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Tender Details
- Country: Nigeria
- Summary: Re-Concession of Tafawa Balewa Square (TBS)
- NGT Ref No: 47355631
- Deadline: 15 Dec 2020
- Competition: ICB
- Financier: Other Funding Agencies
- Purchaser Ownership: -
- Tender Value: Refer Document
- Notice Type: Tender
- Document Ref. No.:
- Purchaser's Detail :
- Description :
- Expression of Interest are invited for Re-Concession of Tafawa Balewa Square (TBS), Lagos The Federal Government of Nigeria (FGN) through the National Counci on Privatisation (NCP) and its Secretariat, Bureau of Pubic Enterprises (BPE) in conjunction with the Federal Ministry of Industry, Trade & Investment (FMfTI) and Tafawa Balewa Square Management Board (TBSMB) invite interested investors to express interest in the re concession of Tafawa Balewa Squcre Complex (TBS) through a c ompetitive 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 hospitalitycentre for a minimum of thirty (30) years. 2. Overv ie w of Ta f aw a Balewa Sq uare Com plex (TB S) Tafawa Balewa Square Complex, which covers a land ere a of about thirty five (35) acres, is located in the Lagos Mainland at No. 45/57 Massey Bamgboshe Street. Lagos. The facities at the complex include a parade ground, race course, multi-purpose hal. 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 24 th day of July 2002 for a term of 99 years commencing from the 1st day of January 1975. 3. Business Opportunities: Since hosting the Nigerian Independence Day event. Tafawa Balewa Squcre has grown to become one of the premier venues for events in the country. The venue has hosted concerts of various Nigerian musicians and currentty plays host to `‘The Experience" regarded as one of the biggest religious musical event in Africa yearty. 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 wil turn TBS into a world class event centre with faciities Ike a five star hotel, cinema houses, shopping mall, office complex etc as obtained in contemporary sites abroad. With the type of structures and faciities 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-operationwith the Lagos State Government. 4. 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 ope ration/management of a world-class eve nt/s hop ping mal/ 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 ther own resources (their net worth in the audited financials) and access to debt capital through a firm letter of interest from a re putable financial institution. 5. Method of Application: Expression of Interest from potential bidders should provide the following as basisf or selection:
- Documents :
Purchaser : NATIONAL COUNCIL ON PRIVATIZATION
Alex A.Okoh.
Director General,
Bureau of Pubic Enterprises 11. Osun Orescent, Off IB B Way Maitama District. FCT. Nigeria
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