FG Hand Over National Theatre To CBN


The Federal Government has reportedly handed over the National Theatre and its surrounding lands to the Central Bank of Nigeria, CBN, for restoration, which aims at creating millions of jobs for youths in the country and diversifying the country’s economy.

According to CBN, the country has the potential of earning $20 billion annually from the creative industry when the edifice is renovated into four pillars: information technology, music, film and fashion.

Governor of CBN and Chairman, Bankers Committee, Godwin Emefiele

In his remarks, expressed gratitude to President Muhammadu Buhari for the handing over of the structure constituting over 132,000 hectares of land.

He said: “The National Theatre, Iganmu, Lagos, which is being handed over today to the Bankers Committee is expected to serve as the initial pilot for the Nigeria Creative Industries Centre.

“Upon completion in another 18 months, this area would have transformed into Nigeria’s Creative industrial Centre, which will be comparable to other world class entertainment and convention centres in any part of the world.

Furthermore, he said “Following the completion of the renovation works at the National Theatre, with the supporting facilities that will be built around it, which include a hotel and an expansive conference centre, we intend to set up similar creative industries centres in Kano and Port Harcourt.”

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