• Contact Us
  • About Us
Wednesday, January 14, 2026
  • 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: Stakeholders want BPE to respect lease agreement

metro by metro
March 20, 2019
in Companies and Markets
0
0
SHARES
0
VIEWS

Lagos Trade Fair ComplexThe stakeholders of the 13 markets within the Lagos International Trade Fair Complex on Wednesday urged the Bureau of Public Enterprise (BPE) to respect the existing lease agreement on the complex.

The News Agency of Nigeria (NAN) in Lagos reports that the traders on March 18 embarked on a protest to press home their demand for the BPE to comply with the agreement on the concession.

Read Also

Dollar Staggers To Third Straight Weekly Drop As Investors Ponder Fed Outlook  

Nigeria’s Equities Market Rebounds On Back Of Fiscal Policy Assurance

Nigeria Stock Market Crashes N4.6trn As Investors React To Trump’s Threat Amid Capital Gains Tax

The Spokesman for the group and President of Balogun Business Association (BBA), Mr Tony Obi, said that there was an existing lease agreement between the Federal Government and the traders.

Obi told NAN that the traders leased the place from the Federal Government for a period of 50 years and still up to 26 years for it to lapse.

According to him the case has been lodged in court, but the government is yet to respond  filing its position for the proceeding to begin.

He said that the protest on Monday was to raise awareness on the secret plan of BPE to concession the place in disregard to court’s proceeding.

“This whole place was open without facilities; it is the traders that have so far committed about N70 billion to make the place what it is today. So for anybody or agency to come now and displace the traders will be resisted.

“We have 180 thousand persons earning living from these markets and the government is talking of employment creation you can imagine how many that will lose jobs if such concession plan is allowed to work.

“We are not against government concession plan, but they should go and concession those areas in the complex that are yet to be developed,” he said.

Obi said that a protest letter had been presented to the Executive Director of the complex, Mrs Lucy Ajayi, for onward presentation to the Federal Government.

Mr Mela Audu-Nunghe, the Chairman, Lagos Trade Fair Management Board, in an interview with NAN said that the protest letter was yet to get to him.

According to  Audu-Nunghe,  the protest is unnecessary for  because I am aware  the traders have gone to court against the concession process of the complex by the BPE.

“I do not see any basis for the protest having lodged their grievances in the court of law.

“They cannot embark on a political means to obtain a legal redress of their problem.

“Though I commend them for the maturity they conducted the protest as it was peaceful nevertheless the protest was unnecessary,” he said.

He urged the traders to allow the law to take its course on the matter.

Tags: Lagos Trade Fair Complex
Previous Post

Palace, 46 houses destroyed as rainstorm wreaks havoc in Ekiti

Next Post

I have not left PDP — Agbaje

Related Posts

FG considers foreign exchange reforms as dollar shortages bite
Companies and Markets

Dollar Staggers To Third Straight Weekly Drop As Investors Ponder Fed Outlook  

December 12, 2025
Equities Market Upbeat Performance Persists… ASI Gains 0.9% W/W
Companies and Markets

Nigeria’s Equities Market Rebounds On Back Of Fiscal Policy Assurance

November 12, 2025
Companies and Markets

Nigeria Stock Market Crashes N4.6trn As Investors React To Trump’s Threat Amid Capital Gains Tax

November 12, 2025
Global M&A Activity Up 10% In First Nine Months Of 2025, Study Shows 
Companies and Markets

Global M&A Activity Up 10% In First Nine Months Of 2025, Study Shows 

October 28, 2025
Next Post

I have not left PDP — Agbaje

NRS Engages KPMG As Concernrs Over Nigeria’s New Tax Laws Ease

NRS Engages KPMG As Concernrs Over Nigeria’s New Tax Laws Ease

January 13, 2026
Uninspiring Super Eagles B Crash Out Of CHAN 2024, After 4-0 Defeat To Sudan

Super Eagles Beat Algeria 2-0 To Book AFCON Semi With Morocco

January 10, 2026
ASUU Blasts COPSON Over Comments On Collective Bargaining, Expresses Commitment To Quality Education

Relieve As FG, ASUU Seal Agreement On 40% Salary Increase Next Wednesday

January 10, 2026
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