Background Image

NATIONAL COUNCIL ON PRIVATIZATION-

INVITATION FOR EXPRESSIONS OF INTEREST FOR THE RE-CONCESSION OF TAFAWA BALEWA SQUARE (TBS), LAGOS

FEDERAL GOVERNMENT OF NIGERIA
NATIONAL COUNCIL ON PRIVATIZATION
SECRETARIAT: BUREAU OF PUBLIC ENTERPRISES
INVITATION FOR EXPRESSIONS OF INTEREST FOR THE RE-CONCESSION OF TAFAWA BALEWA SQUARE (TBS), LAGOS

1.0  BACKGROUND
The Federal Government of Nigeria (FGN) through the National Council on Privatisation (NCP) and its Secretariat, Bureau of Public Enterprises (BPE) in conjunction with the Federal Ministry of Industry, Trade & Investment (FMITI) and Tafawa Balewa Square Management Board (TBSMB) invite interested investors to express interest in the re-concession of Tafawa Balewa Square Complex (TBS) through a competitive bidding process.

The objectives of the concession are to substantially redesign and redevelop the Complex, to profitably operate and manage it through professional and efficient management practices as a world-class events and hospitality centre for a minimum of thirty (30) years.

2.0  OVERVIEW OF TAFAWA BALEWA SQUARE COMPLEX (TBS)
Tafawa Balewa Square Complex, which covers a land area of about thirty five (35) acres, is located in the Lagos Mainland at No. 45/57 Massey Bamgboshe Street, Lagos. The facilities at the complex include a parade ground, race course, multi-purpose hall, administrative blocks, shopping centre, shops, kiosks, offices, restaurants, a car park, auditorium and a bus terminal. The entire land is covered by a Certificate of Occupancy dated the 24th day of July 2002 for a term of 99 years commencing from the 1st day of January 1975.

3.0  BUSINESS OPPORTUNITIES:
Since hosting the Nigerian Independence Day event, Tafawa Balewa Square has grown to become one of the premier venues for events in the country. The venue has hosted concerts of various Nigerian musicians and currently plays host to “The Experience” regarded as one of the biggest religious musical event in Africa yearly. The Complex derives its strength from its strategic location and enjoys patronage from a large number of customers. It is also easily accessible by the users and shop owners.
The commercial opportunities are vast. It is expected that the concessionaire will turn TBS into a world class event centre with facilities like a five star hotel, cinema houses, shopping mall, office complex etc as obtained in contemporary sites abroad. With the type of structures and facilities that are available at the Complex, it is possible to hit breakeven point within the shortest possible time given the strategic location, existing enabling environment and positive co-operation with the Lagos State Government.

4.0  CALIBRE OF INVESTORS REQUIRED
Prospective concessionaires can be local or international investors or a consortium of investors and must have a track record of successful operation/management of a world-class event/shopping mall/ hospitality centre. A minimum of five years’ experience in operation/management in relevant area(s) is required. Prospective concessionaires must also demonstrate ample financial resources to finance the required transformation through their own resources (their net worth in the audited financials) and access to debt capital through a firm letter of interest from a reputable financial institution.

You need to login to view the rest of the content. Please . Not a Member? Join Us
admin

admin@publicprocurement.ng

No Comments

Post a Comment

Password reset link will be sent to your email