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L-R: Haresh Aswani, honorary consul general consulate of representative of Singapore, Ladi Balogun, MD/CEO, FCMB and Rama Talwar, chairman, Sabre Capital, at FCMB investors dinner in Lagos. Photo: Emmanuel Anyanwu

Yar’Adua Overturns Obasanjo’s Order
• Stops Hotel Project


A five-star hotel which is planned to take the place of the recently demolished car park at the Murtala Muhammed International Airport, Ikeja, Lagos has suffered a set-back. BusinessWorld Intelligence can reveal that the project which was approved by the former president, Chief Olusegun Obasanjo, may have been suspended by President Umaru Musa Yar’Adua.
Aviation authorities said the presidential order suspending the construction of the hotel came as soon as the car park was fully dismantled and as another car park was hastily built closer to the taxi garage at the airport, a distance of about 500 meters from the demolished one.
The hotel project which was a response to Obasanjo’s order to parastatals to make efforts to generate revenue that they could use to finance their operations, may have hit the rocks because the new administration believes that the approval of the venture was not subjected to due process.
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    COMMENT AND ANALYSIS :::

    The Innovator is Set to Rule the World

    Ray Echebiri

    Indians are known worldwide for their craftiness. Put a little more bluntly, Indians are believed to be world leaders in duplicity. But on the positive side, Indians epitomise creativity and innovation. Little wonder then that even with its huge population, India has continued to make dramatic progress especially on the economic front, moving far ahead of many countries that Mother Nature has blessed with amazing quantum of the proverbial milk and honey.
    At a time when going to the cinema to see movies was the main past time of most upwardly mobile young men and women, and the best treat people in the low and middle bracket would give to themselves, Indians churned out movies that gave Hollywood stars sleepless nights and restless days as they made desperate effort to ensure that Indian movies did not send them out of business.

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    Renovation Contract Scam: Why Etteh Should Go Now (2)

    Alexander Ekemenah

    Should we then regard the Administration’s position on corruption and rule of law as another lip-service and return to the old order of stupefying corruption? The fact is that the Administration’s commitment to the anti-corruption crusade cannot be squared up with the obvious levity with which it has been treating the scandal at the House of Representatives.
    How this Administration handles this matter will be a litmus test case of its seriousness or otherwise about its pronounced anti-corruption crusade. It has become obvious that the way this Administration is responding to the Etteh-gate is perhaps a new dimension to the challenge of eradicating corruption in Nigeria. If Madam Etteh is let off the hook, then we can all sigh and give up the struggle against corrupt practices under this Administration.

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