We are creating Nigeria Entertainment City not selling National Theatre -

From left- Managing Director, National Theatre, Lagos, Mallam Kabir Yusuf; the Group Deputy Managing Director of Capital Management at BGL PLC, Mr. Chibundu Edozie and one of BGL’s project directors, Dipo Wintoki.

The General Manager of the National Theatre, Lagos, Mallam Kabir Yusuf, has said that efforts are being made to create Nigeria Entertainment City within the premises of National Theatre, Lagos.

He stated this while reacting to the story that the cultural landmark and the beautiful edifice in Lagos has been sold to United Arab Emirates conglomerate Mulk Holdings.

Speaking at a media briefing in Lagos, Yusuf reiterated that the advert on expression of interest was on the fallow land of the National Theatre and added that it has nothing to do with National Theatre building.

He maintained that the proceeds will go directly to the National theatre, not to the federal government, for the maintenance of the Theatre.

In his words, “This is on the master plan which was designed 40 years ago. A committee comprising the Federal Ministry of Works, Federal Ministry of Culture, Tourism and National Orientation, Surveyor-General of the Federation, Lagos State Infrastructure and Physical Planning and the National Theatre, came up with the recommendation to revive the master plan which was accepted by the Federal Executive Council. The approval by the Federal Executive Council was only the land. We are expecting 60 hectares out of 134 hectares of land within the National Theatre. The facility manager will generate light. After a period of about 30 years, it will be handed back to the federal government.

 “Sequel to our advertisements on local and international media on “Request for Expression of Interest (EOI) for the concession of the fallow land around the National Theatre in line with the Master Plan (Nigeria Entertainment City)” through the Public-Private Partnership (PPP) in accordance with the ICRC Act 2005 and National Policy on Public Private Partnership, the National Theatre, held four (4) Investor Road Shows to shop for reputable local and international investors in four locations in Lagos (Nigeria) on November 6, 2014, London (United Kingdom)on November 13 and 14, 2014, Dubai (United Arab Emirate) on November 16 and 17, 2014 and Johannesburg (South Africa) on December 1 and 2, 2014,” Yusuf explained.

 He revealed that thereafter, 10 consortia namely; Resilient Africa Proprietary Limited, CCECC Nigeria Limited, Afrebay U.S.A, Quippo Energy Nigeria Private Limited, Neon Holdings Consortium, Trevari Group, Causeway Project Limited, Calzada Limited, RMB Westport and Chrismichaels Limited/Topwide Apeas, indicated interest to participate in the PPP Project to provide Five Star Hotel, International Standard Duty-Free Shopping Mall, Multi-level Car Park, Land and Water Recreation Parks, Office Buildings and Facility Management.

He emphasized that, as indicated in the advertisements, the bids were opened on December 22, 2014 in the presence of the companies and the bids were analysed by a team which comprised our transaction Advisers and National theatre.

The analysis, according to him, was observed by the regulator of the PPP Transactions, Infrastructure Concession Regulatory Commission (ICRC).

“From the analysis, seven companies were prequalified. They are: CCECC Nigeria Limited, Calzada Limited, Chrismichaels Limited, Resilient Africa, Quippo Energy Nigeria Private Limited, RMB Westport and Neon Holdings Consortium. In the light of above, the seven companies are the ones to be issued with the Request For Proposal (RFP) in continuation of the process. To ensure that the terms of concession agreements have been accepted and to consolidate the whole process, the winner will emerge in the next few months and there will be a ground-breaking ceremony,” he added.

Commenting on the fate of the News Agency of Nigeria (NAN), National Council for Arts and Culture ((NCAC), Nigerian Institute for Cultural Orientation (NICO), Advertising Practitioners Council of Nigeria (APCON), National Gallery of Arts (NGA) and the National Troupe of Nigeria (NTN), that were given a quit notice, he said they have been properly settled. “The Federal Housing Authority (FHA) has given them alternative accommodations. Some of them will move to Awolowo Road, Ikoyi, Glass House in Tafawa Balewa Square, Lagos, and so on. But the National Troupe will remain here.

Concerning the period of concession, Yusuf said the committee was set up to look at the old Master Plan but hinted that the period was based on negotiation.

The advisers on the concession business, BGL Capital PLC, represented by the Group Deputy Managing Director of Capital Management at BGL PLC, Mr. Chibundu Edozie, one of its project directors, Dipo Wintoki and others were also present at the briefing.

The journey, according to the representatives from BGL PLC, started over a couple of years ago. “We are looking at a major concession arrangement which centres on build, operate and transfer basis.”