Fashola has hidden shares in N30 billion Intercontinental Lagos Hotel, Lagos PDP Alleges

Posted by African Examiner Featured, Lagos, Latest Headlines, News Tuesday, October 1st, 2013

Lagos state governor, Babatunde Fashola

The Lagos State Chapter of the Peoples Democratic Party (PDP) has come out very strongly to accuse the Lagos State Governor, Babatunde Fashola of high level of corruption in governance, saying the governor has significant shares in the N30 billion Intercontinental Lagos Hotel unveiled last Sunday.

The party, in a statement signed by its spokesman, Taofik Gani alleged that the governor ploughed the proceeds from governance into personal businesses, one of which is the newly commissioned 23-storey hotel building which has cost N30 billion to complete.

The Party said it strongly believed that Fashola had about 60 percent financial contribution in the completion of the 23-storey N30 billion worth hotel, saying “that in deed accounted for why he personally commissioned the Hotel.”

PDP stated that more than ever, it “is convinced 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 realizes at least N23 billion as Internally Generated Revenue, 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 party said.

The party reiterated its demand that Fashola must make public his asset declaration, saying that it gave the governor 14 days within which to make public his assets or the masses shall be mobilised for a protest to demand same.