The federal government has opened bids for the proposed multi-billion naira Lokoja Vehicle Transit Area (park) that is tipped to create over 2,000 jobs and attract huge revenues to the investors and the federal government.
The Lokoja facility to be located on a 40km land size is to be executed under a 30-year concession agreement. The preferred bidder will finance, build, operate, and transfer under the regulation of the Infrastructure Concession Regulatory Commission (ICRC).
Speaking to journalists at the bidders’ conference on Wednesday in Abuja, the Deputy Director, Public Private Partnership (PPP), of the Nigerian Shippers Council, Mustapha Zubairu said the bids which opened on February 6th 2023 will close on the 21st of March 2023, and opened on the 22nd of March, 2023.
He also said similar facilities will be built in Abuja, Enugu, Lagos, Kano and other parts of Nigeria.
Cash scarcity, insecurity may affect elections conduct – Interfaith Forum
4.3 million registered voters to vote in Kaduna – INEC
Zubairu said the facility “Is estimated that the project will generate substantial revenue that will ensure return on investment by the investors.”
He said preferred bidders will be selected based on their track record and compliance with other regulatory requirements as well as their capacity to finance the project.
The project is expected to accommodate 1,200 truck parking lots, 300 cars, 64 businesses, 20 luxury buses, restaurants, accommodation, vehicle maintenance facilities, and other facilities.
The representative of the Infrastructure Concession Regulatory Commission (ICRC), Shola Ogunshola said the agency will ensure that all due processes involved in the public-private partnerships are followed to the letter.