Lagos State Governor, Mr. Akinwunmi Ambode, has approved the termination
of the concession granted by the Lagos State Development and Property
Corporation to Afriland Properties for the redevelopment of the Falomo
Shopping Centre, Ikoyi in Lagos.
In a statement by his Chief
Press Secretary, Mr. Habib Aruna, on Wednesday, the governor said the
decision was informed by the recent discovery that the concession was
grossly detrimental to the interests of the people of the state.
According
to him, only N50m 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 yielded
positive capital returns to the state government for the ultimate
benefit of the people.
Ambode had, two months ago, relieved the
then Managing Director of the LSDPC, Mr. Biodun Oki, of his appointment,
and appointed Mr. Jacob Agosu as Acting Chief executive Officer of the
corporation, in a bid to, according to the statement, stem the tide of
negative capital returns of the corporation.
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