FG hands over National Theatre to CBN, Minister Commends President Buhari

Mr Sunday Dare, third left, Alhaji Lai Mohammed, Governor Sanwo-Olu, fourth right and Deputy Governor Dr Obafemi Hamzat with others at the National Theatre on Sunday.

The Federal government of Nigeria has on Sunday, July 12, 2020, formally handed over the National Theatre Iganmu to the Central Bank of Nigeria (CBN) and Bankers Committee.

Speaking at the event in Lagos, the CBN Governor, Mr Godwin Emefiele assured that upon completion in another 18 months, the Theater would have transformed the entrance area into an internationally recognized entertainment centre.

According to him, upon completion, the centre would create over 1 million jobs for Nigerians.

Emefiele had on December 14, 2019, disclosed that the bankers’ committee would spend not less than N20 billion on the project, which he added would help to create economic activities around the National Theatre and create job opportunities for people, especially the youth.

The Minister of Youth and Sports Development, Mr Sunday Dare praised President Muhammadu Buhari for renewing his commitment to providing opportunities for the Nigerian Youth.

He described the President’s call for investment in projects that will directly benefit young people as visionary and timely.

“Today’s event is another giant step towards strengthening President  Muhammadu Buhari’s commitment to create opportunities for our teeming Youth.

For me, this project fits perfectly to seek and collaborate with willing partners to keep the Nigerian Youth busy.  The potentials of this four component New National Theatre is massive in job creation for our Youth, talent discovery and development, revenue generation and as an innovation and technology hub.

“With the pandemic still biting hard at our nation and the world at large, this project is a much needed shot in the arm to vaccinate our Youth against the multi-headed challenges of unemployment, criminality and the negative impressions forced on them by the very few unscrupulous individuals, who have chosen a life of crime on the international scale.”

The event was attended by the Minister for Information, Culture and Tourism, Alhaji Lai Mohammed; the Governor of Lagos State, Mr. Babajide Sanwo-Olu; the CBN Governor, Mr. Godwin Emefiele; and the Chairman of the Bankers Committee, Mr. Herbert Wigwe.

Mr. Dare thanked the Bankers Committee for their will to invest in the Youth, saying it was worth the risk. He added that the creative industry in Nigeria which is fueled by the energy and imagination of the Youth, is a lucrative venture.

“It is now commonplace to hear music produced by our Youth in shopping malls of Dubai, New York, London, and Moscow amongst other great cities of the world,” he said. “In terms of downloads, Nigerian artistes like WizKid and Davido are punching at a global level. From the Royal Albert Hall to 02 Centre in London, to virtually all African capitals, sold out audiences in some cases exceeding 35,000 people have paid premium prices to see these amazing home-grown Nigerian products perform. The value chain they lubricate – from legal specialists, logistics, video/graphic artists, fashion, broadcast engineering and much more – are extensive.”

The National Theatre property and the entire land was officially handed over by Alhaji Lai Mohammed since the establishment is under his ministry, which is in a partnership with the Lagos State Government, the Bankers’ Committee and the Ministry of Youth and Sports Development on the project. The project, which is to be completed in 18 – 22 months, would convert the National Theatre to a creative village, with four other pillars, including a pillar for the film industry; one for the music industry, one for fashion and another one for Information Technology.

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