The Nation Newspaper

Tag: terminates

  • Lagos terminates N50m shopping complex lease

    Lagos terminates N50m shopping complex lease

    Lagos State Governor Akinwunmi Ambode yesterday terminated the concession granted by the Lagos State Development and Property Corporation (LSDPC) to Afriland Properties for the redevelopment of the Falomo Shopping Centre in Ikoyi.

    The Governor said the decision was carried out based on a recent discovery that the concession was grossly detrimental to the interests of the people.

    According to him, only N50 million was paid by the concessionaire, Afriland Properties, for a 50-year lease of the property belonging to the government.

    He said government as custodian of the interests of Lagosians is committed to the restructuring of the LSDPC to ensure it begins to provide positive capital returns for the ultimate benefit of Lagosians.

    Governor Ambode two months ago, relieved former Managing Director of the LSDPC, Mr Biodun Oki of his appointment, just as he appointed Mr Jacob Agosu in acting capacity.

    The move, he said, was aimed at stemming the tide of negative capital returns of the corporation.

    Afriland Properties Plc is a property management, investment and development company, offering end-to-end services along the real estate value chain, from management to joint-venture investments.

    On its website, it says it has a portfolio size of over N10 billion and one of the largest land banks in Nigeria.

    In April, Afriland Properties announced a profit before tax of N1.74billion for the year ended December 31, 2014.

    The company is run by the Managing Director and Chief Executive Officer Mrs. Uzo Oshogwe, who is said to have joined the company when it was still known as UBA Properties.

    Also on the management team is Mutiu Bakare, who is the Chief Financial Officer.

    The company is chaired by Angela Adebayo, was quoted as saying that the upturn in company’s net earnings “is attributable to improved operational efficiency and focus on value creation.”

  • Adidas terminates NFF contract

    Adidas terminates NFF contract

    One of the world’s biggest sports kit makers, Adidas Group, will end its partnership with the Nigeria Football Federation (NFF) this year, supersport.com can report.

    The contract between Adidas and the NFF runs out this year and the former has stated that it will not renew its relationship with the football federation.

    “I can confirm that Adidas has decided not to renew the contract with the NFF and we wish them all the best for the future,” Public Relations Manager, Adidas SA, Gugu Ntuli, told supersport.com on Friday.

    However, supersport.com can also confirm that a letter dated August 12, 2014 signed by Adidas Vice President, Global Sports Marketing Football, Claus-Peter Mayer and Marketing Manager Federations and Leagues, Kai-Philipp Stief and addressed to the NFF, stated it will not extend the existing contract once it elapses on the last day of December.

    “Adidas has conducted an analysis of its football partnership and related business. Based on this evaluation and in combination with the recent correspondence between the parties we regret to inform you that Adidas has decided not to extend its current partnership with the Nigeria Football Federation as per the end of the agreement (i.e. 31 December 2014),” Adidas informed in its letter.

    Adidas, however assured the NFF of its faithfulness to serve off the terms of existing contract.

    “Adidas will continue to fulfill its obligations under the agreement as previously communicated and respectfully request the Nigeria Football Federation to do the same for the remainder of the contract period (including the obligation to share any third party offer pursuant to Adidas’ right of first refusal),” the sports kit manufacturing organisation stated.

  • Imo terminates N1.3b judicial contract

    Imo State Governor Rochas Okorocha has terminated the N1.3billion contract for the construction of a seven-floor State Judiciary Headquarters awarded to Nutouch Global Ventures Limited, for alleged breach of contractual agreement.

    A statement by the Commissioner for Lands, Survey, Housing and Urban Development, Uche Nwosu, said the contract, which was awarded to the company for N1.32 billion for the total office area of 15,000 square metre calculated at the rate of N88,000 per square metre, was agreed by both parties to be completed within 12 months.

    But the contractor, Osita Okereke, debunked the allegation, insisting that it was the government that reneged on the contractual agreement, especially on the terms of payment.

    He said of the 30 per cent mobilisation agreed with the government, his company received only 15 per cent.

    But the commissioner said an initial N200 million was released to the company to enable it complete the foundation.

    “Subsequently, the contractor, upon his inability to actualise that level of job, requested for additional payment of N24 million with a promise to complete the foundation of the building but again failed to deliver”, he said.

    Nwosu said the contract was terminated “because after collecting N224 million from the government, Okereke abandoned the building without completing the foundation as agreed”.

