By Chioma Obinagwam
The governor of Nigeria’s central monetary authority, the Central Bank of Nigeria (CBN), Godwin Emefiele, has commended the Federal Government for handing over National Arts Theatre to the Bankers’ Committee for renovation.
Confiance News gathered from the official Twitter handle of CBN on Sunday.
“Emefiele says revamping the National Arts Theatre will unlock the creative talents of hundreds of thousands of Nigerian youths in the fields of music, movie, fashion and information technology,” the bank disclosed on Twitter.
#Emefiele says revamping the National Arts Theatre will unlock the creative talents of hundreds of thousands of Nigerian youths in the fields of music, movie, fashion and information technology.
— Central Bank of Nigeria (@cenbank) February 14, 2021
“Bankers’ Committee to provide funding for a prototype cluster labeled “the Signature Cluster” which consists of a building each for Music, Film, Fashion and Information Technology verticals,” he continued.
Emefiele also disclosed that the Main contractor handling the project is Cappa & D’Alberto Limited, the Electrical Sub Contractor is Nairda Limited, while the Mechanical Sub Contractor is VACC Limited.
Furthermore Premium Times reports that Mr Emefiele anticipates that there would be at least 10,000 direct and indirect jobs created during the construction of the Lagos Creative and 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,” Mr Emefiele said in the report.
The report also disclosed that the first phase would gulp about N21.3 billion.
Situated in Lagos State, southwestern part of Nigeria , the National Arts Theatre was constructed in 1976. It hosted the Festival of Arts and Culture (FESTAC) in 1977, a multi-purpose national monument for the preservation, presentation and promotion of Nigerian arts and culture.
