FG HANDS OVER NATIONAL THEATRE TO CBN
The Federal Government has handed over the National Theatre, Iganmu, Lagos State, to the Central Bank of Nigeria and the Bankers’ Committee for repair and rehabilitation.
During the handing-over ceremony, the CBN Governor said the Bank was aiming to create one million jobs from the project in the next five years.
The event was attended by the Governor of Lagos State, Babajide Sanwo-Olu, and the Minister of Information and Culture, Alhaji Lai Mohammed.
Emefiele said after the renovation works at the National Theatre is done, the banking sector intended to set up similar creative industries centres in Kano, Port Harcourt, or Enugu.
According to him, supporting facilities including a hotel and an expansive conference centre would be built.
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While thanking the Federal Government for its support, he said, the goal for the National Theatre is to create an environment where startups and existing businesses are rewarded for their creativity.
The CBN Governor said the National Theatre will be able to support skills acquisition and job creation for over one million Nigerians in the next five years.
“These Nigerians will be empowered with funds at single-digit interest rate, high-level training, using state-of-the-art tools and networks that will enable them to turn their ideas into reality.
“When they are able to achieve their objective of creating a new music product, a high-quality movie, an IT software application, or a fashionable outfit, the Bankers’ Committee will work to ensure that they are able to distribute their work on a larger scale,” Emefiele said.
Towards the realization of this objective, he said the Bankers’ Committee intended to support the creative venture with about N25bn of initial funding.
Emefiele said the Creative Industries Financing Initiative (CIFI) was a critical factor behind the committee’s decision, following its annual retreat in December 2018 to set up the CIFI with a major focus on four pillars.
He added that the pillars were music, movies, fashion, and information technology.
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