Ambode revokes Falomo shopping centre contract awarded by Fashola

Have y'all heard the rumours? Looks like our new governor is not a big fan of the old governor. Some things I hear but let's leave that alone and concentrate on this story. The Lagos state governor today revoked the contract for the redevelopment of the Falomo shopping center which was awarded by 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.