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Reasons behind the closure of Lagos Trade Fair Complex

Reasons behind the Lagos Trade Fair Complex closure
Reasons behind the Lagos Trade Fair Complex closure

Traders of the popular market in Lagos, which is the Lagos Trade Fair Complex were on Monday morning denied access into the complex and to their shops, by the market Association Union, as they fear of a possible takeover by the Lagos State Government.

According to the report by Vanguard, Lagos Trade Fair complex was shut down by the presidents of the various market groups within the Trade Fair to protest what alleged was a plan move to hijack the complex by a popular politician in Lagos, a move the marketers have continued to resist.

Vanguard also reported that the Lagos Trade Fair complex has been a subject of conflict over planned concession by the Federal Government, as it was concessioned to Aulic Nigeria Limited in 2008. However, the National Council on Privatisation had, in September 2018, approved the revocation of the concession of the trade fair complex. But the trade groups at the complex, under the platform of Forum of International Trade Fair Complex comprising Auto Spare Parts and Machinery Dealers Association, ASPMDA, Association of Progressive Traders of Nigeria, Call Park Ventures Limited, C-Tempo International Limited, Balogun Business Association/International Centre for Commerce, Mandillas International Trade Centre/Mandillas United Traders Association of Nigeria, Association of Nigeria Tyre Marketers, Lagos International Trade Fair Plaza Owners Association and Tools and Hardware Dealers Association, launched series of protests to object the move.

The traders’ groups had noted that they were not consulted over the planned relocation of the concession, despite the fact that they hold 75 per cent lease of the complex for 50 years, beginning from 2004 and had been paying their fees yearly as agreed.

The Trade Fair was closed for some hours by the presidents of the various market groups to protest an alleged fresh plan to allegedly take over the complex and have since been opened for business.

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