Lagos State Governor Akinwunmi Ambode has terminated the
concession agreement entered into between Afriland Properties and Lagos
State Development and Property Corporation (LSDPC) that was to see
Afriland redevelop the Falomo Shopping Centre, Ikoyi, into a modern
shopping mall.
Afriland is a property management, investment and development
company, which offers end-to-end services along the real estate value
chain, from management to joint-venture investments with a portfolio
size of about N10 billion.
The concession agreement was signed between LSDPC, Lagos
government-owned organisation, and Afriland Properties plc during the
immediate past administration of Governor Babatunde Fashola.
Ambode in a statement signed by Habib Aruna, his chief press
secretary, explained that the decision to terminate the contract
followed the “discovery that the concession was grossly detrimental to
the interests of the people of the state.”
According to him, only N50 million was paid by the concessionaire,
Afriland Properties, for a 50-year lease of the property belonging to
the government.
He said the state government as custodian of the interests of
Lagosians was committed to the restructuring of the LSDPC to ensure it
began to provide positive capital returns to the state government for
the ultimate benefit of the people.
It would be recalled that Governor Ambode two months ago sacked
Biodun Oki, the former managing director of the LSDPC, and appointment
Jacob Agosu as the new CEO of the corporation in an acting capacity.
No comments:
Post a Comment