*National Theatre modernization a step to 21st century Lagos – Sanwo-Olu
*Renovation’ll build up more resilient economy, could rakes in over $20 billion annually – Emefiele
EHIME ALEX with News Agency
The Federal Government has officially handed over the National Theatre to the Central Bank of Nigeria and the Bankers Committee to restore and upgrade the centre to its glory days.
The official handover ceremony was conducted by the Minister for Culture and Information, Alhaji Lai Mohammed on Sunday in Lagos.
The project for the refurbishment of the National Theatre is expected to be completed in another 18 months.
Speaking, the minister said the National Theare, despite the arrangement, still remains a national heritage and not to be ceded to any person or group as being insinuated by naysayers.
He said the Federal Ministry of Information and Culture would continue to hold the keys to the iconic national heritage inspite of the Public Private Partnership arrangement between the federal government and the bankers committee.
The minister said, “Please permit me to make clarifications that this iconic National theatre remains a national heritage and will not be ceded to any person or group as some naysayers are insinuating, it remains our national heritage.
“The Federal Ministry of Information and Culture will continue to hold the keys to the National Theatre on behalf of all Nigerians.
“What we are here to do is to handover the National Theatre for restoration and upgrade and also the 134 hectares of fallow land within the premises to the Central Bank of Nigeria and the Bankers committee for development.”
Mohammed also noted that the PPP arrangement would be in two phases: the restoration and upgrade of the National Theatre to its glory days, and the development of the fallow land surrounding the edifice.
“Another good news is that this project will not lead to any single job loss rather, it will create more, over 6,000 jobs will be created during the construction phase while the completed project could generate additional 600 permanent jobs and 2000 to 3,000 jobs, this is a good one,” he stated.
Stating the project, which had the approval of President Muhammadu Buhari, will be a win-win arrangement for everyone involved, he said, “The place had been left for over four decades without any form of renovation.
“Government has no money to restore the complex as you know, this is the hub of the creative industry in Nigeria.
“The National Theatre was established for the advancement of the performing arts throughout the country, to also encourage the promotion of the social development and improvement of the quality of life.
“But its present state is not living to its billing.”
Upon upgrade, the minister said the theatre would comprise creative clusters of fashion, music, film and information technology which would be supported by other facilities including multi-storey parking space to accommodate over 1000 cars.
“There would be the administrative and management offices, this will create massive job opportunities for the youths.
“I enjoin all of us to give our maximum support to this project so that we can bequeath a befitting national heritage to the younger generation.
“I appreciate everyone connected to the success of this project,” Mohammed said.
Also speaking, the Lagos Governor, Mr Babajide Sanwo-Olu, said the new initiative is a step toward making the state a 21st century economy.
He noted that making Lagos a 21st century economy is the fourth pillar of his administration’s T.H.E.M.E.S Agenda.
“There is no way we will make a 21st century economy if this entire massive real estate and land, that we have are not turned from a dead asset to a living asset.
“It fits with our vision, it fits with our plan, it fits with our thinking of our new Lagos,” he said.
Sanwo-Olu who noted that the journey started about 10 months ago amid misconceptions said the purpose was not to move people out of job but to create more jobs and boost the economy.
The governor said that the entire creative industry and Lagos State in particular, would benefit from the revamping of the National Theatre.
“It is exactly 410 days that we all got sworn-in as governor of Lagos State and so we are counting.
“We have agreed and said that in a maximum of 22 months, we will be bringing the president here, to walk him round the new, reformed, revitalised National Arts Theatre and all of the adjoining buildings, while we are still in government, there is no better joy for me personally than that.
“Lagos is a signature, Lagos is a centre piece. We have had good times in the National Theatre and it is time to revitalise it.
“I think it will be a shame on all of us, if we are not doing what we are doing today. If people can think about 40 to 45 years ago and put this edifice here, the least we can do is what we are doing here today, to turn it around, to make it happen for another 40 years of people that are going to come behind us.
“With the regeneration of the National Theatre and its environs, we are writing our tomorrow today,” he noted.
Lauding President Muhammadu Buhari’s strong backing for the vision, he also commended the CBN Governor Godwin Emefiele and the Chairman of Banks CEOs, Mr Herbert Wigwe for pushing for the initiative of revamping the economy through the National Theatre.
The CBN Governor, Godwin Emefiele, who also spoke at the official handover ceremony of the facility to the Bankers Committee, said the National Theatre when renovated and fully operational would lead to the build up of a more resilient economy.
Emefiele believes that the handover of the facility to the committee was timely, considering the external headwinds facing the country’s economy at the moment.
“The impact of COVID-19 on the global economy and the containment measures that have been put in place to contain the spread of the virus has led to a slowdown in global growth which has also affected the Nigerian economy.
