TheCable

Godwin Emefiele, governor of the Central Bank of Nigeria, says a contract for the renovation of the National Art Theatre would be awarded in the next couple of weeks.

Emefiele was responding to questions from journalists at a press conference on the outcome of the monetary policy committee meeting in Abuja on Tuesday.

“All approvals are in place; we are hoping in the next couple of weeks, a contract will be awarded and the National Art Theatre by the grace of God will wear a new look,” Emefiele said.

“National Art Theatre was commissioned and used for the festival of arts and culture, 1977, we have visited that magnificent structure, yes it’s totally dilapidated but the structure can compete with any conventional Centre that you will find in any part of the world.

“So it is painful that we allowed that infrastructure to decay to the level that it is.”

Emefiele said the bankers’ committee would fund the renovation of the structure, given the approval of President Muhammadu Buhari.

The CBN governor said four structures would be built to support the creative arts activities of the Nigerian youths adding that the president will launch a new and improved national arts theatre before 2023.

In July 2020, the federal government officially handed over the National Theatre in Lagos to the Central Bank of Nigeria (CBN) and the bankers’ committee for renovation.

At the time, Emefiele said: “Our goal for the National Theatre is to create an environment where startups and existing businesses are rewarded for their creativity”.