    He added that an evaluation carried out by his ministry, which supervises the project, has shown that the contractor could not do a job commensurate to the amount so far committed to the project, adding that government is considering taking a legal action against the company.

    But Okereke alleged that his company had an undisclosed agreement with a government official before the contract began.

    “The bone of contention is not the termination of the contract but this will expose the official.

    “I will tell the truth to the Imo people. The truth is I am not afraid of losing the contract but heads will roll.”

  • NDDC terminates Eket-Ibeno road contract

    The Niger Delta Development Commission (NDDC) has terminated the contract for the construction of the Eket-Ibeno road.

    The contract was awarded to Foundation Construction Company (FCC).

    NDDC’s Managing Director Christian Oboh said the commission would partner with the Akwa Ibom State Government on the dualisation of the road.

    Oboh said: “We have done some facelift of the Eket-Ibeno road. All the major potholes have disappeared.

    “As we speak, we have cancelled that contract. We are also in the process of procurement and this time, we are partnering with the Akwa Ibom government so we can key into the uncommon transformation of Governo Godswill Akpabio.

    “We are partnering with them to ensure that the road will look like that the Iwuo-Achang road.

    “Once we agree with the government and the new contractor, the contractor will go to site to get the road properly dualised.

    “What we have done is some remedial work on the road and we appeal to our people to bear with us. It is our hope that we will give them the best.”

    Oboh, however, assured indigenes that before the end of August, another contractor would be mobilised to site.

    His words: “Before the end ofAugust, we would have moved the project to a place where even when we are not in the office, the contractor will just do his work.”

  • Delta terminates Stephen Keshi Stadium contract

    Delta terminates Stephen Keshi Stadium contract

    Delta State government has terminated the contract for the multi-million Naira Stephen Keshi (Formerly called Asaba Township) Stadium.

    The state governor, Dr. Emmanuel Uduaghan, who announced this at the Asaba Manna Prayer and Anointing Service, said he has directed that the contract be re-awarded and completed within six months.

    Dr. Uduaghan explained that the contract was terminated to ensure the speedy completion of the stadium which has been re-named Stephen Keshi Stadium and avoid the project becoming a White Elephant one.

    The governor promised to complete all on-going projects and gave assurances that there would be no abandoned project in the state before he handed over in 2015.

    His words: “l have told God that l am not going to leave any abandoned project in this state. We have been having challenges with the contractors in charge of this stadium. It was about becoming an abandoned project but this will not happen because it will be completed soon.”

    He therefore invited the Founder of Our Daily Manna Devotional who officiated at the Asaba Manna Prayer and Anointing Service, Dr. Chris Kwakpovwe to pray against the spiritual inhibition stalling the progress of the project.

    Dr. Uduaghan regretted that a lot of people were hingeing the slow progress of work at the stadium on what they called the ‘cemetery issue’ attached to the location of the project and therefore enjoined the man of God to invoke the spirit of God on the stadium site to neutralise any negative spiritual inhibition.

    The governor enjoined Deltans that instead of criticising his inadequacies they should pray to God to give him strength to enable him move the state to a higher pedestal.

    He said that there was no one in the world who was perfect even as he said it was impossible to please everybody. He added that pleasing the world was a thing no one had achieved.

    He said: “ It is impossible to please everybody. I am not perfect, l have my weaknesses and inadequacies. So, instead of criticising me, pray to God to give me the capacity to do what is proper and good for the generality of Deltans so that we can move our state forward.”

    Uduaghan commended Deltans for their support especially the man of God, Dr. Kwakpovwe who he described as his spiritual father for their contributions towards the economic, spiritual and socio- political development of the state.

    Founder of the Daily Manna Devotional, Kwakpovwe commended governor Uduaghan for the economic transformation of the state especially the construction of the airport, roads and other infra-structure.

    He also commended the state governor for making it possible for the religious programme to be held in Asaba and prayed for God to protect all Deltans.

    With sand in his hand from the Stephen Keshi Stadium, Kwakpovwe prayed against any negative force stalling the completion of the stadium.

    His words: ”I bind and completely destroy every negative force holding back the progress of the Stephen Keshi Stadium. I bind all arrows pointing to destroy this good project and all negative tendencies will return to senders a thousand times.”

    A highlight of the occasion was when he called out the governor and his family for prayers especially for the 25th Anniversary of the marriage of the governor and his wife.