Foreign investors are already showing interest in Nigeria’s new creative Creative and Entertainment Centre being constructed at the National Arts Theatre in Iganmu, Lagos, Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) said.
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 in November this year, he said.
He gave the hint during an inspection tour of the progress of work at the National Art Theater, in company of Lai Mohammed, Minister of Information, Culture, Babajide Sanwo-olu, governor of Lagos, Sunday Dare, Federal Minister of Youth and Sports Development, Herbert Wigwe, 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 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,” he said.
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“Our target is that by the special grace of God, the President, will commission the new National Arts theatre by November. And we are also hoping that on the day he commissions the new National art theatre, he is also going to lay the foundation for the four verticals; the music, the movie, IT, as well as the fashion hub”, he said.
“I’m getting excited because we are hoping that by sometime around the end of this year, there will be some programs and global activities will be hosted in this complex,” he said.
Mohammed said “It seems very hopeful now that the new National Art Theatre will host the United Nations, World Health Organisation sometime in November this year and also some other global events. From what you see, you may now 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 done.
“Once again, I want to express my appreciation to the CBN governor, the Bankers Committee, that has 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, Mohammed said.
Sanwo-olu said “this in itself can further help us to deepen our GDP as a state. As the nation continues to de-emphasize oil as the only source of revenue that we have, we can begin to export all of the talents that will be coming out of this place to the rest of Africa and the world.”
“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.
On his part, Dare said, “This whole project will not do everything. There is still going to be a whole lot more in the years ahead that people still need to do. But we are breaking all of the barriers, and addressing all of the challenges that we have.”
