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FG eyes $750m W Bank loan, mulls telecom tax

Nigerian govt to reintroduce Telecom tax, others to secure $750m loan from World Bank

Peace, at last, for a troubled cultural landmark

Share Issues about the National Theatre’s redevelopment seem to have ended with last week’s agreement between the Federal Government and bankers. AKIN ABODUNRIN examines the issues that have bedevilled a once upon a time national treasure. TWENTY years after the journey to ‘privatise’, ‘concession’ and ‘transform into Entertainment City’ began, the National Theatre’s pesky issue appears to have been resolved. Last Sunday, the Central Bank of Nigeria (CBN)/Bankers’ Committee and the Ministry of Information and Culture signed the Memorandum of Understanding (MoU) for its renovation. The agreement signing happened only some five days after the Federal Executive Council (FEC) approved the MoU between the parties.  The complex’s handover to the CBN/Bankers Committee will see the body renovate it and create the Lagos Creative and Entertainment Centre. It will comprise film, music, IT and fashion hubs on its expansive fallow land.

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