Niger Rakes #16bn from Lagos Property

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Niger Rakes in #16bn from Lagos Property.


Niger State Government has lease it’s property located at plot No. 1230 B, Ahmadu Bello Way, Victoria Island, Lagos to a private investor, Hotel Signature Limited at the cost of about sixteen billion naira.

Speaking shortly after signing the development agreement on behalf of the State Government held at the State Governor’s Lodge, Jose Marti, Crescent, Asokoro, Abuja, the Secretary to the State Government (SSG), Ahmed Ibrahim Matane disclosed that the leasing of the property would run for twenty eight years.

Ahmed Matane further explained that the leasing of the property was made on the Build, Operate and Transfer (BOT) basis.

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The SSG stressed that after a number of years, as agreed in the development agreement the entire investment would be handed over to the State Government.

He expressed optimism that the leasing out of the property to the investors would no doubt make the place beneficial to the public and a viable source of revenue generation for the Government.

Ahmed Matane assured investors that are willing to invest in the State, that Government is ready to provide several incentives as well as conducive environment for genuine investors.

According to the SSG, “it is expected that before the expiration of the tenure of the present administration about sixty percent of the development agreement will be achieved.

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The signing of the development agreement was witnessed by the Attorney General and Commissioner of Justice, Barr. Nasara Dan-Malam, Permanent Secretary, General Services, Musa Rogo Ibrahim, Solicitor General and Permanent Secretary, Ministry of Justice, Barr. Mohammed Panti Adamu while the Managing Director, Hotel Signature Limited, Mr. Adegboyega Oyewole signed on behalf of the company.

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