While making a statement about the resumption of this project in Lagos on Tuesday, Chief Financial Officer (CFO) of Afriland Properties (formerly UBA Properties) added that his company and the Lagos State Government are renegotiating the terms of the concession. This comes after Lagos state Governor, Akinwunmi Ambode cancelled the concession of the Falomo shopping centre in August.

The Lagos state governor cited the terms and conditions of the agreement, stating that they “are grossly detrimental to the interest of the people of the state”. He also added that only N50 million was paid by the concessionaire for a 50-year lease of the property belonging to the state government. However there is also the question of whether this development which ought to have become a state-of-the-art shopping mall along with an office complex and luxury residential apartments is still on the table, and just how long the project will take.

In July 2013, Lagos State Development and Property Corporation (LSDPC), entered into an agreement with Afriland Properties Plc, a member of Heirs Holdings Group,founded by Mr. Tony Elumelu to redevelop the shopping centre, but no completion date was given for the project.

The following year, the consumer market craze in Africa caught up with the Lagos State Government as Governor Babatunde Fashola joined the likes of Shoprite to plan the development of more shopping malls and complexes in the state. He hinted this at a meeting with Global CEO of Unilever, Paul Polman while also expressing his optimism that more shopping centres would spike demand for goods by manufacturing companies, eventually leading to job creation.

“We are supporting the development of more malls and shopping complexes. Apapa has just opened and in about 10 years we have had Ikeja, Lekki, and Adeniran Ogunsanya. We hope that it will represent a major demand pool that will stimulate you to give more supply and in that way employ more people,” he said. But amidst these plans there were also concerns that LSDPC and Afriland Properties were going back on their agreement to redevelop Falomo Shopping Mall.

The old Falomo shopping centre lost most of its tenants due to poor facility management, leaving only Quintessence-an art shop, and the Glendora bookshop. Both shops eventually moved out upon the signing of the concession agreement in 2013.

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The association said the commencement of business at the complex followed the official opening of the second phase of the international shopping arcade, which gulped N2.9bn.

The President of the association, Mr. Issa Akanbi, said 1,000 lock-up shops had been allocated to deserving members of the body and other stakeholders for business.

Akanbi said the modalities for shop allocation were based on the need for the traders to remain resolute and consistent in their quest for freedom.

He said, “The sharing formula was based on loyalty as the shops were oversubscribed. While at Enu-Owa Street, Idumota, about 19 months ago, we were merely slaves to our landlords. Our decision to move the market out of Lagos Island naturally attracted enormous challenges both to us as a union, as well as to our individual members.

“But this is nothing compared to the benefits of this place; because here, we are genuine, legitimate and happy; and more essentially, we have our freedom.”

The Vice-President, ANTM, Mr. Okey Ezeifeoma, said the development of the Africa Tyre Village was split into two phases due to the inability of the members and investors to meet the basic financial requirements for the entire project at the early stages of work.

He added that the financial setback resulted in the association forfeiting about 50 per cent of the portion of land allocated to it by the Trade Fair Complex Management.

Ezeifeoma said, “It took the wisdom of this administration to concentrate on finishing and moving into the phase one of the project, which we achieved in January 2014. But despite all this landmark success and breakthroughs, some disgruntled members still locked their shops and went back to Enu-Owa Street, Idumota under the excuses of low sales and far distance from the main city.

“This delayed the final completion and sharing of this second phase, which was almost ready as of August last year, as we made all necessary efforts to woo those runaway members back to the fold. Today’s event marks the peaceful conclusion of this long journey, which started about six years ago.”

PUNCH.

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The state government, through a statement signed by the Press Officer, Ministry of Works and Infrastructure, Mr. Ayokunle Ewuoso, said the projects would boost commerce and encourage self-employment in the state, adding that it had also successfully graded and compacted with culverts 1,235.20 kilometres of rural roads across the 20 Local Government Areas of the state.

“Government has already completed the construction of the shopping mall located in Sapon Market, Abeokuta South Local Government Area, while those in Isale Igbehin, Itoku and Omida markets, all located within Ogun Central Senatorial District, have reached advanced stages,” the statement read in part.

The Permanent Secretary, Ministry of Works and Infrastructure, Mr. Kayode Ademolake, was quoted as saying that the government’s decision to start the construction of shopping malls in Abeokuta was borne out of the fact that some markets were demolished to give right of way for the expansion of roads, but that none was demolished in the Ogun East and West senatorial districts.

He said “These big shopping malls that we have in Abeokuta will be replicated in the two remaining senatorial districts. Our governor is a man that believes in equality and fairness. Government decided to have these pioneer shopping malls in the state capital because many markets were demolished to give the right of way for the construction of the roads, while no markets was demolish in the other two senatorial districts.

“That notwithstanding, the government will replicate the shopping malls in the remaining districts.

“The Sapon shopping mall has been completed; Omida is also so gigantic. The expenditure there is so high and I hope it will be completed very soon since the governor has been re-elected. I’m sure these will be his priorities. Itoku too is under construction; the work there has gone a long way, it is already on the third floor; very soon, the malls will all be completed.”

Ademolake said that the allocation of shops in the already completed shopping mall located in Sapon Market was being delayed because the government wanted to ensure that there was fairness in the process.

On rural roads, Ademolake was quoted to have said that in spite of the feat recorded by government regarding infrastructural development during Governor Ibikunle Amosun’s first term in office, the government was poised to continue so as to make life better for the people.

PUNCH.

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