries, TSC Global, a Singapore-based company, and Nigeria’s Del-York Group have entered into a historic joint venture valued at $4.5 billion.

This partnership, which represents the largest investment in Africa’s creative sector, will see the development of the Lagos Film City (Kebulania), a state-of-the-art facility set to position Lagos as a leading global hub for film, media, and technology.

The signing ceremony, held in Singapore and virtually attended by Lagos State Governor, His Excellency Babajide Sanwo-Olu, marks a major milestone in Nigeria’s creative industry. Governor Sanwo-Olu expressed that the project aligns with Lagos State’s vision of fostering creative excellence and technological innovation, stating: “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.” He also acknowledged the leadership of Nigerian President Bola Tinubu and the state’s Creative Industry Policy for facilitating this partnership.

Under the terms of the agreement, TSC Global will contribute its expertise in sustainable, high-performance technical infrastructure, an area in which the company has a global reputation. Mr. Linus Idahosa, Chief Executive Officer (CEO) of Del-York Group, will serve as the lead developer of the project, focusing on building ecosystems that will strengthen Africa’s creative industry.

The partnership follows a Memorandum of Understanding (MoU) signed with the Lagos State Government in 2022, and a groundbreaking ceremony held last year at the proposed site in Epe, Lagos. Architectural work for the project is set to begin in early 2025, with construction expected to start in the second quarter of the year.

Mr. Idahosa, speaking at the signing ceremony, emphasised the significance of the project, stating: “Today marks Africa’s emphatic entry into global creative and technological leadership. 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.” He stated that the project is about more than just infrastructure; it is about creating a lasting legacy that will empower generations of African creators and innovators.

Mr. Michael Dickerson, CEO of TSC Global, highlighted the project’s strategic importance, noting: “Our $4.5 billion joint venture bridges Africa and the world, creating unparalleled opportunities for creative and technological collaboration between continents. Together with the Del-York Group, we are creating a new model for creative industry development that will resonate globally.”

The Kebulania project is expected to generate more than 10,000 direct jobs and 25,000 indirect employment opportunities, contributing over $3.5 billion annually to Nigeria’s creative economy. It will also provide 50,000 training positions and enhance foreign exchange earnings through international film and media productions. This investment is poised to transform Lagos into a world-class creative hub, benefiting not only Nigeria but the entire African continent.