Still, discordant tunes trail National Theatre’s redevelopment efforts

JUST when it seemed that the knotty issue of the redevelopment of the National Theatre, Lagos had been resolved with the intervention of the Central Bank of Nigeria (CBN) and the Bankers’ Committee,  it appears there are still a few loose ends.

There’s still no clarity about its actual status, with somewhat discordant tunes emanating about who should lead its revamp and development of its fallow land.

Recall that the CBN and deposit money banks had on Monday, September 30, disclosed their intentions to transform the Theatre into a creative industry park while renovating the main structure.

CBN Governor, Godwin Emefiele, had disclosed at the Creative Nigeria Summit that the apex bank would transform the Theatre into a world-class hub.

He had revealed that: “Our goal is to support start-ups and existing businesses in the creative industry space, as well as the development of a creative industry park across three major cities in Nigeria.

“With the kind support of the Federal and Lagos State Governments, the National Theatre, Iganmu in Lagos is expected to serve as the initial pilot for the Creative Industries Park.

“We plan to develop a 40- acre Creative Industry Park around the National Theatre, including giving the Theatre itself tremendous facelift; thereby reopening the tourism potential, the National Theatre offered during FESTAC 77.”

Emefilele added that after the successful deployment of the pilot scheme in Lagos, the banks would set up similar parks in Kano, Port Harcourt or Enugu.

Five days after that disclosure, Emefiele and the banks matched their words with action when they inspected the national edifice. Lagos State Governor, Babajide Sanwo-Olu, and his deputy, Dr Obafemi Hamzat, were also on the train.

However, there’s another issue that the CBN and Bankers Committee appear not to be aware of and which can rubbish their best intentions. Previous administrations, specifically the Yar’Adua and Jonathan governments, had concession processes for the national edifice, with preferred bidders emerging.

Jadeas Trust Consortium, headed by Mrs Yetunde Aina, a daughter of the late renowned historian, Emeritus Professor J.F. Ade-Ajayi emerged reserve bidders at the public opening of the transaction bids in 2007. But following the failure of the preferred bidder to conclude the transaction, Jadeas Trust automatically qualified as the bid winner.

However, the succeeding Jonathan administration abandoned that concession exercise as it held another one with the involvement of the Infrastructure Concession Regulatory Commission (ICRC) among others. The then management of the National Theatre under Kabiru Yusuf held roadshows outside the country to attract investors.

At the end of that exercise concluded shortly before the advent of the Muhammadu Buhari administration, Topwide Apeas won the bid.

The two winners from the previous concession exercises initially had their differences but later reconciled. They have since been working together to upgrade the Theatre and develop ancillary infrastructure contained in its masterplan.

Baffling observers now is if the CBN and Bankers’ Committee knew about this existing concession agreement between the Federal government and the two consortiums before announcing their decisions.  Jadeas Trust and Topwide Apeas are said to have signed an agreement with the ICRC, BPE and other relevant government ministries and agencies except for the National Theatre Board.  The Theatre’s Board was reportedly not constituted when the deal was signed.

The consortiums now perceive the CBN and Bankers’ Committee as interlopers, citing the uncanny similarity between its plans for a creative hub and the body’s Creative Industry Parks.

Besides, sympathisers of the concessionaires are describing the CBN and Bankers’ Committee decision as a breach of process. They note that the concession of the edifice is almost concluded between them, ICRC and BPE.

The CBN and Bankers’ Committee so-called lack of experience, competence and expertise have also cited as reasons they shouldn’t be involved in the Theatre’s development.

What worried stakeholders want now is for authorities concerned to clarify the situation and let the long-delayed redevelopment of the iconic edifice commence. It has suffered enough.