Lagos Trade Fair Complex to be concessioned, not sold – BPE

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The Bureau of Public Enterprises (BPE) says the Federal Government of Nigeria does not intend to sell the Lagos International Trade Fair Complex (LITFC).

The Head, Public Communications of the BPE, Mrs Amina Othman, made this known in a statement issued in Abuja, the nation’s capital.

The BPE said that the Federal Government would rather concession the complex through a competitive transaction process.

Othman said that the organisation’s attention had been drawn to the alleged closure of the complex by the Traders’ Associations operating in it and the protest by the said association over the purported sale of the complex.

“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 March 1, met with the entire Traders’ Associations to explain the essence of the planned concession,’’ she said.

Othman said that the bureau had on August 23, 2017, placed a Caveat Emptor in some national newspapers in the country over the complex.

The Bureau noted that the lease agreement that was executed by the Federal Government in favour of Aulic Nigeria Ltd. had been validly terminated and possession reverted to the Federal Government with effect from the said date.

Peace PIAK