The Lagos State government has offered to take up 24 per cent of the Tafawa Balewa Square (TBS) and Lagos International Trade Fair Complex.
Governor Babajide Sanwo-Olu disclosed this at the virtual Investors’ Forum on Tuesday.
Under the arrangement, the Lagos State government would contribute 24 per cent of the required investment in exchange for the same amount of shares in concession Special Purpose Vehicle (SPV) in partnership with the concessionaire.
According to the Director-General of the Bureau of Public Enterprises (BPE) Alex Okoh, the concession would be for a period of 30 years, renewable by the federal government for another 30year period.
The Lagos International Trade Fair Complex which is located beside FESTAC Town, along Lagos-Badagry expressway, has a total area of 300 hectares but only 117 of it will be the concession area.