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National Art Theatre remodeling require another $100m – Emefiele

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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
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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.

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SON insist on international best practices, set-up committee to audit, certify education sector

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In ensuring that educational management system in the country deliver on their mandate of impacting knowledge and skills, the Standards Organization of Nigeria (SON) has inaugurated national technical committee for adoption and certification of education management standards.

At the inauguration in Abuja, Farouk Salim, Director General of SON, said one of the challenges facing Nigeria has been international standards both in products and services delivery, which is why the organisation is aligning to best international practice.

“One of SON mandate is to support all businesses in determining quality of products/services using ; standardization, certifications and quality assurance. As such our decision to adopt this international standard on educational organizations management system ISO 21001:2018 is apt at this time when we have opened our borders to all forms of trade with other African countries.

“It is important that we promote and sustain our learning institutions by ensuring that the services that are provided in our schools meet the needs of learners, promote equal opportunities for all students and earn the confidence and approval of learners’ sponsors in order to contribute their quota to national growth and development,” he said.

Salim, represented by Engr. Timothy Abner, Director Training services at the SON added that although government is doing a lot to upgrade the standard of products and the education sector, he however also noted there should be additional effort of adopting and establishing this international best practice will assist Nigeria to always deliver globally recognized services and products in different sectors of the economy.

The Committee is to draw up requirements for bodies providing audit and certification of educational organizations management systems.

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Breaking: Ex-Police IG, Tafa Balogun dies

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Ex IGP, Tafa Balogun
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A former Inspector General of the Nigerian Police Force, Tafa Balogun is dead, firstweeklymagazine reports.

Balogun, who was eased out of office by the then President Olusegun Obasanjo over corruption allegations, reportedly died of heart related diseases in Reddington Hospital, Lagos today Thursday August 4, 2022.

Sources said he had been down for a while before passing on moments ago.

He was 75 years old.

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Insecurity: PDP Senators stage walkout, calls for Buhari Impeachment

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Senate in Session
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The Senate caucus of People Democratic Party today stage walkout from plenary session giving President Muhammadu Buhari six months to address mounting security challenges confronting  the country or face impeachment process.

The crisis started when Minority Leader of the Senate Philip Adudua called the attention of Senate President , Ahmad Lawan to the resolution of the Lawmakers to serve the President Buhari Impeachment notice if there is no improvement in Security situation after a period of time.

However, Lawan blocked the move by Senator Adudua a development that led to the walking out of chamber by the Opposition Lawmakers.

Speaking with Journalists at the National Assembly Complex, the Minority Leader of the Senate Philips Adudua said the security challenges has overwhelmed the President.

He explained that Abuja, the Federal Capital Territory is under threat of Bandits and terrorists .

According to the Minority Leader, Senate has passed so many resolutions which were aimed to address the insecurity challenges in the Country.

More details soon

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