CBN Partners With Lagos on ₦22 Billion National Theatre Renovation

Written by on October 9, 2019

The Central Bank of Nigeria and the Lagos State Government team have assessed the National Arts Theatre ahead of a new investment plan that includes building a Creative Industry Park at the Theatre.

In the assessment team are Lagos State Governor, Babajide Sanwo-Olu; his Deputy, Dr. Obafemi Hamzat; CBN Governor, Godwin Emefiele; Permanent Secretary, Lagos State Land Bureau, Bode Agoro and CBN Director of Corporate Communications, Isaac Okorafor.

The tour was targeted at assessing the state of the facility meant to benefit from ₦22 billion Creative Industries and Financing Initiative (CIFI) championed by the CBN and Bankers’ Committee. The project and others planned for Enugu or Port Harcourt and Kano are expected to create millions of direct and indirect jobs for Nigerians.

The Chairman of Body of Bankers CEOs, Herbert Wigwe, says the project is in line with the federal government’s vision of lifting 100 million people out of poverty.

He says the creative village will provide employment for at least, a million Nigerians, who have skills in music, IT, movies, among others.

“We are beginning to think of the multiplier effects – one million direct youths- it may mean that we may have 20 million youths taken out and given proper jobs. Now, begin to imagine as well what this edifice would mean if we happen to develop the National Theatre.”

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