Bankers' Committee Successfully Finalized Restoration of National Theatre

The Bankers’ Committee has officially announced the successful completion of the restoration and enhancement of facilities at the National Theatre. This renovation project began in July 2021, following the Federal Government's approval and the subsequent transfer of the national landmark to the Bankers’ Committee.

The Committee initiated this restoration effort to harness the vast potential within the creative sector for Nigeria's vibrant youth population. Once operational, the revitalized National Theatre is expected to generate employment opportunities, increase income, and boost foreign exchange earnings, ultimately establishing itself as a creative and entertainment center that offers essential community spaces for Nigerian youth to explore their talents and succeed.

The renovation project encompasses various areas within the National Theatre, including the 4,000-seat main auditorium, a 3,000-seat banquet hall, two exhibition halls, three cinemas, VIP lounges, actors’ dressing rooms, an industrial kitchen, over 300 new restroom facilities, a clinic, a fire station, lobbies at each of the four National Theatre entrances, and extensive roof repairs.

During a recent tour of the monument in Lagos, Mr. Abubakar Suleiman, the Managing Director and Chief Executive Officer of Sterling Bank Group, representing the Bankers’ Committee, expressed surprise at the extensive scope of work required but also acknowledged the potential opportunities it presented. He emphasized that this project is one of the largest of its kind on the African continent and that the restored edifice now meets world-class standards.

The Bankers Committeee's renovation of the National Theatre exemplifies the potential of private sector patriotism and collective responsibility in collaborating with the Federal and Lagos state governments to revitalize national monuments and assets, thereby rekindling hope, he said. 

The facilities have been enhanced to align with the highest global standards for theatre and performance. This upgrade encompasses a complete overhaul of the Heating, Ventilation, and Air Conditioning (HVAC) system, improvements to fire safety protocols, electrical systems, and the replacement of water supply and sewage infrastructure. Additionally, the interior design has been modernized with the installation of Audio Video Lighting (AVL) systems, a state-of-the-art stage engineering system, 17 passenger elevators, solar energy solutions, new furnishings, and the restoration of artworks, including those on internal wall panels and the building’s exterior. Furthermore, external enhancements supporting the National Theatre included the refurbishment of three entrance gatehouses, the creation of four themed landscapes, a car park accommodating 250 vehicles, a ring road, and the installation of external lighting and CCTV surveillance systems.

During the tour, Mrs. Kafilat Araoye, Managing Director of Lotus Bank Ltd and representative of the Bankers Committee, characterized the renovation of the National Theatre as a revival of a national treasure and a restoration of our cultural heritage. She expressed excitement about the completion of the renovation and upgrade of the facilities, emphasizing the pride taken in the work accomplished.

In his statement, Lagos State Governor Mr. Babajide Sanwoolu highlighted that upon completion, the Wole Soyinka Center for Culture and the Creative Arts (National Theatre) will serve not only as a hub for arts, tourism, and culture but also as a premier venue for international conferences and world-class performances.

The National Theatre of Nigeria can be fundamentally described as the COUNTRY’S PREMIER ENTERTAINMENT VENUE. Accordingly, it has been equipped with various facilities and auditoriums designed for stage performances, film screenings, art exhibitions, cultural events, musical concerts, conferences, and meetings, among other activities.

The monument can be found In Iganmu, Surulere, Lagos. Its construction was finalized in 1976 in anticipation of the Festival of Arts and Culture (FESTAC) scheduled for 1977. In July 2024, President Bola Tinubu officially renamed the National Arts Theatre in Iganmu, Lagos, to pay tribute to Nobel Laureate, Prof. Wole Soyinka.