The Federal Government has no intention to sell the Lagos International Trade Fair Complex, the Bureau of Public Enterprises has said. In a statement signed by BPE Head, Public Communications, Amina Othman, denied the purported sale of the complex. However, the privatisation agency said that 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 said in the statement, “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 advise 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’. It further warned that any person(s) interfering with the said parcels of land ‘stand to lose their money as the FGN through the BPE will neither honour agreements, contracts or arrangements entered into with person(s) purporting to have authority to transact the property and or parcels of land whether in the manner described or in any other manner whatsoever nor will it reimburse any monies paid in respect of such transaction’.” According to Othman, the privatisation agency is willing to collaborate with all stakeholders to ensure a smooth and successful completion of the transaction.
