Fashola Unveils N30 Billion Tallest Hotel In W/Africa

Channels Television  
Updated September 30, 2013

Governor Babatunde Fashola of Lagos State, yesterday, unveiled the tallest hotel in West Africa, the Intercontinental Lagos built at a cost of N30 billion.

The hotel located at Kofo Abayomi Street, Victoria Island, Lagos, is a 23-storey building with 358 rooms, 37 suites and a presidential suite.

The Intercontinental Lagos, a subsidiary of the Intercontinental Hotel Group (IHG) is owned by the Milan Group.

Fashola said the new hotel showed that the economy of the country was witnessing growth daily but without corresponding employment.

Fashola said “The new sector is the tourism sector. This is the only virgin sector in the country, and it will help address the challenges of unemployment in the country.”

The governor said the new hotel had helped to create new 650 direct jobs in the state.

He noted that with the construction of more hotels and hospitality outfits, more direct jobs would be created as well as numerous indirect jobs.

Chairman, Milan Group, Ramesh Valechha said the hotel will change the landscape of Lagos and boost the hospitality industry in the state.

He noted that the Memorandum of Understanding (MoU) for the project was signed on March 31, 2004 while it took two years to complete the design work before the conceptualisation of the project began.

He stated that the Lagos State Government, Skye Bank and Wema Bank were in support of the project.

Valechha disclosed that the building of the hotel cost over N30 billion while 650 jobs were created for Nigerians.

The ceremony was attended by the Governor of Central Bank of Nigeria (CBN) Mallam Sanusi Lamido Sanusi; Oba of Lagos, Oba Riliwan Akiolu 1; ex-governor of CBN, Joseph Sanusi, and other dignitaries.

PDP Issues 14 Day Ultimatum To Fashola To Declare Assets

The Lagos State Chapter of the PDP has come out to accuse the Lagos Governor, Fashola, of high level corruption in governance, stating that the governor ploughs the state’s proceeds into personal businesses, one of which is the newly commissioned 23 Storey Hotel building which has cost 30billion Naira to complete.

The Party averred that it strongly believes that Governor Fashola has about 60 percent financial contribution in the completion of the 23 Storey, N30 Billion worth hotel. “That indeed accounted for why he personally commissioned the Hotel”.

The Party states that it is convinced now, more than ever before, that the governor and his predecessor have indeed plunged the State into unnecessary high debt for their own selfish interests only.

“Every day we hear Lagos State Government collects huge loans. Presently the State is indebted to the tune of over a trillion Naira in local and foreign debts. This is in spite that the State now realises at least N23 billion as IGR every month, yet Lagos residents are not enjoying improved cheap social-welfare services. What we see instead, are: new hotels, shopping malls, airlines, banks, private housing estates, construction companies; that are linked to the Governor or his predecessor”

The Lagos State PDP “consequently reiterates her demand that Governor Fashola must make publicly declare his assets”.

The party further noted that it has “given the Governor 14 days within which to make public his assets or the masses shall be mobilised for a protest to demand same”.