Govt to indemnify re-concessioning of Lagos Trade Fair complex
THE Minister of Industry, Trade and In vestment, Dr. Okechukwu Enelamah has said that the Federal Government was ready to provide indemnity to ensure that the re-conces - sioning of the Lagos International T rade Fair Complex (LITFC) is success - ful.
Speaking at the kick-off meeting for advisor y ser- vices for the concession of the LITFC in his office in Abuja recently, the minister said that the concession must be done right as “the Federal Government is prepared to provide indemnity to cover all the legal issues and other encumbrances on the LITFC”.
According to a statement from the Ministry’s Head, Public Communications, Amina Tukur Othman, the Minister commended the leadership direction of the Bureau of Public Enterprises (BPE) led by Mr. Alex A. Okoh on the LITFC reconcessioning, adding that “on behalf of the Federal Government and this ministry, I wish to note that it is important to always do the right thing, as it is being done now on the Lagos International Trade Fair Complex by the professionals at BPE”.
He said: “for the love of country and for professionalism, we support this development.”
It would be recalled that the National Council on Privatisation (NCP) at its meeting on August 22 and 23, 2017, revoked the agreement which the Federal Government through the Bureau of Public Enterprises (BPE) signed with Aulic Nigeria Limited in 2008 for the concessioning of LITFC to Aulic.
Earlier, Director General of the Bureau of Public Enterprises (BPE), Alex A. Okoh had said the Federal Government was eager to promote private sector participation in the operation, management and maintenance of the Trade Fair Complex.
He added that the government was also keen on ensuring that the complex is managed on a commercial basis and fulfils the underlying objectives of hosting annual international trade fairs, expos and exhibitions.
“This facility is a prime trade fair and convention complex with the potential to be one of the very best in Africa. It is located along Lagos-badagry Expressway, a major gateway into Nigeria from the West African coast and has abundant land for further development”, he said.