The concession of Tafawa Balewa Square and Lagos International Trade Fair complex will see the Lagos State Government acquiring 24% stake in both assets.
This was made public by Governor Babajide Sanwo-Olu at a virtual Investors’ Forum on Tuesday.
From the plan, Lagos would take 24% of the total investment in exchange for the corresponding amount of shares.
While commenting on the concession, the Director-General, Bureau of Public Enterprises, Alex Okoh, explained that the concession will be for a period of 30 years, as it is renewable by the Federal Government for another 30-year period.
Recall that some weeks ago, the Federal Government had revealed plans to concession the Tafawa Balewa Square, Lagos International Trade Fair Complex, and the Calabar and Kano Special Economic Zones.
According to the Head of Public Communications, BPE, Amina Othman, the bureau would hold an International Investors’ webinar on the four concession opportunities.