The Minister stated this in Lagos on Sunday during the formal handover of the edifice and the adjoining 134-hectare fallow land to the Central Bank of Nigeria and the Bankers’ Committee in Lagos.
Mohammed said the 25-billion-naira project, tagged the Lagos Creative and Entertainment Centre Project, is a Public-Private Partnership that will be executed in two phases, with Phase 1 being the restoration and upgrade of the National Theatre to its glory days at a cost of N7b, and Phase II of the development of the adjoining fallow land at a cost of N18b.
“For over 40 years, no major renovation work has been done on the National Theatre, while the adjoining land has been lying fallow. Many attempts to restore the National Theatre have failed. And the Government has no money to restore the complex.
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