The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has emphasized that the transformation of the National Theater will serve as a key driver in unlocking the $25 billion income potential of Nigeria’s creative sector.
Bankers Committee’s Role in the Project
Cardoso made this statement during a press briefing alongside Chief Executive Officers of various banks, following a tour of the revamped National Theater, which underwent a ₦22 billion restoration and refurbishment financed by the Bankers Committee.
Commending the initiative, Cardoso highlighted the vision, dedication, and resources committed by the Bankers Committee in executing the project.
“It is highly commendable, and one must recognize the vision and commitment of the Bankers Committee for making this a reality,” he stated.
He further noted that without the determination of those involved, the project would have remained unrealized, and Nigeria’s cultural heritage preserved within the National Theater would have been at risk.
Economic Impact of the Transformation
Addressing the impact on the broader economy, Cardoso emphasized that Nigeria’s creative sector holds the potential to generate approximately $25 billion, and the upgraded National Theater will act as a catalyst for realizing this growth.
Commitment to the Lagos Creative and Entertainment Center (LCEC)
Cardoso assured that the CBN and the Bankers Committee remain dedicated to the Lagos Creative and Entertainment Center (LCEC), a project initiated alongside the National Theater transformation to further drive economic growth in the creative and entertainment industries.