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Nigeria’s National Theatre Attracting FDIs, Ready November, Says Central Bank Chief Emefiele

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By Derrick Bangura 

Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele on Saturday said the Bankers’ Committee’s efforts to renovate and emplace a modern National Arts Theatre were yielding fruits as the monument as well as the creative industry were already attracting the interest of foreign investors.
Emefiele made this revelation during an assessment tour of the National Arts Theatre facility.
With him were the Lagos State Governor, Mr Babajide Sanwo-Olu; Minister of Information and Culture, Alhaji Lai Mohammed; Minister of Youth and Sports Development, Mr Sunday Dare; Group Managing Director/Chief Executive Officer, Access Bank Plc, Mr Herbert Wigwe; and the Group Chief Executive Officer (GCEO) of the Guaranty Trust Holding Company Plc (GTCo), Mr Segun Agbaje, as well as other stakeholders.
“I’m extremely elated to be here this afternoon on the occasion of the second inspection of this very big project. But again, we will not stop thanking Mr President, because it is his vision that we must provide some space for our youths in Nigeria, through the creative industry.
“What we are trying to do here is to do a total rejuvenation of Lagos State, by really redeveloping this masterpiece right at the centre of Lagos that will be linked with the rail to ensure this project works. For the avoidance of doubt, this project is costing the Bankers’ Committee, by the last estimate, about $100 million, and I must say that, yes, $100 million or more will be invested in this project, but it is going to be business where the monies will be realised again.
“I am happy that foreign investors are already showing interest and I want to place it on record that, we have received enquiries from investors in the United States, who have said that they are interested in taking a look at not just the National Arts Theatre, but also the creative opportunities that we are developing around here. So, I must say that this is exciting for us at the Bankers Committee and also at the Central Bank of Nigeria,” he said.
Speaking on the completion of the project, Emefiele noted: “Our target is that by the special grace of God, Mr President will commission the new National Arts Theatre by November. And we are hoping also on the day he commissions the new National Art Theatre; he is also going to lay the foundation for the four verticals – the music, the movie, IT as well as the fashion hub.”
According to him, “by the time president is about bowing out by May next year, he would come again and now re-commission not just the national asset, but the entire edifice comprising the four vertical hubs so that there will be immense business opportunities, enough of tourism, enough of creative sector businesses that will be generated, not just for Nigeria but particularly for our youths who have shown a lot of creative talents and we think we need to use this opportunity to harness it.
“I’m getting excited because we are hoping that sometime by the end of this year, there will be some programmes and global activities will be hosted in this complex. We would be talking to ArtX gallery and hopefully, by this year we can bring the ArtX exhibition into this complex because we know that by November, this place will be ready so that we can begin to bring this place back to us again and then put life into the tourism life in Nigeria and particularly in Lagos State,” he added”
On his part, the Minister of Information, Culture, Mohammed, promised that the National Theatre would be inaugurated by President Buhari in November to open the venue for reputable international events, guaranteeing that the full completion would happen before the president’s tenure elapses.
“It seems very hopeful now that the new National Theatre will host the United Nations, World Health Organisation sometime in November this year and also some other global events. From what you see, you may not appreciate half of what has gone on. I think we have crossed the Rubicon and by the time we come back in two months we will all see that a lot of work had been buried under,” he added.
On his part, the Minister of Youth and Sports Development, Dare said he was “excited about this and we look forward to November when it will be completed.”
Also commenting, Lagos State Governor, Sanwo-Olu said: “What all of this is about is creating that enabling environment. This whole project will not do everything. There is still going to be a whole lot more in the years ahead that people still need to do. But we are breaking all of the barriers, breaking all of the challenges that we have and we are writing this sector, we are writing their names in gold.”

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Noble Ladies Champion Women’s Financial Independence at Grand Inauguration in Abuja

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Women from diverse backgrounds across Nigeria and beyond gathered at the Art and Culture Auditorium, Abuja, for the inauguration and convention of the Noble Ladies Association. The event, led by the association’s Founder and “visionary and polished Queen Mother,” Mrs. Margaret Chigozie Mkpuma, was a colourful display of feminine elegance, empowerment, and ambition.

The highly anticipated gathering, attended by over 700 members and counting, reflected the association’s mission to help women realise their potential while shifting mindsets away from dependency and over-glamorization of the ‘white collar job.’ According to the group, progress can be better achieved through innovation and creativity. “When a woman is able to earn and blossom on her own she has no reason to look at herself as a second fiddle,” the association stated.

One of the association’s standout initiatives is its women-only investment platform, which currently offers a minimum entry of ₦100,000 with a return of ₦130,000 over 30 days—an interest rate of 30 percent. Some members invest as much as ₦1 million, enjoying the same return rate. Mrs. Mkpuma explained that the scheme focuses on women because “women bear the greater brunt of poverty” and the platform seeks “to offer equity in the absence of economic equality.”

