Following the official handover of the iconic National Arts Theatre Complex, Iganmu Lagos, to the Central Bank of Nigeria (CBN) and the Banks under the aegis of the Bankers’ Committee, in order to commence the renovation of the facility, the Federal Government is targeting an annual revenue generation of $20m and 1 million job creation from the development.
CBN’s Governor, Godwin Emefiele, made this known during the event which was attended by the Minister for Information and Culture, Lai Mohammed, and the Lagos State Governor, Babajide Sanwo-Olu and others.
Read also: Buhari Seeks Speedy Completion Of $2.5bn AKK Gas Pipeline Project
According to the CBN’s boss, the National Arts Centre when completed in 18 months will be known as Nigeria’s Creative Industrial Centre and will be comparable to other world-class entertainment and convention centers in any part of the world.
He disclosed that the activities in the center which would include music, movies, fashion, and Information and Communication Technology, ICT, could be a very important source of growth and reduce the dependence on revenues from crude oil.
He pointed out the creative industry has the potential to generate over $20 billion annually for Nigeria with its human capital resources and an enabling environment that would harness the creative talents of her youths.
Emefiele said: “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 percent are under the age of 35, we must 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,” he said.
He also said that the theatre would support skills acquisition and job creation for over 1 million Nigerians. These Nigerians will be empowered with funds at a 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.
He revealed that the supporting facilities like retail outlets, hotels, entertainment centers, and an international conference center would also help to reposition the center as a viable location for high-level international meetings and conventions.
