Almost a year after the completion of the National Arts Theatre, the revamped national edifice for culture and creative arts by the Bankers’ Committee, the gates and doors of the facility are yet to be thrown open for use.

On August 29, 2024, the Bankers’ Committee announced the completion of the renovation and upgrading of the monument situated in the Iganmu area of Lagos.

The Bankers’ Committee further revealed, in the same year, that the renovation covered different spaces, including the 4,000-seater main bowl, over 3,000-seater banquet hall, exhibition halls, cinemas, VIP spaces, actors’ changing rooms, industrial kitchen, over 300 new toilet cubicles, clinic, fire station, lobbies within the four entrances and extensive roof repairs.

The renovation of the national landmark commenced in July 2021, following approval by the Federal Government and the subsequent handover of the national edifice to the Bankers’ Committee, and was completed in August 2024.

Prior to the completion in August 2024, the national edifice was renamed Wole Soyinka Centre for Culture and the Creative Arts by President Bola Ahmed Tinubu. The President renamed the facility in a birthday message to the Nobel laureate who turned 90 on July 13, 2024.

In the same vein, on March 6, 2025, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, visited the revamped Wole Soyinka Centre for Culture and the Creative Arts (National Theatre) alongside members of the Bankers’ Committee.

During his visit, Cardoso noted that the revamped theater represents a significant step towards boosting Nigeria’s creative industry and driving economic growth. He also highlighted the potential of the creative sector, estimating it could generate $25 billion, and emphasized the importance of collective ownership and protection of the revitalized landmark monument.

Despite the widespread anticipation and numerous projections regarding the reopening of Nigeria’s iconic monument, the official reopening date remains undetermined.

In a recent finding, sources disclosed that the official reopening of the Wole Soyinka Centre for Culture and the Creative Arts (National Theatre) is pending a formal directive from President Tinubu.

The revamped facilities inside the monument are ready for use – commercial or corporate. As it stands, access to the premises is currently restricted to only maintenance and security personnel, as the monument still awaits formal commissioning.

According to sources, high-level stakeholders, including chairmen of the involved financial institutions, have held a series of strategic meetings in preparation for the relaunch, which currently has no fixed date.

The reopening of the Wole Soyinka Centre for Culture and the Creative Arts (National Theatre) will represent another significant milestone in the nation’s cultural and economic revitalization strategy. The public and stakeholders alike now await the President’s official announcement for commissioning.