LCCI may emerge as the preferred concessionaire for TBS

Business News

 

By Franklin Alli 

 

There is a strong indication that the Lagos Chamber of Commerce and Industry ( LCCI) may likely emerged as the preferred concessionaire in the ongoing concession exercise of the Tafawa Balewa Square, TBS, one of the iconic trade and entertainment exhibition centers in Nigeria.

Although, the chamber had not officially made its intention public, we foresee it might be one of the investors that would apply and bid for the facility which the federal government has put up for a 30 year concession, renewable for another 30 years. This is alongside its counterpart, Lagos International Trade FaIr Complex, Badagry expressway.

Recall that few months ago, LCCI, said it was on the move to build a world-class international convention center in the State.

The hand-writing on the wall

Though LCCI, has not reveal where the edifice will be sited, perhaps, it might be the TBS, the venue for it’s annually held Lagos International Trade Fair.
It stopped hosting the fair at the LITFC for more than five years ago, blaming the bad road condition, among other issues.

The LCCI President, Mrs. Toki Mabogunje, had during a ceremony to unveil the chamber’ new logo, said:

“We intimated the Governor of the state, Sanwo-Olu, of the Chamber’s intention to develop a world-class international convention center for Lagos.

“The Governor assured the Chamber of his support of the Chamber’s interest in developing the International Convention Center for Lagos,” she said.

Fielding question on if local firms can bid for the concession, during the Investors webinar organised by the Bureau of Public Enterprises, the Transactions Advisor, said : ” From my point of view, I see no difference between local and foreign investors as long as they are able to meet the requirements that we are going to put forward, in terms of the financial strength and  experience we would be seeking in order to qualify the concessionaire. Honestly speaking, we just want the best for this particular iconic asset; we don’t want a mediocre development of this infrastructure asset..”

It was learned that the BPE will soon paste on  its website,  the lists of investors that have expressed interest in the facilities.

Read more : lcci-to-build-a-world-class-intl-convention-center

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