They actually paid N50m for a 50 year lease! choi...the Lagos State Government on Wednesday terminated the concession granted by the Lagos State Development and Property Corporation to Afriland Properties for the redevelopment of the Falomo Shopping Centre, Ikoyi.
A statement by Governor Akinwunmi
Ambode’s Chief Press Secretary, Mr. Habib Aruna, said the governor
approved the termination of the project based on a recent discovery that
the concession was “grossly detrimental to the interests of the people
of the state”.
The statement said, “Only N50m was paid by the concessionaire for a 50-year lease of the property belonging to the government.
“The
government, as custodian of the interests of Lagosians, is committed to
the restructuring of the LSDPC to ensure it begins to provide positive
capital returns to the state for the ultimate benefit of the people.”
The statement added that Ambode recently
relieved the former Managing Director of the LSDPC, Mr. Biodun Oki, of
his appointment and appointed Mr. Jacob Agosu as acting M.D, of the
Corporation to stem the tide of negative capital returns of the
corporation.
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