Be proud of National Theatre, defend it – CBN Governor

Governor, Central Bank of Nigeria (CBN), Olayemi Cardoso, has called on Nigerians to take ownership of the revitalised National Arts Theatre as a vital repository of the nation’s history and culture.

Cardoso made the call during an inspection of the Lagos landmark alongside members of the Bankers’ Committee on Thursday.

The governor commended the vision and resources of the Bankers’ Committee on the project.

He highlighted the significant cultural value of the National Arts Theatre, emphasising that it embodies the essence of the Nigerian people.

Cardoso noted that the creative sector has the potential to generate an estimated 25 billion dollars, acting as a powerful engine for broader economic growth.

He said that the years of neglect had led to the theatre’s decline since its heyday during and after FESTAC 77.

He expressed his satisfaction with the current restoration, noting that the project meets international standards.

“This is a giant leap forward, a source of immense pride for all Nigerians.

“Moving forward, it’s crucial that we all, not just the Bankers’ Committee, take responsibility for safeguarding this national treasure,” the governor said.

He emphasised that the restoration was driven by a desire to unlock the creative sector’s potential for Nigeria’s youth.

Recall that the renovation of the National Arts theatre began in July 2021, following approval by the federal government and the subsequent handover of the national edifice to the Bankers’ Committee.

The monument is expected to be a vibrant creative and entertainment hub, generating jobs, boosting income and attracting foreign exchange.

It will also provide essential community spaces for young Nigerians to flourish.

The extensive renovation encompassed numerous areas, including the 4,000-seat main bowl, the 3,000-seat banquet hall, exhibition halls, cinemas, VIP areas, and essential facilities like kitchens, clinics, and fire stations.

The project also included comprehensive roof repairs and the installation of over 300 new toilet cubicles.