Museum of West African Art publishes 2025 audited accounts

The Museum of West African Art (MOWAA) has released its 2025 audited financial statements, addressing public discussions regarding the cost of its institute in Benin City and the level of support from the Edo State Government.

MOWAA reported that the total cost to develop and equip the MOWAA Institute was N22.26 billion. The Edo State Government contributed N3.95 billion in cash, which accounts for 17.7 percent of the institute's specific costs. This contribution included N3.8 billion for civil and mechanical works and N150 million for pre-construction activities. The state also provided land and other non-cash support.

In the context of the organization's broader institutional program and full campus development, MOWAA has raised approximately N38 billion since its inception. The state's cash contribution represents roughly 10.4 percent of the total funds raised for the wider program.

Audited by Ernst & Young (EY), the 2025 accounts received an unmodified opinion. MOWAA reported a total revenue of N14.01 billion, an increase from N12.53 billion in 2024, with total expenditures of N5.36 billion, resulting in a surplus of N8.65 billion. Revenue was primarily driven by donations (N7.91 billion) and grants (N5.99 billion).