Premier and Minister of Finance Dr. the Hon. Natalio Wheatley has made it clear that no additional funds will be provided to YOLO Promotions if their highly anticipated Vybz Kartel show, scheduled for March 2025, does not meet expectations.
Speaking during an interview on JTV’s Big Story on Monday, October 14, the premier addressed growing public concerns following the revelation that his government approved $220,000 in sponsorship to assist YOLO Promotions with their upcoming event.
During the interview, Premier Wheatley defended the decision, expressing confidence in YOLO Promotions’ ability to successfully host the concert, citing the promoter’s years of experience in the industry.
He also clarified rumours about the sponsorship amount, stating that the $220,000 was not even close to half of what it costs to secure the performance of the Jamaican dancehall icon. He described the amount as “a drop in the bucket” compared to the overall cost of hosting such a major event.
Despite public outcry suggesting that the funds could have been allocated to other pressing societal issues, Wheatley affirmed that investing in the BVI’s tourism product is crucial and noted that the funds came from the tourism budget and not from other essential areas of government spending.
He also explained that similar investments had been made in the past, referencing the successful Buju Banton concert, which drew a massive crowd and generated substantial economic activity for the territory. Wheatley believes the Vybz Kartel show could replicate that success.
Regarding concerns about how the government will recoup its investment, Premier Wheatley explained that the return will come through taxes and other economic activities generated by the event.