35,000 jobs to be created from a revamped National Theatre – Emefiele

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By Francis Ogwo

The refurbishing of the National Theatre in Lagos is expected to create over 35,000 jobs, the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has revealed.

Emefiele made this disclosure on Sunday at the contract award signing ceremony for the restoration of the National Theatre.

He was of the view that the signing of the contract for the project, which is scheduled to be completed in 15 months and has Cappa & D’Alberto Limited as its main contractor, was a culmination of the commitment made by the CBN/Bankers’ Committee a year and a half ago.

The CBN Governor stated that the first phase of the project would gulp about N21.89 billion.

Emefiele had announced at the Bankers’ Committee Retreat in Ogere, Ogun State, in December 2019 that the apex bank was collaborating with the Bankers’ Committee to revive the National Theatre, adding that the plan was geared towards reviving dead or dying assets in the country.

Following President Muhammadu Buhari’s approval of the proposal, the Federal Government, in July last year, handed over the National Theatre and its adjourning lands to the CBN/ Bankers’ Committee for restoration, as part of measures to create jobs for youths and help reduce the country’s dependence on oil.

In his speech at yesterday’s event, that had in attendance the Minister of Information and Culture, Lai Mohammed; Minister of Youths and Sports, Sunday Dare; Governor Babajide Sanwo-Olu of Lagos State and the Chair, Body of Bank CEOs and Access Bank’s GMD, Mr. Herbert Wigwe, Emefiele provided further details on the project, which, he disclosed, has been christened, “Lagos Creative and Entertainment Centre (LCEC).

He said: “As you are aware, the National Arts Theatre is one of the most iconic buildings in Nigeria and despite its current state, nearly 45 years after it was built, it has continued to inspire the creativity of Nigerians, especially amongst the teeming youthful population.

“The idea behind the project christened, Lagos Creative and Entertainment Centre (LCEC), is simple. “First, we seek to restore the glory of an iconic building by aligning most of the fabric and equipment and facilities in the building with the aesthetics of the 21st century. Second, to develop an ecosystem of creative hubs on the adjoining 44-hectare parcel of land.

“This new facility will complement and enhance the National Arts Theatre.

“The Bankers’ Committee is providing funding for a prototype cluster located to the north of the National Arts Theatre, a development which we have labelled the ‘Signature Cluster’.

“This project will be a convenor, providing space, support network, business development and community engagement for the creative, cultural and technology sectors.

“The Signature Cluster will consist of a building each for Music, Film, Fashion and Information Technology verticals. In addition to these, a Welcome/ Visitor’s Centre, Police and Fire Stations, and structured parking for up to 500 vehicles will be built.”

Continuing, he said: “Consequently, the 44-hectare site adjourning the National Theatre will be developed and utilised for the development of purpose- built creative hubs for the Fashion Industry, Music and Film as well as Information Technology (IT).

“The aim is to deliver a successful Creative and Entertainment City that will encourage additional investment into Nigeria’s creative industry.”

Reiterating that the project is aimed primarily at providing an avenue for the active engagement of the youth in the country and the creation of jobs, the CBN Governor said: “We anticipate that there would be at least 10,000 direct and indirect jobs created during the construction of the Lagos Creative & Entertainment Centre.

“We also project that over 25,000 people would be engaged in different sections of the centre when the Signature Cluster is completed, with anticipated multiplier effect of other job opportunities.”

Emefiele also stated that the CBN/Bankers’ Committee will work with environmental and hydrology specialists to ensure that the existing natural ecosystem that has been formed in the land adjourning the National Theatre over the decades “will remain largely undisturbed and preserved.”

On his part, Lai said that the National Arts Theatre would become the number one event centre in Africa.

“The main essence of what we are doing today is to set the stage for restoration and upgrade of the national theatre and the development of the fallow land within its premises.

“When completed, the new national theatre will become the number one event centre in Africa.

“There can be no more fitting tag for this edifice that is situated in the home of Afrobeat, Nollywood and the pride of Black African Arts and Culture.

“For the Federal Government, this is a win-win situation. Not only will the National Theatre be restored and better managed,” the minister said.

The Federal Executive Council (FEC), last week, approved the Memorandum of Understanding (MoU) between the Ministry of Information and Culture and the CBN/ Bankers’ Committee that will result in the bankers providing about N21.89 billion for the restoration of the National Theatre.

Reports say the contract has a 21-year life span.

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