Buyers of FG properties
count losses
By PETER ANOSIKE
Monday, January 21, 2008
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Market
aerial view
Photo: Sun News Publishing |
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Buyers of Federal Government properties in Lagos have started
counting their losses as they wait for approval from Lagos
State government to commence the renovation of those properties.
The delay, Daily Sun learnt is as a result of some unresolved
issues between the parties concerned.
But the buyers have tales of woe to interests on loans used
in buying the properties have started mounting.
The properties are the Federal Secretariat, Ikoyi bought by
UACN Properties Development Company, Resort International
Limited, Union Home and Dock Management Limited.
According to them, the delay in the renovation of the properties
had made the interest on the loans to increase while the final
owners have not been able to take possession of the apartments.
However, the problem of the buyers might not be over soon
as some eminent Lagosians led by Oba Rilwan Akiolu are insisting
that the Federal Government must reverse the sale of the properties.
They said that since the Federal Government no longer required
the properties which sit on plots got from Lagos State government
for overriding public use, it was only reasonable for the
federal authority to return the properties to the Lagos State
government.
They want the Federal Government to reverse the sale of the
Federal Secretariat in Ikoyi which was sold to Resort International
Limited for N7 billion, the Mulliner Road Towers to Union
Homes for N570 million, the Eric Moore Towers Surulere to
Dock Management Nigeria Limited for N570 million. The Alagbon
Towers Ikoyi to Nigeria Social Insurance Trust Fund for N1.2
billion and others.
The eminent Lagosians also want the Federal Government to
set aside the lease of Tafawa Balewa Square complex, the National
Arts Theatre and the International Trade Fair complex Lagos-Badagry
Expressway.
It would be recalled that the Federal Government under General
Olusegun Obasanjo had sold the properties on the ground that
since the Federal Capital has been relocated to Abuja, it
no longer required the properties.
The occupant of the properties who were mainly federal civil
servants where forcefully evicted and had their belongings
thrown out in a desperate bid by the buyers to take over the
properties.
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