.A-ARTs rebrands after 10 years

*To invest over  $100m

*Edifice will boost nation’s GDP- Sanwo-Olu

By Elizabeth Adegbesan

The Governor Central Bank of Nigeria (CBN), Mr Godwin Emefiele said the targetted month for the commissioning of the new National Art Theatre would be November this year.

He noted that the project has cost the bankers committee about $100 million and that over $100 million would be invested in the project.

Emefiele disclosed this today during the second inspection of the edifice in Lagos.

He said:”Our target is that by the special grace of God, Mr President, will commission the new National Arts theatre by November and we are hoping also on the day he commissions the new National art theatre, he is also data is also going to lay the foundation for the four verticals; the music, the movie, IT  as well as the fashion hub.

“For the avoidance of doubt, this project is costing the bankers committee by the last estimate about $100 million and I must say that yes $100 million is about $100 million or more will be invested in this project, but it is going to be business where the monies will be realised again.

“And I’m happy that foreign investors are already showing interest and I want to place it on record that we have received enquiries from the United States from investors who have said that they are interested in taking a look at not just the National Art Theatre, but also the creative opportunities that we are developing around here.”

On his part, the Minister of Information,  Culture, Lai Mohammed expressed gratitude to the CBN and Bankers Committee for their support saying:”From what you see, you may not appreciate half of what has gone on. I think we have crossed the rubicon and by the time we come back in two months’ time, we will all see that a lot of work had been buried under.

“Once again, I want to express my appreciation to the CBN governor,  the Bankers Committee, that have made it possible for us to have enough finance and of course to the governor of Lagos state because he is also providing the enabling environment in terms of rail transportation in terms of making use of the waterways. 

“I want to assure you that from what we have heard today this will not be an abandoned project, this project will be commissioned before the end of this administration.”

Lagos State Governor, Mr Babajide Sanwo-Olu noted that the edifice will not only boost the state and nation’s Gross Domestic Product ( GDP) but also do diversify the country from dependence on oil.

” This in itself can further help us to deepen our GDP as a state, as a nation and continue to de-emphasize oil as the only source of revenue that we have and we can begin to export all of the talents that will be coming out of this place to the rest of Africa and the world.

‘The only reward for good work is simply more work. We are stretching ourselves to see November, December deadlines, they are really stretchy numbers and we will be here again in another two-three months and I am believing that we will see further advancement and further deliverables that will continue to make that closure, that realisation possible”, he said.

Vanguard News Nigeria


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