The ongoing construction of the Lagos Creative and Entertainment Centre (LC&EC), at the National Arts Theatre in Iganmu, is expected to be completed and commissioned by President Muhammadu Buhari on November this year, Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) said on Saturday.
He gave the hint during an inspection tour of the progress of work at the National Art Theater, in company with Lai Mohammed, the minister of information and culture; Babajide Sanwo-olu, governor of Lagos; Sunday Dare, the minister of youth and sports development; Herbert Wigwe, the group CEO, Access Bank Holding Company and other bank CEOs.
Emefiele said the project is costing the bankers committee by last estimate about $100 million.
“I must say that 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”, he said.
The CBN governor was impressed that foreign investors are already showing interest.
“I want to place it on record that we have received enquiries from from the United States from investors who have said that they are interested in taking a look at not just just the National Art Theatre, but also the creative opportunities that we are developing around here,” he said.
“Our target is that by the special grace of God, President, will commission the new National Arts theatre by November. And we are hoping also on the day he commissions the, the new National art threatre, he is also going to lay the foundation for the four verticals; the music, the movie, IT as well as the fashion hub.
“I’m getting excited because we are hoping that by sometime around by the end of this year, there will be some programs and global activities will be hosted in this complex. ”
He said the authorities will be talking to ArtX gallery and hopefully by this year, the ArtX exhibition can be hosted in the complex.
“I know that by November this place will be ready so that we can begin to bring this place back to us again and then put life into the the tourism life in Nigeria and particularly in Lagos State,” he said.
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As for the Information Minister, the complex will host international conferences by November.
“It seems very hopeful now that the new National Theatre will host the United Nations, World Health Organisation sometime in November this year and also some other global events,” Mohammad 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 had 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 ofLagos 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.”
As for the governor of Lagos, the building when completed will deepen the GDP for Lagos and Nigeria as a nation.
“We are stretching in ourselves to see November, December deadline, they are really stretchy numbers and we will be here again in another two three months and I am believing that we will see further advancement and further deliverables that will continue to make that closure, that realisation possible,” Sanwo-olu said.
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