The National Arts Theater is simulataneouly one of the most greatest creative assets in Nigeria and at the same time a source of great embarrassment. After construction was completed in 1976 in preparation for the Festival of Arts and Culture (FESTAC) in 1977, the sprawling complex has housed the collection of National Gallery of Modern Nigerian Art and a host of other national treasures. In 2010, President Olusegun Obasanjo announced plans to privatise the National Arts Theatre. This sparked controversy amongst Nigerian entertainers and playwrights like Wole Soyinka On December 30, 2014, it was reported that the National Arts Theatre has been sold to a Dubai-based conglomerate for the sum of $40million, and that the building will be converted to a duty-free shopping mall.
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