FG Announces Plan To Concession Lagos Int’l Trade Fair Complex, Calabar Special Economic Zone, Others

FG Announces Plan To Concession Lagos Int’l Trade Fair Complex, Calabar Special Economic Zone, Others

The
                                 Nigerian-British
                                 Chamber of Commerce - FG Announces Plan To Concession Lagos Int’l Trade Fair Complex, Calabar Special Economic Zone, Others
Latest News & Updates February 16, 2021

The Federal Government through the Bureau of Public Enterprises (BPE) has announced plans to concession the Tafawa Balewa Trade Fair Complex, Lagos International Trade Fair Complex (LITFC), Calabar Special Economic Zone (SEZ) and Kano Special Economic Zone (SEZ).

According to NAN report, this was disclosed by Amina Othman, the Head of Public Communications at BPE in a statement issued in Abuja on Sunday. She added the BPE has scheduled to disclose more on the concessions at an International Investors’ webinar on Tuesday, February 23, 2021.

“The webinar is in line with the new mandate of BPE as contained in a new Federal Government circular. It gives the bureau the responsibility for the concession of public enterprises and infrastructure already listed in the first and second schedules of the Public Enterprises Act. Acting on behalf of the Federal Government as the counterparty on all infrastructure projects being developed on a Public-Private Partnership (PPP) basis,” she added.

Recently, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, led other members of the Bankers’ Committee to sign a Memorandum of Understanding (MOU) with the Federal Government for the handover of the National Arts Theater, Iganmu, Lagos.

Nairametrics earlier reported that the Federal Government declared that the Special Concession Account (SCA) for Public-Private Partnerships with the CBN has netted the sum of N2,400,689,340 so far.

The Federal Government revealed recently that it is expecting over N1 trillion investments from the private sector for the development and maintenance of the various highways earmarked for concessioning under the Highway Development Management Initiative (HDMI).

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