THE PRESIDENCY
BUREAU OF PUBLIC ENTERPRISES (BPE)
FEDERAL GOVERNMENT OF NIGERIA
NATIONAL COUNCIL FOR PRIVATISATION
SECRETARIAT: BUREAU OF PUBLIC ENTERPRISES
INVITATION FOR EXPRESSIONS OF INTERESTS FOR THE CONCESSION OF TAFAWA BALEWA SQUARE (TBS), LAGOS
1. 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 Federal Ministry of Industry, Trade & Investment (FMITI) and Tafawa Balewa Square Management Board (TBSMB) invite interested investors to express interest in the concession of Tafawa Balewa Square Complex (TBS) through a competitive bidding process.
The objectives of the concession are to substantially repurpose and redevelop the Complex to profitably operate and manage it through professional and efficient management practices as a world-class event and hospitality center for a minimum of thirty (30) years.
2. 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, multi-purpose hall, administrative blocks, shopping centre, shops, kiosks, offices, restaurants, a car park and auditorium etc. 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. Prospective investors should note that the National Council on Privatization (NCP) has reserved 24% equity interest in any winning bid for the Lagos State Government.
3. 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 in the heart of business environment with government proximity to highbrow centres in Lagos, Victoria Island and within few kilometers away from the hub of Nigeria’s Apapa Ports, Africa’s gateway to the world.
The commercial opportunities are vast. It is possible to hit breakeven point within the shortest possible time given the strategic location, existing enabling environment and positive co-operation from Lagos State Government.
Check BPE Website (www.bpe.gov,ng) for 3D Conceptual Design of TBS for an illustration on the expected standard and development potential of the TBS.
4. METHOD OF APPLICATION:
Interested investors should indicate their interest by providing the following documentation and information:
Firm Information:
(a) Full name of company and contact person, postal address, telephone/fax numbers and e-mail addresses;
Nigerian Firms:
Compliance
(b) Evidence of registration with the Corporate Affairs Commission (CAC) by submission of Certificate of Incorporation including forms CAC2 and CAC7 or CAC form 1.1;
(c) Evidence of 2020 Pension Compliance Certificate:
(d) Evidence of 2020 Industrial Training Fund (ITF) Compliance Certificate; and
( e) Evidence of 2020 Nigeria Social Insurance Trust Fund (NSITF) Compliance Certificate;
(f) Evidence of tax payment in Nigeria (2018, 2019 and 2020).
Foreign Firms:
(a) Full name of company and contact person, postal address, telephone/GSM numbers and e-mail addresses;
(b) Evidence of company registration in home country; and
( c) Evidence of tax payment in home country (2018, 2019 and 2020).
5. TECHNICAL & OPERATIONAL CAPACITIES:
(a) Ownership structure of company: name(s) of major shareholders with 5% or more stake;
(b) Details of experience in development, operation and management in the hospitality sector 5-star hotel, shopping mall, multipurpose event/leisure centre/parks etc.
6. FINANCIAL INFORMATION:
(a) Audited financial statements of members of the consortium for the past three (3) years – (2018, 2019 and 2020) and most recent management account;
(b) Summary table for each of above years listing the following for each consortium member and total for the consortium:
• Annual turnover
• Total Assets
• Shareholding Equity
• Networth
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