National Theatre gets N20bn boost from Bankers Committee

The Governor of the Central Bank of Nigeria, CBN, Dr Godwin Emefiele has re-affirmed that the National Theatre at Iganmu, Lagos, is not for sale. Rather,  the Bankers Committee would spend N20 billion to refurbish it for full scale commercial activities.Emefiele told journalists at the end of the 11th session of the Bankers Committee meeting in Ogun State, at the weekend, that the committee is appreciative of President Muhammadu Buhari’s approval for the improvement and redevelopment of the asset.He said aside from the redevelopment of the National Theatre, four hubs will be built around it, which will be developed and funded by the Bankers Committee.“These four hubs are IT, fashion, music and Nollywood. The Bankers Committee has its own funds that it has set aside; nothing less than N20 billion is going to be spent to carry out the maintenance.“Not just the development of the hub but also, develop interest. This will help create economic activities around the National Art Theatre and then present it as an opportunity to create jobs for people, particularly our youths,’’ Emefiele said.He added that the committee would revive the dying asset that is currently not well maintained, not tapping its potentials fully and lacking good maintenance.The apex bank governor said the plan for the national edifice will not entail job loss. “We will work with them and put in place the maintenance culture and arrangement that will make the national theatre and the hubs around it a tourists’ attraction.“I repeat, we have attended different conferences in different parts of the world, the potential that the national theatre possesses is more and better than some of the conference centres we saw in different parts of the world”, he stressed.