General Manager/Chief Executive Officer of the National Theatre, Mrs. Tola Akerele, has stressed the need to invest in cultural infrastructure to improve the nation’s economy.
According to her, the reopening of the Wole Soyinka Centre for Culture and the Creative Arts is a foundation for building a globally competitive creative economy that delivers real economic value for creatives and cultural practitioners.
The iconic cultural landmark was officially inaugurated on Wednesday by President Bola Ahmed Tinubu during a ceremony marking Nigeria’s 65th independence anniversary.
The extensive renovation was financed and executed by the Central Bank of Nigeria and the Bankers’ Committee, with strategic oversight from the Federal Ministry of Arts, Culture, Tourism, and Creative Economy.
The centre will be managed by Theatre Partners Limited, a joint venture company formed through a public-private partnership between the Federal Government and the Bankers’ Committee.
Speaking at the event, Mrs. Akerele congratulated President Tinubu, Barrister Hannatu Musawa, Minister of Arts,q Culture, Tourism, and Creative Economy, Mr. Babajide Sanwo-Olu, Governor of Lagos State, the Central Bank of Nigeria, the Bankers’ Committee, and the Board of Theatre Partners Limited on the successful completion and reopening.
She commended Minister Musawa for positioning culture as a driver of economic development and thanked Governor Sanwo-Olu for ensuring Lagos remains the heartbeat of Nigeria’s creative industries.
“President Tinubu’s decision to rename this national monument after Professor Wole Soyinka sends a powerful message about the value we place on our cultural heritage and the people who create it,” Mrs. Akerele said.
The National Theatre CEO expressed appreciation to the CBN, led by Governor Olayemi Cardoso, and the Bankers’ Committee, noting that their investment demonstrates that cultural infrastructure is economic infrastructure.
“The CBN and the Bankers’ Committee have set an important precedent. Their commitment shows that culture is not peripheral to development but central to it.
“When you build capacity in the creative sector, you create jobs, empower young people, and position Nigeria to compete globally,” she said.
Speaking about her vision, Mrs. Akerele described the Centre as a platform for changing the narrative around the performing arts in Nigeria, shifting it from cultural luxury to economic opportunity.
“Our focus must be on capacity building, creating pathways for artists to elevate their crafts, and developing infrastructure that enables Nigerian creativity to compete globally.
“Engaging and empowering young creatives will be a central part of this mission. This facility gives us physical space. Now we must build the systems, partnerships, and programs that turn space into sustainable opportunity,” she added.
Mr. Disun Holloway, Chairman of Theatre Partners Limited, expressed confidence in the growth and impact of the centre.
His words, “on behalf of Theatre Partners Limited, I extend heartfelt gratitude to all who made possible the restoration and reopening of this great theatre.
“I am confident this centre will continue to inspire generations, nurture talent, and remind us that our nation is richest when it draws from the well of its culture.”
The renovated facility features world-class audio-visual technology, enhanced safety systems, and upgraded performance spaces designed to meet international standards.
Initially completed in 1976, the National Theatre gained global prominence when it hosted FESTAC ’77, the Second World Black and African Festival of Arts and Culture.
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