The Museum of West African Art (MOWAA) has published its 2025 annual report and audited financial statements, revealing the total cost of building and equipping its MOWAA Institute in Benin City, Edo State. The institute's construction and equipment cost N22.26 billion, with the Edo State Government contributing N3.95 billion in cash. This disclosure comes amid public statements concerning the cost of the institute and the extent of Edo State Government's support.
According to the audited report, MOWAA recorded total revenue of N14.011 billion in 2025, compared with N12.530 billion in 2024. The organisation's total expenditure stood at N5.358 billion, resulting in a surplus of N8.653 billion. MOWAA's revenue comprised N7.908 billion in donations, N5.985 billion in grants, and N117.697 million in other revenue, with donations and grants accounting for about 99 per cent of reported revenue.
The Edo State Government's N3.95 billion cash donation comprised N3.8 billion for civil and mechanical works for the institute and an earlier N150 million for pre-construction activities for the wider campus. The state also supported the institution through land allocation and by helping to create an enabling environment for its establishment in Benin City. MOWAA noted that the state's cash contribution represented approximately 10.4 per cent of the about N38 billion raised from inception to December 31, 2025.
MOWAA stated that the N3.95 billion contribution was equivalent to 17.7 per cent of the N22.26 billion cost of the institute. The organisation emphasised that the state's contribution was important and valued, but also made clear that the state provided some, but not all, of the funding for the Institute and did not fund MOWAA as a whole. The accounts were audited by Ernst & Young, which issued an unmodified opinion for the year ended December 31, 2025.
The institute, which opened in November 2025, serves as an archive, research and education centre supporting archaeology, materials research, conservation and learning. MOWAA reported total assets of N22.611 billion as of December 31, 2025, including N19.887 billion in property and equipment. Work in progress accounted for N18.058 billion. The organisation had engaged 87 people through direct employment and consultancy roles in 2025.
MOWAA disclosed that it had spent N133.173 million on education and community programmes. The organisation also announced that it had paused further construction on the wider campus until outstanding matters were resolved. However, this pause would not affect the operations of the institute or its research, conservation, education and public-interest activities.
MOWAA said it would continue engaging relevant stakeholders to establish a stable basis for its long-term work in Benin City. The organisation's Director, Finance and Administration, Kingsley Odigie, signed the statement. The publication of the audit report aims to provide transparency and clarity on the funding of the MOWAA Institute.
Key points
- The Museum of West African Art's Institute in Benin City, Edo State, cost N22.26 billion to build and equip.
- The Edo State Government contributed N3.95 billion in cash, representing 17.7 per cent of the institute's cost.
- MOWAA recorded a surplus of N8.653 billion in 2025, with total revenue of N14.011 billion and total expenditure of N5.358 billion.
