• Contact Us
  • About Us
Sunday, June 1, 2025
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
ADVERTISEMENT
Home Companies and Markets

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

metro by metro
March 19, 2019
in Companies and Markets
0
0
SHARES
0
VIEWS

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

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

Read Also

Shares Dither, US Dollar Climbs On Rosy Economic Data

Shares Dither, Oil Slides As Tariffs Fan Growth Worries

Oil Rebounds As Ukraine Ceasefire Deal Remains Elusive

Mrs Amina Othman, the Head, Public Communications of the BPE, made this known in a statement issued in Abuja on Tuesday.

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 advise 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.

Othman said that members of the public were at the time warned about any misconduct over the property.

“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 Federal Government represented by the BPE is unlawful, illegal, fraudulent and amounts to trespass.

“Any person (s) interfering with the said parcels of land stand to lose their money as the Federal Government 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 re-imburse any monies paid in respect of such transaction,” she said.

The Bureau, however, reiterated its willingness to collaborate with all stakeholders to ensure a smooth and successful completion of the transaction and appealed for cooperation from them.

The BPE was created through the Public Enterprises (Privatisation and Commercialisation) Act 1999, to diversify the economy and strengthen the private sector as Nigeria’s engine of growth and economic driver.

Tags: Bureau of Public Enterprises
Previous Post

Company sues Standard Chartered Bank over alleged excessive charges

Next Post

9th Senate: It will be bad to deny south-easterners Senate President — APC chieftain

Related Posts

Shares Dither, US Dollar Climbs On Rosy Economic Data
Companies and Markets

Shares Dither, US Dollar Climbs On Rosy Economic Data

May 28, 2025
Shares Dither, Oil Slides As Tariffs Fan Growth Worries
Companies and Markets

Shares Dither, Oil Slides As Tariffs Fan Growth Worries

April 30, 2025
Oil Prices Down On Swelling US Crude Stocks, Easing Middle East Tensions
Companies and Markets

Oil Rebounds As Ukraine Ceasefire Deal Remains Elusive

March 14, 2025
Companies and Markets

NGX Group, CSCS, Others Rally Stakeholders On Gender Equality In Nigeria

March 9, 2025
Next Post

9th Senate: It will be bad to deny south-easterners Senate President — APC chieftain

Naira

Anxiety Over Naira As OPEC+ Increases Production Quota By 411,000 Bpd

June 1, 2025
OPEC

OPEC+ Oil Producers Stick To Guns With Another Big Hike For July

June 1, 2025
20 Kano Athletes, Officials Die In Road Accident While Returning From Sports Festival In Ogun

20 Kano Athletes, Officials Die In Road Accident While Returning From Sports Festival In Ogun

May 31, 2025
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Go to mobile version