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Education is also central to the Noble Ladies’ mission, regardless of age. Their mantra, “start again from where you stopped,” encourages women to return to school or upgrade their skills at any stage in life. The association believes that financial stability is vital in protecting women from cultural practices that dispossess widows of their late husbands’ assets, while also enabling them to raise morally and socially grounded families.

Founded on the vision of enhancing women’s skills and achieving financial stability, the association rests on a value system that discourages pity and promotes purpose. “You have a purpose and you build on that purpose to achieve great potentials and emancipation,” Mrs. Mkpuma said.

A criminologist by training and entrepreneur by practice, she cautions against idleness while waiting for formal employment. “There are billions in the informal and non-formal sectors waiting to be made,” she said, rejecting the “new normal of begging” and urging people to “be more introspective to find their purpose in life and hold on to it.”

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Mrs. Mkpuma’s management style keeps members actively engaged, focusing on vocational skills and training to prepare them for competitive markets. She is exploring “innovative integration of uncommon technologies” and is already in talks with international franchises to invest in Nigeria, with Noble Ladies as first beneficiaries.

The association’s core values include mutual respect, innovation, forward-thinking, equal opportunity, and financial emancipation. With plans underway to establish a secretariat in the heart of Abuja, the group aims to expand its impact.

The event drew high-profile guests, including former Inspector General of Police, Mike Okiro, and a host of VIPs, marking a significant milestone in the association’s drive for women’s empowerment.

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NEPZA, FCT agree to create world-class FTZ environment

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NEPZA, FCT agree to create world-class FTZ environment

The Nigeria Export Processing Zones Authority (NEPZA) has stepped in to resolve the dispute between the Federal Capital Territory Administration and the Abuja Technology Village (ATV), a licensed Free Trade Zone, over the potential revocation of the zone’s land title.
Dr. Olufemi Ogunyemi, the Managing Director of NEPZA, urged ATV operators and investors to withdraw the lawsuit filed against the FCT administration immediately to facilitate a roundtable negotiation.
Dr. Ogunyemi delivered the charge during a courtesy visit to the Minister of the Federal Capital Territory, Barrister Nyesom Wike, on Thursday in Abuja.
You will recall that the ATV operators responded to the revocation notice issued by the FCT administration with a lawsuit.
Dr. Ogunyemi stated that the continued support for the growth of the Free Trade Zones Scheme would benefit the nation’s economy and the FCT’s development, emphasizing that the FCT administration recognized the scheme’s potential to accelerate industrialisation.
Dr. Ogunyemi, also the Chief Executive Officer of NEPZA, expressed his delight at the steps taken by the FCT minister to expand the economic frontier of the FCT through the proposed Abuja City Walk (ACW) project.
Dr. Ogunyemi further explained that the Authority was preparing to assess all the 63 licensed Free Trade Zones across the country with the view to vetting their functionality and contributions to the nation’s Foreign Direct Investment and export drives.
“I have come to discuss with His Excellency, the Minister of the Federal Capital Territory on the importance of supporting the ATV to succeed while also promoting the development of the Abuja City Walk project. We must work together to achieve this for the good of our nation,” he said.
On his part, the FCT Minister reiterated his unflinching determination to work towards President Bola Ahmed Tinubu’s Renewed Hope Agenda by bringing FDI to the FCT.
“We must fulfil Mr. President’s promises regarding industrialization, trade, and investment. In this context, the FCT will collaborate with NEPZA to review the future of ATV, a zone that was sponsored and supported by the FCT administration,” Wike said.
Barrister Wike also said that efforts were underway to fast-track the industrialisation process of the territory with the construction of the Abuja City Walk.
The minister further said the Abuja City Walk project was planned to cover over 200 hectares in the Abuja Technology Village corridor along Airport Road.
According to him, the business ecosystem aimed to create a lively, mixed-use urban center with residential, commercial, retail, hospitality, medical, and institutional facilities.
He added that the ACW would turn out to be a high-definition and world-class project that would give this administration’s Renewed Hope Agenda true meaning in the North-Central Region of the country.
Barrister Wike also indicated his continued pursuit of land and property owners who failed to fulfil their obligations to the FCT in his determination to develop the territory.

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Benue IDPs block highway, demand return to ancestral homes

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Vehicular movement along the Yelwata axis of the Benue–Nasarawa highway was brought to a standstill on Wednesday as Internally Displaced Persons, IDPs, staged a protest, demanding immediate return to their ancestral homes.

The protesters, believed to be victims of persistent attacks by suspected herdsmen, blocked both lanes of the busy highway for several hours, chanting “We want to go back home”.

The protest caused disruption, leaving hundreds of motorists and passengers stranded.

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Eyewitnesses said the displaced persons, many of whom have spent years in overcrowded IDP camps, are expressing deep frustration over the government’s delay in restoring security to their communities.

“We have suffered enough. We want to return to our homes and farms,” one of the protesters told reporters at the scene.

Security personnel were reportedly deployed to monitor the situation and prevent any escalation, though tensions remained high as of press time.

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Efforts to reach the Benue State Emergency Management Agency, SEMA, and other relevant authorities for comment were unsuccessful.

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