President Bola Tinubu has called on the Governor of the Central Bank of Nigeria, Olayemi Cardoso, and other key stakeholders to establish an endowment fund dedicated to the maintenance and sustainability of the newly inaugurated National Arts Theatre, which has now been rechristened the Wole Soyinka Centre for Culture and Creative Arts.

Tinubu made the appeal on Thursday in Lagos during the official reopening of the historic facility, following extensive renovations. In his remarks, the President urged Nigerians to shun negativity and embrace a spirit of unity and optimism about the country’s future.

“Stop talking ill, negative of Nigeria. We know who we are. This is about believing in a nation of great people, confident and dedicated. Let’s build it together, let’s rechristen it. If you have a bad dream, forget it. This country will succeed. Lift Nigeria, believe in Nigeria, put Nigeria first,” Tinubu declared.

The President commended the organisers of the event and expressed delight at the rebirth of the iconic cultural hub.

He pledged to personally contribute to the proposed endowment fund, stressing that such an initiative would guarantee the theatre’s upkeep, create jobs, and ensure its long-term accessibility.

“It has been a wonderful evening, and I have enjoyed myself. It is now left for Cardoso and others to put together an endowment fund, and I will contribute to it. It’s not a bad thing for us to use this opportunity to create jobs, maintain accessibility, and commitment. This place will not go dry again,” he assured.

On the economy, Tinubu reiterated his confidence that Nigeria’s fortunes were improving under his administration. “Like I said yesterday, Nigeria has survived, the economy has recovered. I am confident, if we manage it properly, prosperity will come,” the President stated.

Speaking at the ceremony, Cardoso disclosed that the Bankers’ Committee had invested about N68bn into the renovation of the theatre, describing the project as a testament to what collective action between the public and private sectors could achieve.

“The Central Bank of Nigeria, the Bankers’ Committee, the Lagos State Government, and the Ministry of Arts and Culture and Creative Economy came together with a shared purpose to deliver this national project, with the Bankers’ Committee alone committing approximately N68bn,” Cardoso explained.

He noted that the initiative went beyond corporate social responsibility, describing it as a deliberate investment in Nigeria’s cultural and creative future. “This project stands as proof that when the public and private sectors unite behind a shared national purpose, there is no limit to what Nigeria can achieve,” the CBN governor added.

Cardoso also paid tribute to the late Herbert Wigwe for his passion and imagination in driving the vision, and expressed appreciation to Lagos State and other ministries for their support.

Nobel laureate Professor Wole Soyinka, in whose honour the centre was renamed, traced the origins of the building, recalling its unusual design and foreign inspiration.

“I remember this building when it was first erected during a military regime. I think we called it the General’s Hat because of the shape of the roof. There was very little of what I call African architectural intelligence in it.

“In fact, it was an uprooted structure copied from Bulgaria, originally not a real theatre but a ballet de sport for parades and athletics. The commissioner then simply asked for it to be made one and a half times bigger, because Nigeria is bigger. That is how this building came to be,” Soyinka recounted.


Expressing gratitude for the honour, Soyinka quipped about the President’s knack for “laying ambush” and acknowledged the efforts of those behind the project. “In all seriousness, I want to thank you for this honour. For all those who will be using this hall, let me remind you that I represent the preoccupation and commitment of others. My hope is that with the recreation of this building, we won’t be going all the way to Abu Dhabi to watch African theatre,” he said.

Minister of Arts, Culture, and Creative Economy, Hannatu Musawa, underscored the strategic role of the creative industry in Nigeria’s economic diversification agenda under President Tinubu’s Renewed Hope Agenda.

“The creative economy is recognised as a vital driver of diversification, of job creation and of national pride. Through new instruments such as the Creative Economy Development Fund and the Creative Tourism Infrastructure Corporation, we are building the enabling framework that will empower every single youth inside and outside Nigeria and attract investment,” Musawa explained.

She further highlighted the Motherland Initiative, which seeks to reconnect the Nigerian diaspora with their cultural heritage while creating platforms for collaboration and investment. “This transformation is a fruit of collaboration. I extend deep appreciation to His Excellency, Mr President, to the Governor of Lagos, the Governor of the Central Bank, the Bankers’ Committee, and all partners who made this possible,” Musawa said.

The reopening of the Wole Soyinka Centre marks a new chapter in Nigeria’s cultural and creative renaissance. Once left in decline, the National Theatre has been revitalised through a combination of public-private partnerships, visionary leadership, and national commitment.

As Nigeria continues to position its creative industry as a driver of economic growth, the theatre is expected to serve not only as a hub for the performing arts but also as a beacon of cultural pride for the nation.

With President Tinubu’s call for an endowment fund and the significant investment already made by the CBN and the Bankers’ Committee, stakeholders believe the iconic facility will no longer “go dry again” but instead flourish as a centre of inspiration, creativity, and opportunity.