BREAKING: Lagos govt to take 24 % equity in TBS, Trade Fair Complex

The Lagos State government has offered to take up 24 per cent of the Tafawa Balewa Square and Lagos International Trade Fair Complex.

The Governor of the state, Mr Babajide Sanwo-Olu announced this at the virtual Investors’ Forum this afternoon.

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.

The Director-General of the Bureau of Public Enterprises (BPE) Mr Alex Okoh, disclosed that the concession would be for a period of 30 years, renewable by the Federal Government for another 30 year period.