Social Issues

Has Nigeria’s National Theatre Been Sold?

One of the most controversial pieces of information making the rounds is about the purported sale of the National theatre to a group of Arab investors. The National Theatre is located at Iganmu, Lagos.

Several people are reporting that the Minister for culture and Tourism, Chief Edem Duke was responsible for sealing the deal. It was reportedly sold for the sum of $40 million.

The Punch newspaper cites a report which says; The secret deal which was successfully shielded from the Nigerian media, in spite of a subsisting concessioning arrangement with the Bureau of Public Enterprises, was signed and sealed in December , 2014 between a delegation led by Duke, the General Manager of the National Theatre, Kabiru Yar’Adua, and representatives of Mulk Holding, said to be putting the sum of $40 million (about N7.5 billion) counterpart fund into the project.”

SO far, there’s been no confirmation or denial from the Federal Government.

Leave a Comment