Anthony Areh
Mr Alex Okoh, the Director-General, Bureau of Public Enterprises (BPE), says Nigeria is confident in the private sector’s ability to regenerate some of its national assets.
He said this on Tuesday in Abuja during an investors’ forum webinar on the Tafawa Balewa Square (TBS) and Lagos International Trade Fair Complex (LITFC) proposed concession.
Okoh said that the Federal Government’s showcasing of the two assets was a testament to its confidence in the private sector’s ability to make them not just viable but to again stand as monuments and national pride.
“The expectation of the Federal Government in undertaking the concession of LIFTC is that it should be able to catalyse business in the West African sub-region.
“This is through strategic trade exhibitions that project the vast potentials of the industrial axis of Lagos and Ogun States.
“It is also government’s expectation that the TBS must move beyond disjointed clusters of business premises to a world-class integrated events and business facility comparable to its counterparts globally.”
The director-general, however, said that the challenges which militated against the performance and expectations of the previous concession transactions had been addressed.
He added that the commitment of all stakeholders, including that of the Lagos State Government to the success of the transactions were comforting.
Mr Jide Sanwo-Olu, the Governor of Lagos State also assured there would be concessionaires of the state government’s total support.
He said that he was very pleased with the prospects of the assets being concessioned and was expectant of a successful outcome.
Otunba Niyi Adebayo, the Minister of Industry, Trade and Investment said that it was a national priority to expand local production and significantly improve aftercare services for strategic investors.
He added that the Federal Government and his ministry were keen on promoting private sector participation in the operation, management and maintenance of national assets in order to fully unlock their full potential.
“We are dedicated to developing government enterprises and review them as a critical avenue towards achieving our industrialisation objectives as specified in the Nigerian Industrial Revolution Plan (NIRP).
“We expect such initiative to contribute significantly in terms of employment opportunities, foreign direct investment, manufacturing and export.”
Adebayo also said that the Federal Government had clarified the roles of the BPE and the Infrastructure Concession Regulatory Commission (ICRC) in administering Public Private Partnership (PPP) activities.
The clarification, he said, would clear any ambiguity to stakeholders and intending investors and foster the improvement of PPP programmes in the country.
Mrs Zainab Ahmed, the Minister of Finance, Budget and National Planning, said the Federal Government was enthusiastic about addressing infrastructure deficits.
Represented by Mr Aliyu Ahmed, the Permanent Secretary, she said the administration had promoted economic diversification and supported private sector investments to stimulate efficient economic growth and development for job creation.
The TBS houses a parade ground, multi-purpose hall, administrative block, club arcade and western and eastern pavilion.
It is premised to be concessioned for an initial 30 years with a renewable 30 year term.
The Federal Government is seeking a concessionaire with strong financial strength, significant experience in real estate and demonstrable capacity to develop it to a world class event and entertainment center.
Meanwhile, the LIFTC is also to be concessioned for an initial 30 years.
