Controversial former Lagos State Governor and leader of the Action Congress of Nigeria (ACN), Asiwaju Bola Tinubu has taken over a prime property that was once the headquarters of Ikoyi-Obalande Local Government Development Area and relocated the local government secretariat to Obalende, a district in the commercial city of Lagos.
The huge and strategic parcel of land located at the junction of Alfred Rewane Road (Kingsway Road) and Glover Road in highbrow Ikoyi has been demolished to make way for prime construction believed to be blocks of serviced luxury flats.
The acquisition of the property is coming on the heels of the ACN’s defeat in the local government chairmanship election for Ikoyi-Obalende Local Council Development Area by the Peoples Democratic Party’s (PDP) candidate, Mr. Ibrahim Babatunde Obanikoro.
The politician has also cornered the contract to reconstruct Glover Road using a proxy company P.W. Nigeria Limited.
Though THEWILL has not been able to get details of the transaction, several sources say the politician is recklessly acquiring properties in prime locations across the state with the assistance of current Lagos State Governor, Mr. Babatunde Raji Fashola (SAN).
Tinubu’s acquisitions since he left office cuts across real estate, media and aviation. His company AlphaBeta Consulting collects all Internally Generated Revenue (IGR) for Lagos State and some ACN controlled states. It gets to keep a sizeable chunk for itself. AlphaBeta is believed to rake in as much as N7 billion naira monthly as commission for its work.
The politician is also believed to own FirstNation Airlines, The Nation Newspaper, stakes in Oriental Hotel Victoria Island, Renaissance Hotel Ikeja, Eko Hotel Lagos, and the yet to be completed InterContinental Hotel located along Kofo Abayomi Street, near the popular Mega Plaza in Victoria Island. Tinubu also owns TV Continental (TVC) and Radio Continental.
The former Governor who was engulfed in a University certificate scandal during his tenure as Governor, also owns a huge shopping mall complex in Alausa, Ikeja, popularly called Shoprite by its mainland patrons.
THEWILL gathered that the shopping complex was constructed on a large parcel of land believed to have been hijacked from the Lagos State Government.
In a similar gestapo-style move, the governor also bullied Lagosians and acquired the Lekki-Epe highway, reconstructed and tolled the road under a highly controversial agreement.
ABOVE: BOLA TINUBU'S LATEST ACQUISITION, IKOYI-OBALENDE LOCAL GOVERNMENT SECRETARIAT, IKOYI, LAGOS.
ABOVE: THE NEW INTERCONTINENTAL HOTEL VICTORIA ISLAND LAGOS
Obugi, You really think so?
Let us look at this from an economic view point. Has Tinubu's so called companies improved the welfare of the states and its people. I believe so.
Does Tinubu's action make the state less economically efficient.
It is not Tinubu's fault, Others need to think like him. He is just a bloody capitalist.
In that case, let us continue to contract out the future of the whole Nigeria while we and our children live on crumbs from the masters' table. Thank God that we still get crumbs to eat. Sio!
I guess having scruples not to steal from the commonwealth is a disadvantage.
Ekwensu I prithee, reconcile for me this duality that seems at odds with my current self, I need to find and unleash my inner psychopath...
I promise thee Ekwensu, the blood of a virgin on the next full moon and some chicken tenders
Re: Tinubu Ejects LGA From Headquarters, Takes Over Prime Property
And by throwing little chunks here and there at the politico-beggars in the state he locks his vise grip on poor, innocent residents. Posterity will not forgive Fashola, who is without doubt an accomplice is this obviously obscene rush for wealth and power, for not doing enough in checkmating this reckless, insensitive rogue. He could easily have accomplished what Mimiko did in Ondo if he called Tinubu's bluff.
If you consider too that he (Tinubu) imposed on the people his daughter, son-in-law and wife in this mad ego trip, it becomes nauseatingly disappointing that the collective will of the people is mortgaged, for a few crumbs, to a power hungry thief like Tinubu.
When is fleecing of the people enough? How much money does a man need in a lifetime? Where is Abiola? Abacha will never be seen again... Saraki is dead...Akinloye is gone...
We keep complaining, but we do absolutely nothing about situations. I am just looking at the economic benefits; because there is nothing absolutely anybody can do about it.
Yes, for over 30 years Libyans couldn't do anything to Gaddafi but in the end retribution exacted its price.
The Lord is patient, very patient. Just maybe we may change our ways!
Nigeria is a big haven for those with guts to loot, loot and loot till quench and we call such people capitalists! One day, monkey go go market...
If the properties were legitimately and openly acquired, then I could see your capitalist angle.
But if these allegations are true, then THIS IS IN-YOUR-FACE STEALING. They are using influence to steal tax payers property and setting up private businesses on them.
We are talking about our commonwealth here!