The Nigerian Ports Authority (NPA) has sanctioned the Lagos Deep Offshore Logistics Base (LADOL) for violating the terms of the land lease at Tarkwa Bay, near Light House Beach in Lagos.
This, it claimed, was part of the efforts to boost accountability and ensure transparency which the fulcrum of President Muhammadu Buhari’s administration, as well as boost the confidence of local and foreign investors in Nigeria’s operating environment.
LADOL, it was learnt, profitted at the expense of the federal government by subleasing 11.2426 hectares of land out of the total 121 hectares leased to it at outrageous amount of money without recourse to NPA.
The firm was alleged to having collected $45 million (N16.2billion) from Samsung Heavy Industries Nigeria Limited (SHIN) for the 11.2426 hectares of land for which it paid only $524,105 (N37.73 million) to NPA.
Documents exclusively obtained by THISDAY revealed that whereas the NPA charged GRML a rent of $104,821.95 per year for five years on 11.2426 hectare for the head lease, GRML charged the sublease (SHI) $9million per year for five years for the same portion of land, collecting a total of $45million.
When contacted, LADOL’s Public Relations Officer, Mr. Kunle Kalejaiye, said he was not authorised to speak on the matter which he said is currently in court.
The documents showed that GRML was on January 1, 2003, initially granted a 21-year lease over 80 hectares of land at Takwa Bay by the NPA. Another lease of an adjoining 34 hectares was subsequently granted, bringing the lease area to 114 hectares. – THISDAY
