Tafawa Balewa Square (TBS) Not For Sale – BPE

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TBS

The Director General, Bureau of Public Enterprises (BPE) Mr Alex Okoh has refuted the purported Federal  Government’s plan of selling the Tafawa Balewa Square, stating categorically that the TBS is not for sale.

Mr. Okoh made the clarification in Lagos, during a routine assessment visit to the Tafawa Balewa Square complex (TBS).

The Director General and his team were at the TBS to access how government policies have impacted on operations of the Concession and challenges that the complex is facing in order to ensure full execution of the TBS concession for redevelopment of the facility.

While at the TBS, the BPE DG Mr Alex Okoh and his team made their first stop over at the office of the of BHS International Limited, the concessionaires of the TBS, and was received by its its MD/CEO Otunba Olu Adenodi.

The committee probed to know the challenges of the Concession, before being conducted round the facility by the Management Staff of BHS led by Mr N. Njoku.

TBS

After the tour of the Complex a joint session was held between the visiting team and BHS with the TBS Management Board.  The session was primarily to identify the challenges of the Concession and the way forward.

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While Mr Alex Okoh was addressing the media, he pointed out that TBS complex was concessioned in June 2008 and handed over to BHS International to manage the facility, in order to meet the expectation of the Federal Government.

”We have gone round and we have seen what the challenges are, there are some steps that need to been taken by the Federal Government to ensure that we get better results from the Concessionaire.”

“One of the things we have done is to issue an indemnity on behalf of the Federal Government to the Concessionaire BHS International, essentially to protect the Concessionaire against any form of litigation to its lawful control of the facility” Mr Okoh explained.

The DG stated categorically that the assets belongs to the Federal Government of Nigeria and it is the ownership that the government has concessioned to BHS.

“It is not an assets sale, it is just concession of the facility on a development bases”.

The BPE is being sponsored by the Federal Government of Nigeria and is charged with the overall responsibility of Implementing the Nigerian policy on privatization and commercialization of Public enterprises.

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