Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has urged Nigerians to take ownership of the revitalized National Arts Theatre, emphasizing its role as a vital repository of the nation’s history and culture.
Cardoso made this appeal on Thursday during an inspection of the iconic Lagos landmark alongside members of the Bankers’ Committee. He commended the committee’s vision and financial commitment to the project, highlighting the theatre’s cultural significance as a symbol of Nigerian identity.
He noted that years of neglect had led to its decline since its peak during and after FESTAC 77 but expressed satisfaction that the current restoration meets international standards. He described the project as a “giant leap forward” and a source of immense national pride.
Beyond its historical and cultural importance, Cardoso underscored the economic potential of the creative sector, estimating that it could generate up to $25 billion and serve as a catalyst for broader economic growth. He emphasized the need for collective responsibility in maintaining the theatre, ensuring its sustainability beyond the involvement of the Bankers’ Committee.
Starreporters recalls that the National Arts Theatre’s renovation commenced in July 2021 following approval from the Federal Government and its handover to the Bankers’ Committee. The monument is expected to serve as a vibrant hub for creative industries, generating employment, increasing revenue, and attracting foreign investment.
The restoration includes upgrades to key facilities such as the 4,000-seat main bowl, 3,000-seat banquet hall, exhibition halls, cinemas, VIP lounges, kitchens, clinics, and fire stations. Additionally, the project encompasses extensive roof repairs and the installation of over 300 new toilet cubicles, ensuring world-class amenities for visitors.
(NAN)