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Bankers’ Committee Completes $100M Renovation of National Theatre, Reigniting Nigerian Culture

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The National Arts Theatre- investorsking

The National Theatre in Lagos, a historic symbol of Nigeria’s artistic and cultural heritage, has been given a new lease on life following the completion of a $100 million renovation funded by the Bankers’ Committee.

After nearly two years of extensive renovation, the iconic monument is now poised to become a global cultural destination.

In a statement issued on Wednesday, the Bankers’ Committee announced the successful completion of the massive renovation and upgrade of facilities at the National Theatre, a significant milestone in the effort to revive Nigeria’s cultural identity and support the burgeoning creative sector.

The renovation, which began in July 2021 after being approved by the Federal Government, involved upgrades to nearly every aspect of the theatre.

This included the restoration of the 4,000-seater main bowl, the over 3,000-seater banquet hall, exhibition halls, cinemas, VIP spaces, actors’ changing rooms, an industrial kitchen, and more than 300 new toilet cubicles.

Other upgrades include a new clinic, a fire station, lobbies at the theatre’s four entrances, and extensive roof repairs.

Speaking during a tour of the renovated theatre, Mr. Abubakar Suleiman, Managing Director/CEO of Sterling Bank Group, who represented the Bankers’ Committee, expressed his awe at the scale of the project.

“We were shocked at the scale of the work that needed to be done,” Suleiman said. “But we were also impressed by the possibilities that it represented. This is one of the largest scaled projects of its kind anywhere on the continent.”

The renovation wasn’t just about restoring the physical structure; it was about reigniting hope and breathing new life into Nigeria’s cultural and creative landscape.

“The renovation of the National Theatre showcases what is possible with patriotism and collective responsibility from the private sector, in collaboration with the Federal and Lagos State Governments,” Suleiman said.

The extensive refurbishment has elevated the National Theatre to world-class standards, creating a space capable of hosting international events, performances, and conferences.

Some of the most significant upgrades included the replacement of the entire heating, ventilation, and air conditioning system, the enhancement of fire safety standards, and the overhaul of power, water supply, and sewage systems.

The theatre’s interior design was also modernized, with the installation of advanced audio-video lighting and world-class stage engineering systems, as well as the installation of 17 passenger lifts to improve accessibility.

In addition, the Bankers’ Committee ensured the sustainability of the monument by installing solar power systems, restoring priceless artworks that adorn the internal walls and building façade, and installing new furniture throughout the various spaces.

Beyond the interior renovations, external works were also carried out, including the refurbishment of three entrance gatehouses, the construction of four themed landscapes, a new car park capable of accommodating 250 vehicles, a ring road, and the installation of external street lighting and CCTV cameras for enhanced security.

During the tour, Mrs. Kafilat Araoye, Managing Director of Lotus Bank Ltd, described the renovation as a “rebirth of a national treasure and the restoration of Nigeria’s cultural and artistic heritage.” She added, “We are very excited about the completion of this project, and we are indeed very proud of the work we have done here.”

Lagos State Governor, Mr. Babajide Sanwo-Olu, also lauded the project and the potential of the revamped theatre.

“Upon completion, the Wole Soyinka Centre for Culture and the Creative Arts (National Theatre) will not only serve as a hub for arts, tourism, and culture but will also become a venue for the international community to convene for conferences and enjoy world-class performances,” Sanwo-Olu said.

The National Theatre was originally constructed in the 1970s under the military regime of General Yakubu Gowon and completed in 1976 during the administration of Olusegun Obasanjo.

It was a key venue for the Second World Black and African Festival of Arts and Culture (FESTAC 77) held in January 1977, solidifying its place as a cultural landmark.

Now, after decades of neglect and decline, the $100 million renovation project has restored the theatre to its former glory, with new possibilities for Nigeria’s creative industries.

By breathing new life into this iconic structure, the Bankers’ Committee has not only preserved a piece of Nigerian history but also opened the door to a future where the nation’s rich cultural heritage can continue to flourish on the global stage.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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BREAKING: Sowore Released Few Minutes After His Arrest at MMA

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Omoyele Sowore - Investors King

Nigerian activist and former presidential candidate Omoyele Sowore was briefly detained by the Department of State Services (DSS) this morning at Murtala Muhammed International Airport in Lagos upon his return from the United States.

His passport was confiscated as part of a broader crackdown by the government in light of planned protests under the #EndBadGovernance protest. However, after a short period, Sowore was released.

