Cracks on the wall: Ambode revokes contract Fashola awarded
The Lagos state governor, Mr. Akinwunmi Ambode revoked the contract for the redevelopment of the Falomo Shopping Centre, which was awarded by his predecessor, Mr. Babatunde Fashola.
According to a statement from his Chief Press Secretary Habib Aruna, the governor terminated the contract because it was not in the interest of residents in the state.
He said only N50million was paid by the concessionaire, Afriland Properties, for a 50-year lease of the property belonging to the government. Mr Aruna added that the state governor is 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.