FG HANDS OVER NATIONAL THEATRE TO CBN, BANKERS COMMITTEE – TO COMMENCE THE RENOVATION OF THE FACILITY ~ The Press Tv
The Federal Government has announced the official hand over of the National Arts Theatre Complex at Iganmu Lagos, to the Central Bank of Nigeria (CBN) and the Banks under the aegis of the Bankers’ Committee, in order to commence the renovation of the facility.
The information and culture ministry has handed the National Theatre over to the Central Bank and the Bankers Committee in a deal that will see the monument renovated in a N25 billion deals.
Information minister Lai Mohammed insisted the entire and the adjoining 134-hectare fallow land around was only being given over for renovation work in a public private partnership.
The National Theatre has had no major renovation in the last 40 years. It was established to encourage performing arts countrywide and create opportunities for artistes. It was also meant to aid promotion of social development.
The monument, located at Iganmu, Surulere, Lagos,was completed in 1976 in preparation for the Festival of Arts and Culture (FESTAC) in 1977. The collection of National Gallery of Modern Nigerian Art is housed in a section of this building.
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