The Federal Government has awarded the N21.3 billion National Arts Theatre renovation project to Cappa & D’Alberto Limited and would be competed in 15 months.
The Governor, Central Bank of Nigeria, Godwin Emefiele, said the Electrical Sub Contractor will be handled by Nairda Limited, while VACC Limited will be in charge of the Mechanical Sub Contractor.
He made this known in Lagos on Sunday during the signing of Memorandum of Understanding (MoU) for the handing over of the National Arts Theatre to the Bankers’ Committee.
He said the signing of the contract for the restoration and refurbishment of the National Arts Theatre, Iganmu, Lagos would provide jobs for over 25,000 to 30,000 people and unlock creative talents in the fields of music, movie, fashion and information technology.
He said the aim was to deliver a successful creative and entertainment city that would encourage additional investment into Nigeria’s creative industry.
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According to him, the second phase of the project will also be awarded in the next few weeks, assuring that the completed projects will be inaugurated by President Muhammadu Buhari before leaving office in 2023.
He added that the remodelling would restore the glory of an iconic building by aligning most of the fabric and equipment and facilities in the building with the aesthetics of the 21st century.
The CBN Governor said the Bankers’ Committee would be funding a prototype cluster located to the north of the National Arts Theatre, labelled the “Signature Cluster” consisting of a building each for Music, Film, Fashion and Information Technology verticals.
In addition to these, he said a welcome/visitor’s centre, police and fire stations, and structured parking for up to 500 vehicles will be built.
