National Theatre to create 25,000 jobs as bankers' committee takes over

Not less than 25,000 people would be engaged indifferent sections of work at the National Theatre when it is fully renovated by the Bankers Committee in the next 15 months, Central Bank of Nigeria(CBN) governor has said.

Emefiele said during the signing of the contract for the restoration and refurbishment of the National Arts Theatre was a product of the commitment of the CBN and Bankers’ Committee.

Speaking at the handover of the National Theatre to the Bankers’ Committee, Emefiele said: “Massive job creation in this upsurge of creative entrepreneurship starts now. We anticipate that there would be at least 10,000 direct and indirect jobs created during the construction of the Lagos Creative & Entertainment Centre.

“We also project that over 25,000 people would be engaged in different sections of the centre when the Signature Cluster is completed, with an anticipated multiplier effect of other job opportunities.”

The CBN governor added that the project was not just designed to restore the glory of an iconic building by aligning most of the fabric and equipment and facilities in the building with the aesthetics of the 21st century but to develop an ecosystem of creative hubs on the adjoining 44-hectare parcel of land.

According to him, the Bankers’ Committee will fund a prototype cluster located to the north of the National Arts Theatre, which is labelled the “Signature Cluster”.

“The Signature Cluster will consist of a building each for Music, Film, Fashion and Information Technology verticals. In addition to these, a Welcome/Visitor’s Centre, Police and Fire Stations, and structured parking for up to 500 vehicles will be built.

“Consequently, the 44 Hectare site adjourning the National Theatre will be developed and utilised for the development of purpose-built creative hubs for the Fashion Industry, Music and Film as well as Information Technology (IT).

“The aim is to deliver a successful Creative and Entertainment city that will encourage additional investment into Nigeria’s creative industry,” Emefiele stated.

The CBN governor named Cappa and D’Alberto Ltd as the main contractor, Nairda is the electrical subcontractor Ltd., while the Mechanical Sub Contractor is VACC Ltd.

He said the committee had gone through rigorous and transparent processes to arrive at these names, saying they are well-regarded names in the industry.

Besides, he said there were timelines and milestones which would be followed for successful completion and handover.