The Governor of Central Bank of Nigeria, Olayemi Cardoso, has described the renovation of the National Arts Theatre in Iganmu, Lagos, as a major boost for Nigeria’s creative sector.
Cardoso made this disclosure during a tour of the building alongside his Deputy Governors, Philip Ikeazor and Ms. Emem Usoro, and several bank managing directors on Thursday.
The renovation began in July 2021 after receiving Federal Government approval, with the national monument handed over to the Bankers’ Committee for restoration.
Speaking to the press, Cardoso said, “It is estimated that the creative sector can potentially generate about $25bn. Okay, this, to my mind, will be a great catalyst for that to happen. And of course, as that happens, so will the prosperity of not just the creatives, but all Nigerians.”
He commended the Bankers Committee on the renovation, saying, “Well, firstly, highly commendable, and one does have to commend the vision and the resources of the Bankers Committee for doing this. It’s been a long, hard road, and if it was not for the belief and the commitment of those sponsors, this would never have been realised; indeed, it would have been a great disservice to our country, because embedded in what we see here is a lot of the history and culture of the Nigerian people, and if it was not for the fact that they had the vision and were determined to surmount all the obstacles in getting here. We wouldn’t be here today.
“So, for me, as a Lagosian, I grew up here. I saw this in 1977 when we had FESTAC ‘77 and subsequently sub times. From that time, we used to come here to have different events and activities, and we’re very proud of what we had as Lagosians. Sadly, years later, due to lack of maintenance and a whole host of things, the edifice, which was iconic at the time, unfortunately, fell into a state of disrepair and then abandonment. So, to have been able to be alive today, to see this massive transformation to a world-class structure, is again a testimony to the Nigerian spirit.”
Cardoso urged Nigerians to take pride in the rich history represented by the National Theatre.
“I think the difficult part has been done, going into the future. We all, and this is very important, I must say that we as Nigerians, not just the Bankers Committee, should want to take pride in defending what has been put here. So, it’s not a question of us and the bankers committee. No, we are all in it together. This is a very major reflection. And when you go around, you will see that a lot of our culture is embedded in the structures here. Okay, so it’s beyond just an edifice. It is what it represents.
“Going forward, I’m very certain that the partnership that has taken place between the private sector and public sector that has resulted in this spirit, in conjunction with the Nigerian people, will take us to the next level.”
On a tour of the facility with the CBN governor and his team were the Managing Director/Chief Executive Officer of Nigeria Deposit Insurance Corporation, Bello Hassan; FirstBank MD, Olusegun Alebiosu; United Bank for Africa MD, Oliver Alawuba; Zenith Bank MD, Adaora Umeoji; Fidelity Bank MD, Nneka Onyeali-Ikpe; Wema Bank MD, Moruf Oseni; Parallex Bank MD, Olufemi Bakre; and MD/Regional Executive of Ecobank Nigeria Limited, Bolaji Lawal, among others.
