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National Theater To Generate One Million Jobs In Five Years - Emefiele



National Theater Iganmu Lagos To Generate More Jobs
The Central bank Governor Godwin Emefiele has declared that the National Theater Center will generate more than 1 million Jobs in the next five years, if properly rehabilitated.

This was made public during the leasing of the National Theater Iganmu, Lagos, by the CBN governor.

Mr Emefiele however noted that the project will aid the youths of the Country in securing realizing their potentials across different sectors and equally boost the economy. While fulfilling the vision of the President in job creation.

The Governor through the CBN twitter handle, stated that the realization of the young's talent accrues through creative industries and in turn builds a well grounded economy. "The Creative Center, which comprises Music, Movies, Fashion and ICT can be a source of growth for our economy.

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"Nigeria has the potential to earn over $20bn annually from the creative industry" he said.

He opined that the National Theater should serve as an emulator for cities like Kano, Port Harcourt  and Enugu to follow.

In addition to that, when fully completed will be able to avail more than 1 million jobs in the space of five years.

Meanwhile, Mr Emefiele has guaranteed that Youths with creative skills will be freely sponsored with high-tech tools to enable them reach their goals.

According to him "Nigerians will be empowered with funds at single digits interest rate, high level training using state- of-the-art tools, and networks, that will enable them turn their ideas into a reality".

An Excerpt From The National Theater Lagos

Sunday 12th, July 2020, witnessed the handing over of the edifice to the Central Bank of Nigeria, by the Minister of Information and Culture, Alh. Lai Mohammed. In his statement, the Minister waved off the news making round the media, on the ceding off of the National Theater to a certain person or group, tagging it as false and the hand work of mischief makers.

The Minister however maintained that the handover of the structure to CBN and the banking community is a way of bringing back to life the building, boasting that his Ministry is still in possession of the keys to NTIL, on behalf of all Nigerians.

The ceremony grazed the presence of Lagos State, Mr Babajide Sanwo-Olu, his Deputy, Dr Obafemi Hamzat, Minister of Youths and Sports development, Mr Sunday Dare, CBN Governor, Godwin Emefiele, Chaiman of the committee of banks, Mr Herbert Nwigwe; Deaconess Isu Gekpe, Permanent Secretary, Ministry of Information and Culture.

In his remark, Lai Mohammed claimed that the #25bn project is of two phases. Phase one, for upgrade and restoration which will cost #7bn, and phase 2, which is for the development of the surrounding which will cost #18bn.

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escribing the handover as a memorable one, he gathered that over forty years, the theater stopped functioning and the land unused due to government inability to finance the project. Adding that the project will fetch jobs rather than loosing it.


"The good news is that this project will not lead to a single job loss. Instead, it will create more. Some 6,000 jobs will be created during the construction phase, while the completed project could generate up to an additional 600 permanent and 2000 to 3000 call-on/call-off jobs. This is as good as it gets" he said.

More so, the edifice which has housed many artistes in the likes of Fela Kuti, Steve Wonders, Dynasty among others. Also event like D.O by Wole Soyinka and the other government functions has failed in it's purpose.

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Finally, the Minister highlighted the structural architecture of the building giving each stage the components.

His words "Highlights of the first phase include the upgrade of the theaters (the main halls and the cinema halls, conference and banquet halls, press hall and the bar).

"Installation of new seats, upgrade of the sanitary facilities, installation of lifts, acoustics and specialist lightings, as well as replacement of the air conditioning, lighting and plumbing.

"Phase II will involve the development of purpose-built clusters to provide World class facilities for Nigeria's Creative Industry, with the clusters having four hubs, Fashion, Music, Film and Information and Technology (IT) hubs.

"The Creative Clusters will be supported by other facilities, including multi-storey parking to accommodate 1,000 cars, a Visitors Welcome Centre which will house commercial and retail facilities, as well as administration and management offices.

"The project is expected to be completed in 18 months"he concluded.

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