Written by Sarah NEGEDU

FG to concession Lagos trade fair complex

Bureau of Public Enterprises, BPE, said the Federal Government has no plan for an outright sale of the Lagos International Trade Fair Complex as being speculated in some quarters.

The Bureau in a statement by its Head, Public Communications, Amina Othman, denied the purported sale of the complex.

However, she said the Federal Government was in the process of concessioning the complex and had secured the services of transaction adviser in the person of Messrs Feedback Infrastructure Services.

Othman, in the statement said, “The attention of BPE has been drawn to the alleged closure of the Lagos International Trade Fair Complex by the Traders’ Associations operating in the Complex and the protest by the said association over the purported sale of the complex.

“For the avoidance of doubt, the bureau states that the Federal Government of Nigeria through the BPE does not intend to sell the complex rather the facility would be concessioned through a competitive transaction process.

“It is for this reason that the government has procured the services of Messrs Feedback Infrastructure Services to advice on the way forward for the proposed concession. It is apt to inform the public that the bureau on Friday, March 1, 2019, met with the entire Traders’ Associations to explain the essence of the planned concession.”

Othman added, “The bureau had on August 23, 2017, placed a caveat emptor in some national newspapers in the country wherein it stated that the lease agreement that was hitherto executed by the FGN in favour of Aulic Nigeria Limited had been validly terminated and possession reverted to the FGN with effect from 23rd day of August 2017.

“Members of the public were, therefore, warned that ‘any purported allotment, buying, selling, letting, leasing, charging, and subdivision, construction upon or dealings in connection with the said property and parcels of land in any other manner howsoever without the written permission of the FGN represented by the BPE is unlawful, illegal, fraudulent and amounts to trespass’.

 

Search

Latest posts

PhotoNB: Reduce the lead flow on the cover and accomodate this No plans on fuel subsidy removal - FG

The federal government has stated that there was no plan yet for the removal of fuel subsidy.

The Minister of Finance, Mrs. Zainab Ahmed, sa [...]

14 April 2019

PhotoNB: Reduce the lead flow on the cover and accomodate this No plans on fuel subsidy removal - FG

The federal government has stated that there was no plan yet for the removal of fuel subsidy.

The Minister of Finance, Mrs. Zainab Ahmed, sa [...]

14 April 2019