National Theatre has not been sold – MD

It said that management was only going through the process of having to hand over part of the property around the main-bowl of the National Theatre that had been lying fallow for over 40 years to groups of concessioners.There were media reports recently that the Federal Government had sold the National Theatre to a Dubai […]

It said that management was only going through the process of having to hand over part of the property around the main-bowl of the National Theatre that had been lying fallow for over 40 years to groups of concessioners.
There were media reports recently that the Federal Government had sold the National Theatre to a Dubai based company for about 40 million US Dollars. It alleged that the new owner intend to convert it into a shopping mall.
Addressing media men in Lagos, to dispel the rumours, the Managing Director, National Theatre, Mr. Kabir Yusuf Stated that two years ago, the  management expressed its desire to concession about 60 hectares of its land through advert placement in several national dailies.
According to him, ten companies namely the China Construction and Engineering Company (CCECC), Nigeria Limited, Calzada Limited, Chrismichael Limited, Resilient Africa, Quippo Energy Nigeria Private Limited, RMB Westport and Neon Holding Consortium expressed interest.
“Sequel to our advertisement on local and international media on ‘Request for Expression of Interest (EOI) for the concession of the fallow land around the a national theatre in line with the master plan (Nigeria Entertainment City) through Public Private Partnership (PPP) in accordance with the Infrastructure Concession Regulation Commission ( ICRC ) Act 2005 and national policy on PPP and the National Theatre, held four investors road shows to shop for reputable international investors in four locations, namely, Lagos (Nigeria), November 6, 2014, London (UK), November 13 and 14 2014, Johannesburg, South Africa, December 1 and 2, 2014 and Dubai, United Arab Emirate, November 16 and 17, 2014.
“Ten consortia indicated interest to participate in the PPP, to provide the following complementary facilities: Five star hotel, international standard shopping mall, Multi-level car park, land and water recreation parks, office building and facility management.
“The consortia that submitted prequalification documents are: Resilient African  Proprietary Limited, CCECC Nigeria Limited, Afrebay USA, Quippo Energy Nigeria Private Limited, Neon Holding Consortium, Trevari Group, Causeway Project Limited, RMB Westport and Chrismichael Limited/Topwide Apeas,” he added.
He stated further that, as indicated in the advertisement, the bids were open on December 22, 2014, in the presence of representatives of the companies and that the bids were Analyzed by a team which comprises the National Theatre Transaction Advisers, and management of the National Theatre.
He explained that the analysis was also witnessed by ICRC, which happens to be the regulator of the PPP transactions.
He noted that after the open analysis, seven companies were announced to have been prequalified.
He named them as, CCECC Nigeria Limited, Calzada Limited, Chrismichael Limited, Resilient Africa, Quippo Energy Nigeria Private Limited, RMB Westport and Neon Holding Consortium.
Yusuf stated that In the light of this, the seven lucky companies are the ones to be issued with the Request For Proposal (RFP) as against the purported report that was circulated by the paper.
The National Theatre MD who also used the opportunity to correct the impression that government agencies presently located within the property have been ejected, stated that alternative properties were given to all affected government agencies.
“They have all inspected properties acquired for them by management. The places acquired only need to be renovated to suit the taste of the present owners,” he added.
The affected agencies are the News Agency of Nigeria, NAN, Hostel for members of the national troupe, and NCNC.