Home Latest News No Intention To Sell LITFC, Says BPE

No Intention To Sell LITFC, Says BPE

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Confirms concession of facility

The Bureau of Public Enterprises (BPE) on Tuesday said that it has no intention to sell the Lagos International Trade Fair Complex (LITFC), rather the Federal Government will concession the facility through a competitive transaction process.

In a statement made available to reporters in Abuja, the BPE’s Head of Public Communication, Amina Tukur Othaman, noted that the Bureau’s attention was drawn to the closure of the complex by the Traders’ Associations operating in the Complex and the protest by the said association over the purported sale of the Complex.

The statement said that “for the avoidance of doubt, the Bureau states that the Federal Government of Nigeria through the Bureau of Public Enterprises (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.

It would be recalled that 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”.

The Bureau reiterates that it is willing to collaborate with all stakeholders to ensure a smooth and successful completion of the transaction; and appealed for cooperation from them.

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