Saturday , 16 September 2023

Tinubu Speaks on the Ownership of Oriental Hotels, Civic Center and Others

The Presidential candidate of the All Progressives Congress (APC), Bola Tinubu, has disclosed that most properties linked to him, in Lagos State, like Oriental Hotels, Civic Center, and other properties in Lagos are not his.

Mr. Tinubu, in a documentary on his achievements as Lagos State Governor, said he only provided the environment for investors to invest in the Lekki Corridor.

The former governor said the entire Lekki Corridor was a refuse dump that took months to clear.

Oriental Hotels Speculations about the ownership of the Oriental Hotel located along the popular Ozumba Mbadiwe road have been speculations.

In the aftermath of the Lekki shooting in 2020, the hotel was targeted by hoodlums on the ground that the asset belonged to Mr. Tinubu.

The event prompted the Western Metal Product Company, the owners of the facilities, to issue a statement about ownership of the hotel.

The Executive Director of WEMCO, Taiwo Ali, disclosed that the WEMCO group has 99 percent of the shares of the hotels.

In the course of the 2020 END SARS violence, several media outlets linked to Mr. Tinubu were set ablaze. They are The Nation newspaper, Television Continental and Max Radio.

I don’t own those properties

Speaking in the documentary, Mr. Tinubu, who was governor between 1999 and 2007, said he does not own the Oriental Hotel and other properties linked to him but that his administration invested resources to clear the dumps at the place where the hotel and the civic centre are located.

“I have converted a liability confronting Lagos to an asset of great value. Along Ozumba Mbadiwe, we used to pick dead bodies. People have forgotten truck pushers in those areas. You have the dirties coastline along Ozumba Mbadiwe all through the Lekki corridor.

“I brought private investors, hospitality— they created the boat club, the Civic Center that is of great value to many people today—that was a refuse dump. Nobody would easily remember that Oriental Hotel was a refuse dump— a mile of refuse along that corridor. It took several months of escalating and a great investment for those investors to take the risk. The majority of those assets they claim are mine are not mine.

“I created an economic and recovery path for Lagos. No state can brag of the exponential development that is going on in the Lekki Corridor,” he said.

Mr. Tinubu is facing many questions about his source of wealth and his health ahead of the commencement of the campaign on 28 September in line with the INEC timetable and schedule of activities.

The Video link:

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