Femi Adebayo says he didn’t spend ₦40bn on his Euphoria 360 hub

Femi Adebayo says his Euphoria 360 Hub did not cost ₦40bn. The Nollywood actor and producer told TVC Entertainment, in a clip shared on X on Saturday, 10 October 2026, that the figure people had repeated since his Lagos studio opened was wrong.

“Euphoria 360 is a dream I’ve always wanted to achieve in a south west state in Nigeria,” he says in the clip. Then: “No, I didn’t spend up to 40 billion like people have been saying.” He did not say what the building did cost.

So where did ₦40bn come from? GistMatrix followed the number back through the week. Nobody with a receipt ever said it.

How did Femi Adebayo’s Euphoria 360 Hub get a ₦40bn price tag?

The ₦40bn figure began as an online estimate, not as a statement from Adebayo or his company. P.M. News reported on Thursday, 8 October that an X user, @Usmanashafe, had posted that the studio was worth 40 billion naira and called it a great investment.

The same number sat in Pulse Nigeria’s headline on the night of the launch, Tuesday, 6 October. The report under it gave no cost and named no source for one. Adebayo’s first answer, on X on Wednesday, 7 October, was pure disbelief: “Valued at what?? What ?? How ? When, where ? Wow!” (Legit.ng, P.M. News).

What has Femi Adebayo actually said about the cost?

The claim: the hub cost, or is worth, ₦40bn. It came from posts on X and a Pulse Nigeria headline on 6 October. Neither Adebayo nor Euphoria360 Media has confirmed it.

What he said: he did not spend “up to 40 billion” (TVC Entertainment clip, shared on X at 4:55pm WAT on 10 October).

What he has not said: the real figure. As of 2:40pm WAT on Sunday, 11 October, neither Adebayo’s X account nor the hub’s had posted one.

What is inside the Euphoria 360 Hub in Oregun?

The hub holds production studios, two cinema rooms, post-production suites and a film academy, and it is the new headquarters of Adebayo’s company, Euphoria360 Media Ltd. A video tour reported by Arise News showed a 568-square-metre studio named after his father, Adebayo Salami, a second studio of 385 square metres, a podcast room, an editing studio, a Foley and sound room and a 9.1.6 Dolby Atmos set-up.

Lagos State Deputy Governor Obafemi Hamzat commissioned it. Odunlade Adekola, Kunle Afolayan, Richard Mofe-Damijo, Dele Odule and Yemi Sodimu were in the room, according to Galaxy TV and the News Agency of Nigeria. Salami, the veteran actor known as Oga Bello, told NAN he was “deeply proud of my son”. The place was already working before the ribbon: Davido shot his “B4 B4” video there with Mayorkun and FOLA, Pulse Nigeria and Arise News reported.

How did we get here?

• 2022 to 2024: Euphoria360 Media makes King of Thieves (2022), Jagun Jagun (2023, on Netflix) and Seven Doors (2024).
• Tuesday, 6 October 2026: Hamzat commissions the hub in Oregun. That night, Pulse Nigeria’s headline calls it a ₦40bn hub.
• Wednesday, 7 October: @Euphoria360hub pins a video on X: “We are open for business guys.” Adebayo answers a ₦40bn valuation post with “Valued at what??”
• Saturday, 10 October, 4:55pm WAT: his TVC Entertainment answer, “No, I didn’t spend up to 40 billion”, is shared on X.
• Sunday, 11 October: the hub says registration for its free filmmaking masterclass has closed because it is full (Legit.ng).

When GistMatrix checked at about 2:40pm WAT on Sunday, the hub’s pinned “open for business” video had about 47,000 views, and Adebayo’s own account, @realfemiadebayo, had 181,000 followers. His pinned post there still sells tickets for Agesinkole: King of Thieves 2, posted on 14 December 2025.

What happens next

The hub’s free filmmaking masterclass runs from Thursday, 29 October to Saturday, 31 October 2026, with registration already closed. As of 2:40pm WAT on 11 October, Adebayo had not given a cost for the building.

FAQ

Where is Femi Adebayo’s Euphoria 360 Hub?
In Oregun, Ikeja, Lagos. It is the headquarters of his production company, Euphoria360 Media Ltd.

Did Femi Adebayo spend ₦40bn on Euphoria 360?
He says no. In a TVC Entertainment clip shared on 10 October 2026 he said he did not spend “up to 40 billion”, but he has not given the real cost.

What has Euphoria360 Media produced?
King of Thieves (2022), Jagun Jagun (2023), which is on Netflix, and Seven Doors (2024).

Would you book a shoot or a masterclass at Euphoria 360? Tell us in the comments.

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