FG, LASG, and the 22 Billion Creative Industries and Financing Initiative (CIFI) Join Hands to Create Millions of Jobs for Nigerians.

Coat of arms

The 22 billion creative industries and financing initiative (CIFI) championed by the CBN and banker’s committee is in line with the Federal Government’s vision of lifting 100 million people out of poverty. The project which is planned for Lagos, Enugu or Port Harcourt and Kano, are expected to create millions of direct and indirect jobs for Nigerians.

The CBN Governor, Godwin Emefiele and the Lagos State Government’s team, were on ground in Lagos to access the National Arts Theatre, Lagos, ahead of the new investment plan that includes building a creative industry park at the theatre.

In the assessment team were, Lagos State Governor, Babajide Sanwo-Olu, his Deputy, Dr. Obafemi Hamzat, CBN Governor, Godwin Emefiele, Permanent Secretary, Lagos State Land Bureau, Bode Agoro and CBN Director of Corporate Communications, Isaac Okorafor.

The Tour was targeted at accessing the state of the facility meant to benefit from N22billion (CIFI). 

Speaking during the assessment in Lagos, Emefiele said there is a new plan to build a Hub around the Theatre to benefit the youths that want to do fashion, movie, information technology and entertainment.

He said “I can imagine what this place will look like in another two years. Every weekend if there will be something happening, it will boost the tourism of Lagos State and Nigeria”.

Emefiele thanked the Federal Government, Lagos State Government and Federal Ministry of Information and Culture, for giving the CBN and Bankers Committee, the opportunity to develop the facility for the good of Nigeria and Nigerians.

Also speaking, the Lagos State Governor, Babajide Sanwo-Olu, said the team had worked around the entire land area of the National Arts Theatre and had appreciated the extent of the asset conceived as a non-earning asset. 

He said President Muhammadu Buhari had given a go ahead to turn the dead assets into an income earning state of the art facility for entertainment, fashion, music, technology, movies and an all-round creative hub.

“We have gone around to ascertain for ourselves the piece of land measuring in excess of about 30 hectares which currently as you can see, is all swamp,” Sanwo-Olu said.

He said the essence of the assessment was to also enable the team give a go ahead to the development partners led by Emefiele, who is putting investments together to make the project a success.

Sanwo-Olu reiterated that, the site will be made a tourism, technology and entertainment destination for the future, where the youth of Nigeria can come and exhibit all their God-given skills and talent and even be able to bring up new ones and turn it into a hub where all Nigerians can be truly proud of.

Lagos State Deputy Governor, Obafemi Hamzat said, “We all know when this place was built, at least we were young. All sorts of musicians, the best of them were here. We are trying to restore it. I don’t think any Nigerian will be against it. So, it is a win-win for everybody. We want to raise it back to the level it was before and even better so that more Nigerians can be employed.