National Arts Theatre
Business

CBN-sponsored N65bn refurbished Lagos National Theatre Complex ready to host UN World Tourism Organisation Conference Nov. 14

215

The first phase of the rehabilitation of the National Theatre, Lagos, constructed for the hosting of FESTAC 1977 and sponsored by the Central Bank of Nigeria (CBN), has been completed and it is ready to host the United Nations World Tourism Organisation Conference.

The UNWTO and the Federal Government conference with the theme, “Linking tourism, culture and the creative industries: Pathways to recovery and inclusive development’’, holds from November 14 to November 16, 2022.

Persecondnews reports that the national monument sitting at Iganmu within the precincts of the News Agency of Nigeria (NAN) and also harbouring the Lagos State Government Blue Line train station en route to Marina on the island, is overlooking the Eko Bridge and Costain Roundabout.

It was constructed by the administration of the then Head of State, Gen. Olusegun Obasanjo about 45 years ago to host the first-ever Festival of Arts and Culture known as FESTAC ’77.

The Central Bank of Nigeria and the Bankers Committee had in 2020, collectively agreed to invest over N65 billion to rehabilitate the National Theatre and return it to its former glory, working closely with the Federal Ministry of Information and Culture, the Ministry of Youth and Sports Development and the Lagos State Government.

Over the last 18 months, a complex rehabilitation project has painstakingly rebuilt the heart of the National Theatre. More than 70 historic sculptures, mosaics, resin, brass and wood friezes and stained glass artworks form part of the original design, with each needing to be protected during renovation, or in some cases, removed and restored before being replaced.

With the second phase of the rehabilitation work due for completion in March 2023, the national monument which has been abandoned for several decades will be restored to its original glory.

The facility has a 5,000-seater main amphitheatre of international standard with adjoining two world-class cinema halls, banquet halls and a library.

A statement in Lagos said the project is not just about restoring a building, but about creating an ecosystem of support for the creative sector, as part of what is called the Lagos Creative & Entertainment Centre (LC&EC).

“The theatre itself will be at the heart of a larger development of hubs focused on supporting emerging talent in the music, film, fashion and IT sectors. The creative hubs are built on portions of land within the 44Ha site.

“The first phase known as the “Signature Cluster” consists of a building each for Fashion, Music, Film, and IT and support facilities including a 250-car park block, a police station, a fire station, and a visitors’ Welcome Centre which will house commercial and retail facilities, administration & management offices.’’

The CBN Governor, Mr Godwin Emefiele, while commenting on the completion of the first Phase, said: “The National Theatre is one of the symbols of Nigeria’s culture and heritage and must be at the heart of our work to enhance and celebrate the creative industries. The completion of phase 1 is a demonstration of the outcomes we can achieve when we work together as the public and private sector.

“The Central Bank has been able to bring together the diverse set of stakeholders required to ensure that this project is delivered, from the Bankers Committee to the Ministries of Information and Culture, and Youth and Sports Development and the Lagos State Government.

“We thank Mr. President for his overwhelming support that has made the restoration of this national iconic symbol of arts and culture a reality. Together, we are not just restoring the National Theatre to its former glory, but we are establishing the wider foundations on which we can build a truly world class creative sector, at home.”

Leave a comment

Related Articles

UBA to empower MSME’s with wealth management strategies at its ‘Built to Last’ series

As part of its commitment to deepen the growth and sustainability of...

FirstBank Hosts First-ever China-Africa Interbank Association Forum

FirstBank, the premier West African financial institution and financial inclusion service provider,...

UBA to raise N239.4bln via right issues – Elumelu

The Group Chairman of United Bank for Africa, Tony Elumelu, has announced...

Nigeria’s Domestic Debt Reaches N66.957trn in H1 2024

Nigeria’s domestic debt stock has surged to N66.957 trillion in the first...

China’s imports from Nigeria soar to $15.1bln, 36.1% increase

China’s imports from Nigeria have reached an all-time high of $15.1 billion...

Bitcoin Surges to New High on Trump’s Presidential Victory

The price of bitcoin has skyrocketed to a record high of $75,345,...

Polaris Bank wins “Best Mobile App” award at Digital Jurist Awards 2024

For its commitment to digital innovation and excellence, Polaris Bank has again...

SanDisk extreme portable SSD: A must-have for Nigerian remote workers, freelancers

Julius Babarinde As the Nigerian work environment continues to evolve, remote work...

Media capacity-building: Polaris Bank trains 5,000 Nigerian journalists in 10 years

As part of its media capacity-building initiative, Polaris Bank Limited, Nigeria’s leading...

Nigeria to issue diaspora bond in US, targets $1bln monthly remittances

Nigeria is planning to issue a diaspora bond in the United States...

System upgrade: FirstBank enhances supplier’s platform, guarantees uninterrupted, seamless services

FirstBank has reacted to a misleading report circulating in the media regarding...

Reps to CBN: Withdraw old naira notes before December 31 deadline

The House of Representatives has called on the Central Bank of Nigeria...

US-Nigeria trade relationship hits $10bln mark

The United States and Nigeria have achieved a remarkable milestone in their...

NNPC Retail Sensitizes Auto Mechanics on CNG Adoption, Unveils Oleum Lubricant Range

NNPC Retail Limited, a subsidiary of NNPC Ltd, has taken a significant...

Aliko Dangote’s wealth soars to $28bln as his oil refinery comes on stream

Aliko Dangote, Africa’s richest man, has seen his wealth more than double...

Naira Defies Global Trends, Appreciates 5.7% Against Dollar

The Nigerian naira staged a surprising comeback on Monday, appreciating 5.7 percent...

Naira appreciates 4.49% against the dollar, closing at N1,561.76

The Nigerian naira strengthened significantly against the US dollar on Tuesday, closing...

Nigeria’s foreign investment surges by 152% in Q2 of 2024

Nigeria’s foreign investments, also known as capital importation, have seen a significant...

African oil-producing nations secure 45% of $5bln Energy Bank funds

Afnations have made significant progress in establishing the Africa Energy Bank (AEB),...

FG’s fresh fiscal incentives to attract $10bln to oil and gas sector – Edun

The Federal Government unveiled fresh fiscal incentives to enhance Nigeria’s oil and...