National Theater Transformation’ll Unlock $25bn Creative Sector Income Potential — Cardoso

Governor Central Bank of Nigeria, CBN, has said that the transformation of the National Theater is a great catalyst for unlocking the $25 billion income potential of the creative sector.

Cardoso stated this while addressing the press in company of some banks’ Chief Executive Officers, after a tour of the upgraded National Theater following a N22 billion restoration and refurbishment project financed by the Bankers Committee.

Commending the Bankers Committee for the project, Cardoso said: “It is highly commendable, and one does have to commend the vision and the resources of the Bankers Committee for doing this.

“It’s been a long, hard road, and if it was not for the belief and the commitment of those sponsors, this would never be realized, and indeed, it would have been a great disservice to our country, because embedded in what we see here is a lot of the history and culture of the Nigerian people, and if it was not for the fact that they had the vision and were determined to surmount all the obstacles in getting here. We wouldn’t be here today.”

Speaking on the impact of the transformation of the National Theater in the larger economy, the CBN Governor said: “It is estimated that the creative sector can potentially generate about $25 billion. Okay, this, to my mind, will be a great catalyst for that to happen”.

Cardoso assured that the apex bank and the Bankers Committee would remain committed to the Lagos Creative and Entertainment Center, LCEC, which was commenced with the transformation of the National Theater.