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

By Ihesiulo Grace

23 February 2021

Business

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

This was announced by the Governor of the State, Mr Babajide Sanwo-Olu, at this afternoon’s virtual Investors Conference.

Under the agreement, the government of the state of Lagos will contribute 24% of the investment needed in return for the same amount of shares in the Special Purpose Vehicle (SPV) concession in collaboration with the concessionaire.

Mr Alex Okoh, Director-General of the Bureau of Public Enterprises (BPE), announced that the concession will be renewable by the federal government for a further 30-year term for a total of 30 years.