“I have just been released. My passport and everything have been returned to me,” Sowore told reporters after his release.

Sowore had been with his family in the United States.

His flight left the Washington Dulles International Airport at 6.14 EDT and arrived in Lagos at around 9.43 WAT.

More Details Shortly…

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FG Begins Distribution of CNG Conversion Kits to Ogun Commercial Drivers

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The Presidential Compressed Natural Gas Initiative (P-CNGi) on Saturday began inspection, distribution and installation of CNG kits to commercial motorists in Ogun.

Five hundred CNG cylinders and kits were distributed to three centres in the state.

Speaking at one of the conversion centres in Abeokuta, Olugboyegba Ademehin, the director of Vehicle Inspection Services at the state Ministry of Transportation, said the main concern was to first inspect vehicles fit for conversion.

Mr Ademehin said any vehicle certified okay for conversion would be given a kit for onward conversion.

He said 60 cylinders, comprising 10 units of 75 litres and 50 units of 65 litres cylinder kits, would be distributed at the Ogun Public Works Agency, Agbeloba Centre.

According to him, the 75-litre cylinder can cover up to 150 kilometres of a journey.

He said the centre would cater for other public members in the coming months.

Speaking on safety, Mr Ademehin said the cylinders were moulded and not welded, hence, the thickness, which assured of its strength and fireproof properties.

He said the cylinders, with 60 millimetres thickness, had been certified by the Standards Organisation of Nigeria (SON).

The director said there were two filling stations for the CNG in Abeokuta.

“We, in Ogun state, through the initiative of the governor, have begun conversion before now because we prioritise the cleaner environment, and that is why we have our CNG buses that have been plying the city.

“We didn’t even know that petrol would be this expensive, and CNG is cheap and cost-effective for motorists, and of course, eases transportation costs for the masses,” he said.

Also speaking, Ali, the operations manager of Nigerian Gas and Transport Solutions Ltd., noted that the gas industry was still underutilised in Nigeria.

Mr Manager expressed optimism that the CNG initiative would ensure that the country maximised the potential of natural gas resources.

In his remarks, Ismail Adewale, chairman of the National Union of Transport Workers (NURTW) in Ogun, commended the federal government for the initiative.

(NAN)

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Ethiopian Airlines Expands African Reach with a New Port Sudan Service

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Ethiopian Airlines is delighted to announce the launch of a daily flight service to Port Sudan, Sudan, commencing on October 15, 2024.

This strategic expansion further strengthens Ethiopian’s commitment to enhancing connectivity across the African continent and beyond, fostering regional socio-economic growth and facilitating trade and tourism.

The new route will provide seamless travel options for passengers traveling between Ethiopia and Sudan, as well as connecting travelers from across the vast Ethiopian Airlines network to this significant Red Sea port city.

The introduction of this service underscores Ethiopian’s dedication to serving the evolving needs of the African market and contributing to the continent’s economic development. By connecting Port Sudan to
its extensive global network, Ethiopian Airlines aims to unlock new opportunities for businesses, travelers, and communities, promoting cross-border collaboration and cultural exchange.

The inaugural flight, ET350, will depart from Addis Ababa at 11:00 and arrive in Port Sudan at 12:15. The return flight, ET 351, will leave Port Sudan at 14:15, arriving back in Addis Ababa at 17:30. Both flights will be operated by the state-of-the-art Boeing 737 Max aircraft, ensuring a comfortable and reliable journey.

“We are pleased to connect our Sudanese brothers and sisters from Port Sudan to Addis Ababa,
and to the rest of the world using our extensive global network,” says Mesfin Tasew, Group CEO of Ethiopian Airlines.

“By introducing daily flights to Port Sudan, we are bridging cultures and economies. This expansion is a testament to our unwavering dedication to serve our continent and its people, driving progress and prosperity through the skies.”

With the inclusion of Port Sudan, Ethiopian Airlines expands its network to 66 destinations within Africa. The inauguration of this new route emphasizes Ethiopian Airlines’ dedication to broadening its presence throughout Africa, while simultaneously enhancing connectivity for both business and leisure travelers.

Port Sudan, a city strategically situated along the Red Sea, acts as an essential center for commerce and economics in the region. This development offers a gateway to the diverse cultural
history and burgeoning economic prospects of Sudan.

Ethiopian Airlines invites passengers to experience the warmth and hospitality of its newest destination, Port Sudan. Book your journey today and be part of the growth story that is Ethiopian Airlines – the New Spirit of Africa.

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