As the CBN Governor put it: “Our target is
that, by the special grace of God, Mr President, will commission the new
National Arts Theatre by November and we are hoping also on the day he
commissions the new National Arts Theatre, he is also going to lay the
foundation for the four verticals; the music, the movie, IT as well as the
fashion hubs.”
He disclosed that the project is still
expected to cost the Committee about
$100 million, stressing, however, that it was a business venture that would see
the lender realising their monies.
According to Emefiele, foreign investors
were already showing interest in the project. He said: “For the avoidance of
doubt, this project is costing the Bankers’ Committee, by the last estimate,
about $100 million. Yes, about $100 million or more will be invested in this
project, but it is going to be business where the monies will be realised again.
“And I’m happy that foreign investors are
already showing interest and I want to place it on record that we have received
enquiries from the United States from investors, who have said that they are
interested in taking a look at not just the National Art Theatre, but also the
creative opportunities that we are developing around here.”
Also speaking during the press briefing,
the Minister of Information and Culture, Mr. Lai Mohammed, thanked the CBN and
Bankers’ Committee for supporting the project, stating that he was hopeful that
the complex would be ready to host some global conferences in November this
year.
He said: “From what you see, you may not
appreciate half of what has gone on. I think we have crossed the rubicon and by
the time we come back in two months’ time, we will all see that a lot of work
has been buried under.
“Once again, I want to express my
appreciation to the CBN governor, the Bankers’ Committee, that have made it
possible for us to have enough finance and of course to the governor of Lagos
State because he is also providing the enabling environment in terms of rail
transportation in terms of making use of the waterways.
“I want to assure you that from what we
have heard today this will not be an abandoned project. This project will be
commissioned before the end of this administration.”
On his part, Lagos State Governor, Mr.
Babajide Sanwo-Olu, noted that the new National Arts Theatre will not only
boost the state and nation’s Gross Domestic Product (GDP) but also help to end
the country’s dependence on oil by facilitating the export its talents. In his
remarks, the Minister of Youth and
Sports Development, Mr. Sunday Dare, commended the Lagos State Government and
the CBN Governor, for their commitment to the project.
He specifically commended the CBN Governor
for ensuring a steady flow of funds for the execution of the project. “On
behalf of the Nigerian Youths, the greatest beneficiaries of the renovation
project, I want to commend the Federal Government and the Bankers’ Committee
for initiating the project,” he said.
Also speaking at the event, the Group
Managing Director/ Chief Executive Officer (GMD/CEO) of Access Holdings Plc,
Mr. Herbert Wigwe, thanked the CBN Governor for the significant support he has
shown for the project.