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Bankers Committee Spends $100M To Renovate National Theatre


The ongoing revolution and transformation of the National Theatre, Iganmu into a world class business and entertainment hub is going cost the Bankers Committee One hundred, 100, million dollars.

Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, made this known during the second inspection of the project, in Lagos.

Mr. Emefiele said President Mohammadu Buhari and the governor of Lagos State Mr Babajide Sanwo-olu, deserve accolades for the role thyed towards

Mr Emefiele, who said he was happy that foreign investors have already started showing interest in the project noted that the Apex bank has also received inquiry from from investors from United States of America who said they were interested in taking a look at not just just the National Art Theatre, but also the creative opportunities that are been developed around there.

He expressed optimism that the National Theatre is going to be a profitable investment.

Mr Emefiele, who expressed gratitude to President Mohammad Buhari, said it was his vision that some space must be created for the nation’s youths through the creative industry.

He also appreciated the Lagos state Governor, Mr Babajide Sanwo Olu, saying the Governor introduced to the bankers committee, the 44 hectare of land that also include the National Arts theatre, when they were searching for land for the project.

The CBN Governor pointed out that the Bankers Committee was doing a total rejuvenation of Lagos state by redeveloping this masterpiece right at the center of Lagos, that will be linked with the rails to ensure the project works.

Mr Emefiele stated that the target is for President Buhari to inaugurate the new National Arts theatre by November this year.

” And we are hoping also on the day he commissions the new National art threatre, he is also data is also going to lay the foundation for the four verticals; the music, the movie, IT as well as the fashion hub”.

The CBN Governor noted that every structure there is going to be standing on almost about 46 meter pile.

According to him, though it is a very extensive work, by the time the President is about bowing out of office by May next year, he would come again to inaugurate not just the national asset, but the entire edifice comprising the four vertical hubs that will create immense business opportunities.

The opportunities include tourism and creative sector businesses for the nation’s youths who have shown lot of creative talents.” I’m getting excited because we are hoping that by sometime around by the end of this year, there will be some programs and global activities will be hosted in this complex. We would be talking to ArtX gallery and hopefully by this year we can bring the ArtX exhibition into this complex because we know that by November this place will be ready so that we can begin to bring this place back to us again and then put life into the the tourism life in Nigeria and particularly in Lagos State”.

The Minister of Information and Culture, Alhaji Lai Mohammed, Lagos state Governor, Mr Babajide Sanwo Olu, Minister of Youths and Sports, Mr. Sunday Dare and some members of the Bankers Committee were among dignitaries that came for the inspection.

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