The overall aspiration of the Federal Government on this transaction is to ensure a fully realization of the National Theatre’s master plan as developed over 40 years ago. Following the rigorous activities and milestones carried out by the transaction adviser, National Theatre and the Ministry of Information and Culture, a revised master plan was developed and approved by the Infrastructure Concession and Regulatory Commission (ICRC).
Description of asset
The National Theatre was established as a multipurpose centre for the preservation, presentation and promotion of arts and culture in Nigeria. The Theatre will also act as a catalyst for the development of thetourism and entertainment industry. Over the years, the 134 hectares facility was left significantly under-utilised with only the Theatre Complex, which occupies about 10 hectares of the land, in partial use.
Description of services
The following complementary facilities to be developed:
Five (5) Star Hotel;
International Shopping Mall;
Water Amusement Park;
Multi-level Car Park;
Office Building Development
*A combination of gas-fired and solar powered Independent Power Plant which will ensure a twenty-four (24) hours uninterrupted power supply;
*A world-class water and water treatment infrastructure for the entire tenants within the facility. This will be provided as an expanded infrastructure to the existing two (2) million litres water plant capacity currently serving the Theatre complex
* A robust sewage treatment infrastructure to take care of the enormous traffic and waste management that might potentially be experienced in the city
Rationale for selection of PPP model
Design, Finance, Build, Operate and Transfer Model has been adopted. This will ensure that the National Theatre entertainment city master plan is actualized.
It should also be noted that because of the involvement of an independent regulator, the transaction is well guided, monitored and operated.
Finally, the PPP Model will ensure that the impact of maintaining and sustaining the national cultural heritage and tourism attraction for the nation is realized
A series of public enlightenment and engagement sessions have been held. The key principles identified for an effective change management and stake holder engagement process include:
A clear vision;
A change process which is clearly understood and well communicated;
Open and honest consultation with all stakeholders, including the opportunity for people to voice their fears and anxieties concerning the concession idea;
Clear and frequent communication with key stakeholders and public interest;
A mature trusting relationship which is flexible and responsive to changing circumstances.
We have resolved to deploy a robust benefits assessment and benefits realisation plan throughout the construction phase and operation phase in order to facilitate efficient project evaluation and progress re-assessment
Project Summary document
Information will be published as soon as it is available.