This announcement was made during a press conference held at the Government House, Marina, Lagos, in anticipation of the 12th African International Film Festival (AFRIFF).

The governor noted that the primary goal of this project is to boost creativity and original content creation within Nollywood, Nigeria's vibrant film industry.

In October 2022, the state government had previously announced the signing of a Memorandum of Understanding (MoU) with the Del-York Group for the construction of this significant project.