By Dayo Omoogun
The Federal Government has formally handed over the National Theatre, one of Nigeria’s most important monuments, to the Central Bank of Nigeria
and the Bankers Committee for rehabilitation.
In attendance at the ceremony held yesterday (Sunday) in Lagos were the Ministers of Youth and Sports as well as that of Information and Culture, Chief Sunday Dare and Chief Lai Muhammed respectively, the Governor of the Central Bank Mr. Godwin Emefiele, The Managing Director of Access Bank PLC Mr. Herbert Wigwe as well as the Governor of Lagos State Babajide Sanwoolu.
In October 2019, President Muhammadu Buhari had given approval for the handing over of the facility to the Banking industry for rehabilitation. Yesterday’s ceremony therefore marked the first major move towards the implementation of the approval.
The cost of rehabilitation is put at N25 billion naira and the exercise is expected to be concluded within 18 months.
The rehabilitation of the National Theatre when concluded is expected to provide a huge boost for the entertainment industry in the country and invariably the national economy.