The Museum of West African Art (MOWAA) has published its 2025 audited financial statements, revealing that the Edo State Government contributed N3.95 billion, representing 17.7 percent of the N22.26 billion cost of developing and equipping its institute in Benin City. This disclosure comes amid public discussions over the cost of the MOWAA Institute and the extent of the Edo State Government's financial support.
According to MOWAA, the institute's total cost included various components such as civil works, mechanical and electrical systems, fit-out, lighting, specialist research and conservation equipment, storage, professional services, and foreign-exchange variations during construction. The organisation clarified that the approximately N4.1 billion figure referenced in public discussions represented an early bill of quantities for the first phase of civil construction and did not cover the full cost of the facility.
MOWAA disclosed that Edo State provided N3.8 billion towards the civil and mechanical works for the Institute and an earlier N150 million for pre-construction activities relating to the wider campus. The State also provided land and other non-cash support. MOWAA emphasised that Edo State's N3.95 billion cash donation was important and valued, adding that the figures showed that the State provided "some, but not all, of the funding for the Institute and did not fund MOWAA as a whole."
The organisation reported that it had raised approximately N38 billion from its inception to December 31, 2025, for its full campus and wider institutional programme. This makes Edo State's cash contribution about 10.4 percent of funds raised. MOWAA's 2025 accounts, audited by Ernst & Young (EY), received an unmodified opinion. The accounts provide a comprehensive overview of MOWAA's financial situation and activities during 2025.
In 2025, MOWAA reported revenue of N14.01 billion, up from N12.53 billion in 2024, while total expenditure stood at N5.36 billion. This resulted in a surplus of N8.65 billion. Donations accounted for N7.91 billion of revenue, while grants contributed N5.99 billion. Together, donations and grants represented about 99 percent of total revenue. These figures demonstrate MOWAA's reliance on external funding.
At year-end, MOWAA reported total assets of N22.61 billion, including N19.89 billion in property and equipment. Work in progress accounted for N18.06 billion of property and equipment. The institution engaged 87 people through direct employment and consultancy roles during 2025, while N133.17 million was spent on education and community programmes. MOWAA's activities are focused on promoting West African art and culture.
The MOWAA Institute, which opened in November 2025, is designed as a research, conservation and heritage-management facility supporting work on West African art and culture. MOWAA has now paused further construction on the wider campus pending resolution of outstanding matters, but stressed that the pause would not affect operations at the Institute. The organisation remains committed to engagement with the Edo State Government, the Benin Royal Palace and other stakeholders.
Key points
- Edo State Government contributed 17.7% of the MOWAA Institute's cost.
- MOWAA raised approximately N38 billion from its inception to December 31, 2025.
- The MOWAA Institute opened in November 2025.
