The management of the National Arts Theatre Complex in Iganmu, Lagos, has named two companies, Topwide Apeas/Chris Michael Limited and Calzada Nigeria Limited, as the preferred bidder and reserved bidder in the ongoing process for the concession of the fallow land around the complex.

Noting this at a meeting with journalists on Tuesday, the General Manager of the complex, Mr. Kabir Yusuf, said the two companies were among the three that previously submitted technical and financial bids in line with the concession plan.

Yusuf noted that the companies were selected after their technical and financial bids were opened and evaluated by a special team, comprising representatives of the National Theatre and its transaction advisers under the supervision of the Infrastructure Concession Regulatory Committee, which is the official regulator of the project.

“This result has been certified by the ICRC and the companies have been communicated to accordingly. The next stage of this transaction is negotiation and the preparation of the Final Outline Business Case for the approval of the Federal Executive Council, after which the project will commence,” he said.

In reaction to a fresh rumour alleging plans to convert the main building of the National Theatre Complex into a hotel, the Yusuf added, “It is important to reiterate that the concession arrangement relates to only the fallow land and not the main building nor any of its halls.”

The concession plan is said to be the product of a recommendation by a committee comprising the Federal Ministry of Works, the Federal Ministry of Culture and Tourism, the Lagos State Ministry of Infrastructure and Physical Planning and the National Theatre, which was set up at the behest of former Minister of Tourism, Culture and National Orientation, Chief Edem Duke, to revive the master plan through public-private partnership.

Following the acceptance of the committee’s recommendation and its approval by the Federal Executive Council, the management of the National Theatre had embarked on a search for local and international investors by organising road shows in Lagos, London, Dubai and Johannesburg in 2014.

“The purpose was to make sure government did not have to spend its money. We wanted individuals to do the spending because of competing demands on the purse of the government,” Yusuf told the gathering.

Also, he recalled that after the road show, about 11 consortiums initially expressed interest in the PPP project and submitted their bids upon advertisment. They included CCECC Nigeria Limited, Afrebay USA, Quippo Energy Nigeria Private Limited, Neon Holdings Consortium, Travari Group, Causeway Project Limited, Calzada Limited, RMB Westport and Chrismicheals Limited.

All the companies, he added, only expressed their interest in the fallow land and not the National Theatre