The Nigerian government has announced that it is set to concession the Tafawa Balewa Square, Lagos International Trade Fair Complex, and the Calabar and Kano Special Economic Zones.
This plan was disclosed by Amina Othman, the Head of Public Communications at the Bureau of Public Enterprises (BPE), who announced that the bureau will hold an International Investors’ webinar on the four concession opportunities.
A concession is a form of Public-Private Partnership (PPP) where a government-owned asset is being operated and maintained by a private investor for a period of time on terms contained in a concession agreement.
The government has announced similar agreements lately, as it seeks ways of resuscitating and generating revenues from several national assets.
On Sunday, the Central Bank of Nigeria signed a memorandum of understanding for the repairs of the National Arts Theater, Lagos.
Babatunde Fashola, the Minister of Works and Housing, Babatunde Fashola, also declared on January 31 that the federal government is to officially start the procurement process for the concession of highways under the Highway Development and Management Initiative (HDMI).
The government has also announced plans to sell some moribund assets to fund the N13.58 trillion 2021 budget.