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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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INEC Brings Forward 2027 Polls, Fixes January 16 for Presidential Election

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INEC
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The Independent National Electoral Commission (INEC) has rescheduled Nigeria’s 2027 general elections, fixing January 16, 2027, for the presidential and National Assembly polls.

The commission also announced that February 6, 2027, will now hold the governorship and State Houses of Assembly elections across the country.

The new timetable was disclosed on Thursday by Mohammed Haruna, National Commissioner and Chairman of the Information and Voter Education Committee, in an official statement.

Why the Shift?

INEC had earlier slated the presidential and National Assembly elections for February 20, 2027, while governorship and state assembly polls were scheduled for March 6, 2027.

However, the commission said it was compelled to adjust the schedule following the repeal of the Electoral Act, 2022 and the enactment of the Electoral Act, 2026, which introduced new legal and administrative frameworks guiding the conduct of elections.

According to the commission, aligning the electoral calendar with the provisions of the new law became necessary to ensure compliance, adequate preparation, and seamless implementation of reforms embedded in the 2026 legislation.

Implications for Political Parties

The revised dates effectively shorten the timeline for political parties, aspirants, and stakeholders preparing for the 2027 race. Parties are now expected to recalibrate their primary elections, campaign strategies, and logistics to meet the updated electoral window.

Political observers say the earlier schedule may also intensify early mobilization efforts, fundraising drives, and coalition talks among major contenders ahead of what is expected to be a fiercely contested general election.

INEC Assures Readiness

INEC reiterated its commitment to conducting free, fair, and credible elections under the new legal framework. The commission urged political actors and the electorate to take note of the revised timetable and cooperate to ensure a smooth electoral process.

With the 2027 general election cycle officially recalibrated, attention now shifts to how political parties and key stakeholders will navigate the compressed timeline under the new Electoral Act regime.

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Ibom Air Passenger Who Slapped Crew Lands in Kirikiri!

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In a dramatic twist to an in–flight scandal, Comfort Emmanson — the passenger accused of assaulting airline staff during an Uyo–Lagos Ibom Air flight — has traded her trip for prison bars.

The incident, which shocked fellow passengers, has now culminated in her being charged to court and remanded at the notorious Kirikiri Correctional Centre in Lagos.

Tunde Moshood, Special Adviser on Media and Communications to Aviation Minister Festus Keyamo, SAN, broke the news on Monday via his official X handle.

“The more reason the flying public should be more careful… the unruly passenger on the Uyo–Lagos bound Ibom Air, Miss Comfort Emmanson, has been charged to court and she’s now cooling off in Kirikiri,” Moshood revealed.

Witnesses say the altercation left crew members shaken, sparking renewed calls for stricter penalties for in-flight misconduct.

 

 

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NASS Passes ₦54.99trn 2025 Budget

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National Assembly Complex Abuja.
National Assembly Complex Abuja.
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The National Assembly on Thursday passed the ₦54.99trn 2025 Appropriation Bill.

The bill was passed separately by the Senate and the House of Representatives.

A breakdown of the budget showed N3.645trn for statutory transfers, N14.317trn for debt servicing, N13.64trn for recurrent expenditure and N23.963trn capital expenditure (development fund), with fiscal deficit put at N13.08trn.

The Deficit-to-Gross domestic product (GDP) Ratio was put at 1.52%.

Last Week, President Bola Tinubu increased the 2025 fiscal year budget from an initial N49.7trn to N54.2trn, seeking approval from the Senate and the House of Representatives.

The Chairman of the House Committee on Appropriations, Abubakar Bichi, while presenting the bill for consideration, stated that the committee met with the Presidential Economic Planning team to further discuss revenue projections and expenditure for the 2025 Appropriation Bill.

According to him, the 2025 Appropriation Bill was presented late, compared to that of 2024.

He urged the executive to present subsequent budgets to the National Assembly not later than three months before the next financial year, to maintain the January to December budget cycle.

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