Connect with us

Breaking

National Art Theatre remodeling require another $100m – Emefiele

Published

on

L-R: Minister of Sports, Youth and Development, Sunday Dare; Minister of Information and Culture, Alhaji Lai Mohammed; Governor, Central Bank of Nigeria, Godwin Emefiele and Lagos State Governor, Babatunde Sanwo-Olu, during the inspection of the ongoing rehabilitation of the National Theatre Complex in Lagos on Saturday
Share

National Art Theatre remodeling require another $100m – Emefiele

With about $100 million already committed in the redevelopment of the National Theatre Lagos, the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has said that the project will still require another $100 million from the Bankers Committee and the CBN.

Emefiele said this in Lagos on Saturday when he led members of the Bankers’ Committee on inspection of the project. Also joined in the inspection was the Lagos State Governor State, Babajide Sanwo-Olu; Minister of Information and Culture, Alhaji Lai Mohammed and his counterpart at the Ministry of Sports and Youth Development, Sunday Dare.

He said the remodeled national heritage would be commissioned by President Muhammadu Buhari in November, during which the foundation-laying ceremony of the four adjoining verticals – music, movie, information technology and fashion hubs – would be done.

Emefiele said: “What we are doing is a total rejuvenation of Lagos State by redeveloping the masterpiece right in the centre of Lagos and linking it with the rail.

“This project cost the Bankers’ Committee, by our last estimate, about $100m. So, I must say that $100m or more will be invested in the project”.

Mr Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN) Governor, has said that the National Arts Theatre, under redevelopment, has started attracting foreign investors’ interest, especially from the United States.

Emefiele, assured that the investment would not go down the drain as every kobo spent in putting life into the 44-year-old complex would be recouped.

He disclosed that the remodeled national heritage, has started attracting foreign investors’ interest, especially from the United States.

“It is a business where the money would be realised. I am happy that foreign investors are already showing interest, we have received inquiries even from the United States from investors who are not only interested in the National Arts Theatre but also the creative industry that we are developing,” Emefiele said.

On his part, Lagos State Governor, Babajide Sanwo-olu, appreciated the Bankers’ Committee for their commitment to the project and expressed confidence that the new theatre would increase Nigeria’s competitiveness in the international creative industry.

Sanwo-olu, said the Hip-hop Award being hosted in Atlanta, the United States, in July was taken outside the country “because there is no place like the National Arts Theatre.

“That will be the last time that that will happen. Subsequently, we will bring Americans back to the new National Arts Theatre.

“Now you can see that there is a lot of restoration, there are a lot of new things that are coming in and I can assure you that it will be comparable to any facility of its kind anywhere in the world,” Sanwo-olu stressed.

The Governor, further said he is is optimistic that this in itself can further help Nigeria to deepen its Gross Domestic Product (GDP) and continue to de-emphasise oil as the only source of revenue.

“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,” Sanwo-olu stated.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Breaking

Abducted Oyo Pupils, Teachers Regain Freedom After Security Operation – Presidency

Published

on

The School Children and Teachers
Share

 

The Presidency has confirmed the release of the schoolchildren and teachers who were abducted by suspected bandits in Oriire Local Government Area of Oyo State.

The victims regained their freedom following coordinated efforts by Nigeria’s security agencies, according to a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga.

Onanuga said the successful rescue operation underscores the commitment of the Federal Government and security agencies to ensuring the safety of citizens and tackling criminal activities across the country.

Although details of the rescue operation were not immediately disclosed, the presidential spokesperson commended the security personnel involved for their professionalism and dedication in securing the release of the abducted pupils and their teachers.

The victims were kidnapped in Oriire Local Government Area, an incident that sparked widespread concern and renewed calls for stronger security measures to protect schools and communities from criminal attacks.

The Presidency reaffirmed the administration’s resolve to intensify efforts against kidnapping, banditry and other forms of insecurity, while assuring Nigerians that security agencies will continue to pursue those responsible for the abduction and bring them to justice.

The release of the pupils and teachers has been welcomed as a significant relief for their families, the affected community and the Oyo State Government. Authorities are expected to provide further details on the rescue operation and the condition of the freed victims.

Continue Reading

Breaking

Senate Passes Bill to Establish State Police Across Nigeria

Published

on

Senate in Session
Senate in Session
Share

 

The Senate on Wednesday passed a constitutional amendment bill seeking to establish state police services across the federation, marking a significant step in ongoing efforts to reform Nigeria’s security architecture.

The bill, titled the Constitution of the Federal Republic of Nigeria (Alteration) (State Police) Bill, 2026, was considered and approved after extensive debate by lawmakers during plenary.

More to come

Continue Reading

Breaking

INEC Declares Oyebanji Winner of Ekiti Governorship Election, Secures Landslide Re-election

Published

on

Ekiti State Governor,Biodun Abayomi Oyebanji
Share

 

Governor Biodun Oyebanji of the All Progressives Congress (APC) has been declared the winner of the 2026 Ekiti State governorship election by the Independent National Electoral Commission (INEC), securing a decisive victory across the state’s 16 local government areas.

The official declaration was made in the early hours of Sunday by the Returning Officer for the election, Professor Adenike Oladiji, Vice-Chancellor of the Federal University of Technology, Akure, at the state collation centre.

Announcing the final results at about 3:13 a.m., Oladiji stated that Oyebanji polled a total of 319,224 votes to emerge victorious, defeating other contenders in the keenly contested election.

According to the results released by INEC, the candidate of the Peoples Democratic Party (PDP), Oluwole Oluyede, garnered 40,543 votes to finish second, while Dare Bejide of the African Democratic Congress (ADC) secured 12,872 votes.

The Returning Officer disclosed that 384,940 voters were accredited for the election conducted across the state on Saturday. She added that 375,777 valid votes were recorded, while 6,332 votes were rejected, bringing the total number of votes cast to 382,109.

“That Biodun Abayomi Oyebanji, having satisfied the requirements of the law and scored the highest number of votes cast, is hereby declared the winner and returned elected,” Oladiji announced.

Oyebanji’s victory marks a significant endorsement of his administration by the electorate, as the incumbent governor secured an overwhelming majority of votes across the state.

The governorship election attracted widespread attention, with political stakeholders and observers closely monitoring the process. Voting generally proceeded peacefully across most parts of Ekiti State, although there were reports of technical challenges and allegations of irregularities in some locations during the exercise.

Security agencies maintained a strong presence throughout the election period, while election officials worked to ensure the smooth conduct of the poll.

The declaration officially concludes the 2026 governorship election process in Ekiti State and paves the way for Oyebanji to continue in office for another term as governor.

Continue Reading