Features Tourism News National Theatre Renovation: Tinubu, Sanwo-Olu Reopen Wole Soyinka Centre for Nigeria’s Creative Economy Rex ClarkeOctober 3, 20250651 views The official reopening of Nigeria’s renowned National Theatre, now known as the Wole Soyinka Centre for Culture and the Creative Arts, located in Iganmu, Lagos, celebrates an important event following a prolonged period of neglect and decline. In the past, the stunning structure served as a representation of Nigeria’s abundant cultural heritage, as it was the location of the renowned FESTAC ’77. Nevertheless, it had deteriorated to the point of being a disgusting act of negligence. However, a strong partnership between the Federal Government, Lagos State Government, and large corporations, led by the Central Bank of Nigeria (CBN) and the Bankers’ Committee, has breathed new life into this national monument. This partnership has transformed the monument into a world-class cultural and creative hub. There was a plea for national unity and a favourable image of the country during the inauguration that took place on Wednesday night, shortly after the anniversary of Independence Day. President Bola Tinubu and Lagos State Governor Babajide Sanwo-Olu made their statements during the event. A Shining Example for the Creative Economy and the Renewal of the Nation Tinubu, the president of Nigeria, assured the country’s people that the nation would not disintegrate and emphasised his dedication to a “strong, vibrant economy”. He pleaded with people to stop portraying Nigeria in a negative light. He instructed them to “boldly and proudly project that we should They should work together to positively improve the nation’s image and build unity. The president was convinced that people would stop portraying Nigeria in a bad light. A substantial amount of work was required for the refurbishment, which involved more than just repairing items. According to Olayemi Cardoso, governor of the Central Bank of Nigeria, the project, which was approved in 2020, went beyond simply correcting issues and became a “symbol of national renewal.” He stated that the Bankers’ Committee alone contributed an astounding N68 billion to the project, demonstrating the private sector’s commitment to investing in it. It became a symbol of the country’s legacy. In July 2024, President Tinubu renovated the facility to honour Wole Soyinka, who is a recipient of the Nobel Prize. In his speech, he referred to Soyinka as one of the “most talented and creative minds” in the nation and stated that he was an individual who deserved such a national monument. Creating a Creative Goldmine Worth $25 billion, Opening Up The recently rebuilt facility will not only be significantly essential to Nigeria’s culture, but it will also contribute to the country’s economic diversification. According to Mr Cardoso, the country’s creative industries have the potential to become “engines of growth,” generating billions of dollars annually and employing millions of people. The project, according to him, is a vital step towards releasing the enormous potential of Nigeria’s developing creative sector, which encompasses film (Nollywood), fashion, music, and information technology. He noted that the project is a crucial milestone. It is estimated that the sector is worth approximately $25 billion annually. ALSO READ Afrobeats Power Ranking September 2025: Top 10 Artists Leading the Charts Top Nollywood Movies That Made Nigerian Actors Rich & Boosted Their Careers GINGERRR Movie Premiere: Star-Studded Nollywood Event & Red Carpet Highlights In his statement, Governor Sanwo-Olu expressed his agreement with the concept of unity and potential, referring to the complex as the “heartbeat of the nation’s course for development.” His connection to FESTAC ’77 was profound, as evidenced by his statement, “It was here that we showed what was possible when culture led the way and art became the language of unity.” The facility, which has undergone a complete renovation, is more than just a theatre; it demonstrates Nigeria’s commitment to its youth and to telling its tale on the international stage. As a result of the president’s call for an endowment funding program to ensure the complex’s long-term maintenance, it became abundantly clear that this was a national treasure that every individual was obligated to own and safeguard. Be a part of Nigeria’s Cultural Renaissance! The Wole Soyinka Centre for Culture and the Creative Arts is more than a building; it is our nation’s renewed creative soul. Visit and Engage: Explore the new world-class auditoriums, exhibition halls, and creative hubs. Attend a show, see an exhibition, and support the next generation of Nigerian artists and creators. Support the Future: President Tinubu has called for an Arts Endowment Fund to ensure the centre’s long-term sustainability. Look for official channels to contribute and become a custodian of Nigeria’s most significant cultural landmark. Share the Story: Proudly project a positive image of Nigeria’s transformation. Share this story and encourage your network, at home and abroad, to experience the rebirth of this national icon. FAQs: The Reopening of the National Theatre (Now The Wole Soyinka Centre) Q1: What is the big news about the National Theatre in Lagos? A: Nigeria’s iconic National Theatre in Iganmu, Lagos, has been completely transformed and officially reopened. It is now known as The Wole Soyinka Centre for Culture and the Creative Arts. This marks a major renaissance for the landmark after years of neglect. Q2: Why was it renamed, and who is it named after? A: In July 2024, President Bola Tinubu renamed the facility to honour Professor Wole Soyinka, Nigeria’s Nobel Prize-winning laureate. He is celebrated as one of the nation’s “most talented and creative minds,” making him a fitting namesake for this cultural hub. Q3: Who was responsible for this renovation project? A: The project was a powerful collaboration between: The Federal Government The Lagos State Government The Private Sector, led by the Central Bank of Nigeria (CBN) and the Bankers’ Committee. Q4: How much did the renovation cost, and who funded it? A: The Bankers’ Committee alone contributed a staggering N68 billion to the project. This underscores a strong commitment from the private sector to invest in Nigeria’s national legacy and creative future. Q5: What is the significance of this beyond just fixing a building? A: Leaders at the event framed this as more than a renovation; it’s a “symbol of national renewal.” It represents a commitment to unity, a positive national image, and the potential of the Nigerian creative economy. It also reconnects with the spirit of unity seen during FESTAC ’77, which was held at the original theatre. Q6: How will this new centre benefit Nigeria’s economy? A: The centre is positioned to be a key driver for Nigeria’s creative economy. The sector—including Nollywood, music, fashion, and tech- is estimated to be worth $25 billion annually. The centre will help unlock this potential, creating jobs and diversifying the nation’s economy. Q7: What did President Tinubu and Governor Sanwo-Olu say at the event? A: President Tinubu passionately called for national unity, urging citizens to stop portraying Nigeria negatively and to “boldly and proudly project the nation’s image positively.” Governor Sanwo-Olu described the centre as the “heartbeat of the nation’s course for development” and highlighted its role in using art as a “language of unity”. Q8: What is being done to ensure this centre doesn’t fall into disrepair again? A: President Tinubu has called for the creation of an Arts Endowment Fund. This fund is designed to provide sustainable, long-term financial support for the maintenance and operations of the complex, ensuring it remains a world-class facility for generations. Q9: How can I get involved and support this new centre? A: You can contribute to this cultural renaissance by: Visiting and Engaging: Explore the new auditoriums, exhibition halls, and creative hubs. Attend a show or exhibition to support Nigerian artists. Supporting the Future: Contribute to the Arts Endowment Fund once official channels are announced to help ensure its long-term sustainability. Sharing the Story: Proudly share the positive news about this transformation. Encourage your network in Nigeria and abroad to visit and experience the reborn national icon.