The Minister for Culture and Information, Alhaji Lai Mohammed has on Sunday in Lagos, handed over the National Theater to the Central Bank of Nigeria and the Bankers committee for restoration and upgrade.

He said at the event that the National Theater, despite the arrangement, still remained a national heritage.

According to the Minister, the Federal Ministry of Information and Culture would continue to hold the keys to the iconic national heritage in spite of the Public-Private Partnership arrangement between FG and the Bankers Committee.

”Please permit me to make clarifications that this iconic National Theater remains a national heritage and will not be ceded to any person or group as some naysayers are insinuating, it remains our national heritage.

”The Federal Ministry of Information and Culture will continue to hold the keys to the National Theater on behalf of all Nigerians.

”What we are here to do is to hand over the National Theater for restoration and upgrade and also the 134 hectares of fallow land within the premises to the Central Bank of Nigeria and the Bankers committee for development,” he said.

”Another good news is that this project will not lead to any single job loss rather, it will create more, over 6,000 jobs will be created during the construction phase while the completed project could generate additional 600 permanent jobs and 2000 to 3,000 jobs, this is a good one,” he said, adding that the project which had been approved by President Muhammadu Buhari would be a win-win arrangement for everyone involved.

”The place had been left for over four decades without any form of renovation. Government has no money to restore the complex as you know this is the hub of the creative industry in Nigeria.

The Minister for Youths and Sports, Sunday Dare, said that it was a privilege for him to be at the event which would see revamping the creative and entertainment center.

He said many would wonder why the Minister for Youths was at the event forgetting that the youth would benefit more from the project as they are the most active part of the creative industry.

“The potential of the new National Theater is massive job creation, talent discovery for our youths and the coming generation being an information and technology hub.

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