“In addition to the public health challenge, our country is faced with a revenue shock primarily driven by the 40 per cent drop in crude oil prices between January 2020 and now.
“Given our dependence on crude oil as a major source of government revenue, as well as for our foreign exchange earnings, these challenges have served to reinforce the need for stakeholders to promote policies and programs that will enable greater diversification of the Nigerian economy.
“A diversified economy that supports increased productivity in the agriculture and manufacturing sectors, while harnessing the talents of our youths in the creative industries, will lead to the buildup of a more resilient economy, that is better able to withstand external shocks, while creating wealth and jobs for our growing population,” Emefiele said.
The CBN governor while stating that the renovation would help transformed the facility into Nigeria’s creative industrial center, said he is convinced that the centre will be comparable to other world class entertainment and convention Centers in any part of the world.
The centre which would comprise Music, Movies, Fashion and ICT could be a key source of growth for Nigeria’s economy as it would create one million jobs for our teeming youth, the apex bank governor said, and that it would aid the country’s objective of reducing dependence on revenues from crude oil.
Emefiele noted that India, in 2018, generated over $240 billion rom exports of IT, Movies, Music and Fashion related goods and services which amounted to over five times Nigeria’s annual earnings from the sale of crude oil.
He said Nigeria had the potential to earn over $20 billion annually from the creative industry with its human capital resources and an enabling environment that would harness the creative talents of her youths.
With the growing demand for Nigerian music, movies and fashion, across Africa and in various parts of the globe, Emefiele said its creative industries are spurring innovation, creating jobs, and helping to shape perceptions of Nigeria as a nation with a strong spirit of creativity and ingenuity.
“We must do more to encourage the innovative works of these young talented Nigerians as they can make significant contributions to the growth and development of our country.
“Secondly, given our growing population of close to 200m people, out of which 60 per cent are under the age of 35, it is imperative that we strive to create opportunities that will keep our youths engaged, as it would portend great dangers for the progress of our nation if we allow these talents go to waste,” Emefiele said
He noted that the “Creative Industries Financing Initiative” which was set up in December 2018, is meant to support startups and existing businesses across the four pillars as well as foster the development of a Nigeria Creative Industries Centre in four major cities in Nigeria.
He hinted that the committee would support the creative venture with about N25 billion of initial funding.
According to him, the facility will serve as the initial pilot for the Nigeria creative industries centre.
He also stated that following the completion of the renovation works at the theatre, along with the supporting facilities that would be built around it, the committee intended to set up similar creative industries centres in Kano, Port Harcourt or Enugu.
Emefiele said that the supporting facilities include a hotel and an expansive conference centre,
He said the committee’s goal for the National Theatre was to create an environment where startups and existing businesses are rewarded for their creativity.
The CBN governor said the theatre would support skills acquisition and job creation for over one million Nigerians over the next five years.
“These Nigerians will be empowered with funds at single digit interest rate, high level training using state-of-the-art tools, and networks, that will enable them to turn their ideas into a reality.
“When they are able to achieve their objective of creating a new music product, a high-quality movie, an IT software application, or a fashionable outfit, the bankers committee will work to ensure that they are able to distribute their work on a larger scale,” Emefiele said.
According to the apex bank governor, individuals would have the opportunity to showcase their work at the creative industries centre when completed, which will help to expose them to domestic and external investors.
This, he said, could provide them with additional resources, which would enable production and expansion of their creative works.
He said that the supporting facilities such as retail outlets, hotels, entertainment centres, and an international conference centre would also help to reposition the centre as a viable location for high level international meetings and conventions.
Emefiele also thanked President Buhari for handing over the facility to the Bankers Committee, assuring that these skills are harnessed to support the growth of the creative industries, and by extension the growth of the Nigerian economy.
Also, the Minister for Youths and Sports, Mr Sunday Dare, remarked that it was a privilege for him to be at the event which would see to revampimg the creative and entertainment centre.
Dare said many would wonder why the minister for youths was at the event forgetting that the youth would benefit more from the project as they are the most active part of the creative industry.
“The potential of the new National Theatre is massive job creation, talent discovery for our youths and the coming generation being an information and technology hub.
“With the Pandemic still biting hard, this project is much more divine and needed to battle the multi-headed challenge of unemployment, criminality and the negative impression that is thrust upon individuals who have chosen the life of crime.
“I commend the Bankers Committee for pioneering the vision and taking the risk to invest in the youth of this country.
“Some may see it as a risk, but I do not see it that way, I see it as an investment, even if it is a risk, it is a risk worth taking.” he said.
The minister also commended President Buhari for giving approval for the upgrade of the national heritage.
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