FG officially hands over National Arts Theatre to CBN, Bankers Committee for upgrade

Speaking at the event, Mohammed said that the National Theatre, despite the arrangement, still remained a national heritage.

He said that the Federal Ministry of Information and Culture would continue to hold the keys to the iconic national heritage despite the Public Private Partnership arrangement between FG and the Bankers Committee.

“Please permit me to make clarifications that this iconic National theatre remains a national heritage and will not be ceded to any person or group as some naysayers are insinuating, it remains our national heritage”.

The Federal Ministry of Information and Culture will continue to hold the keys to the National Theatre on behalf of all Nigerians.

“What we are here to do is to handover the National Theatre for restoration and upgrade and also the 134 hectares of fallow land within the premises to the Central Bank of Nigeria and the Bankers committee for development,” he said.

The Minister said that the PPP arrangement would be in two phases which were; the restoration and upgrade of the National Theatre to its glory days, while the second phase would be the development of the fallow land surrounding the edifice.

” Another good news is that this project will not lead to any single job loss rather, it will create more, over 6,000 jobs will be created during the construction phase while the completed project could generate additional 600 permanent jobs and 2000 to 3,000 jobs, this is a good one,” he said.

Mohammed said that the project which had been approved by President Muhammadu Buhari would be a win-win arrangement for everyone involved.

“The place had been left for over four decades without any form of renovation. Government has no money to restore the complex as you know, this is the hub of the creative industry in Nigeria”.

“The National Theatre was established for the advancement of the performing arts throughout the country, to also encourage the promotion of the social development and improvement of the quality of life. But its present state is not living to its billing,” he said.

The Minister said that the centre, upon upgrade, would comprise creative clusters of fashion, music, film and information technology which would be supported by other facilities including multi-storey parking space to accommodate over 1000 cars.

“There would be the administrative and management offices, this will create massive job opportunities for the youths. I enjoin all of us to give our maximum support to this project so that we can bequeath a befitting national heritage to the younger generation. I appreciate everyone connected to the success of this project,” he said.

The CBN Governor, Godwin Emefiele, on his part, gave an assurance that the National Arts Theatre would go through a transformation into a world-class facility.

He explained that the challenges posed by the coronavirus (COVID-19) pandemic have further necessitated the need for the Federal government to diversify its income generation avenues.