MOWAA Publishes Audited Accounts, Puts Institute Cost at N22.26bn
Oluchi Chibuzor The Museum of West African Art (MOWAA) has disclosed that the total cost of building and equipping its Institute in Benin City was N22.26 billion, with the Edo
The Museum of West African Art (MOWAA) has announced the completion of its Institute in Benin City, with the total cost of building and equipping the facility reaching N22.26 billion. The Edo State Government contributed N3.95 billion in cash towards the project. According to MOWAA's 2025 annual report and audited financial statements, the organization recorded revenue of N14.011 billion in 2025, compared to N12.530 billion in 2024, while total expenditure amounted to N5.358 billion.
This resulted in a surplus of N8.653 billion for the year. As of December 31, 2025, MOWAA's total assets stood at N22.611 billion, with N19.887 billion in property and equipment. The majority of MOWAA's funding base remains philanthropic, with donations accounting for N7.908 billion, grants accounting for N5.985 billion and other revenue accounting for N117.697 million.
The Edo State Government's N3.95 billion cash contribution made up approximately 17.7% of the Institute's cost.
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