The Federal government of Nigeria has handed over the the National Theatre to the Central Bank Nigeria (CBN) Bankers’ Committee for rehabilitation.
Included in the handover is a comprehensive plan for the rehabilitation.
Debunking fears that the handover would amount to job losses, the Minister of Information and Cultural, Lai Muhammed said it would rather create more jobs on completion. The monumental structure will be renovated alongside adjoining land.
Sunday Dare, Minister of Youths and Sports is optimistic that the creative industry will get a major boost in the areas of job creation, talent discovery and revenue generation.
CBN governor, Godwin Emefiele reassured stakeholders that the National Theatre structure will be transformed into a world class edifice.
He added that it is heart-warming that the federal government has undertaken the diversification of revenue generation channels in the light of the economic challenges brought on by COVID19.
On his part, the Lagos State Governor, Babajide Sanwo-Olu thanked the president for his support in giving the economy the needed boost.
Sanwo-Olu is Optimistic that “maximum of 22 months, we will bring the President here for a tour of the facility.”
To begin to rehabilitate the National Theatre, the CBN Bankers Committee will access the N20 billion already set aside for the renovation of the 40-acre building.
The constriction of the national asset was the initiative of the Former Military head of State, Retired General Yakubu Gowon
It was thereafter completed and commissioned in 1976 by the regime of Former General Olusegun Obasanjo. It hosted the famous black Festival of Arts and Culture in 1977 tagged FESTAC77 after which it was abandoned.
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