The agreement on Wednesday signposts the beginning of work on the portion of Parcel A and B that is not designated for concession and the standardisation of lease agreements which will ultimately increase the earnings of the LITFC and the Federal Government in particular.
The Director General of the Bureau of Public Enterprises (BPE) Alex A. Okoh noted that the National Council on Privatisation (NCP) in 2007 approved the concession of LITFC to Aulic in line with the Privatisation and Commercialisation Act (1999).
However, the Concession Agreement was terminated by the NCP in 2017 due to the failure of Aulic Nig. Ltd to abide by the concession agreement and BPE was directed to immediately recommence the process of re-concession of the Complex.
He further mentioned that the Management Board of LITFC repossessed the enterprise from Aulic Nigeria Limited and the BPE immediately recommenced the process of re-concession of the LITFC as directed by the NCP on behalf of the FGN with the call for Expression of Interest (EOIs) on Monday, June 20th, 2022.
The DG added that in the process of carrying out the concession plan, it was discovered Portman Freight Services Limited had an existing 20-year lease agreement for Hall 4 with the former concessionaire (Aulic Nig. Ltd) before the termination of Aulic’s Concession by the NCP in August 2017.
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