Tarkwa Bay: NPA, LADOL disagrees over land revocation
Tarkwa Bay: NPA, LADOL disagrees over land revocation
Tarkwa Bay: NPA, LADOL disagrees over land revocation
The Nigerian Ports Authority (NPA) has explained that the Lagos Deep Offshore Logistics Base signed an agreement that the revoked land at Tarkwa Bay would not be sublet to another tenant.Recall that last week,the NPA revoked the land lease agreement it had with LADOL for 121 hectares of land near the Light House Beach, Tarkwa Bay, Lagos for allegedly subletting part of the land.

In a letter signed by its General Manager, Land and Asset Administration, Mr Yusuf Ahmed, and addressed to the Managing Director of Messrs Global Resources Management Limited, the parent company of LADOL, the agency had called the attention of  LADOL to “Clause 4.5 (a) of the agreement which prohibits the lessee (LADOL) from subletting any part of the premises without a written approval of the Lessor (NPA).

The clause stipulated that any contravention “shall result in the automatic cancellation of this lease.”

NPA noted that its investigation revealed that LADOL executed a sublease dated September 13, 2013 with Messrs SHI-MCI Fze (representing Samsung Heavy Industries Nigeria) without the required approval or recourse to the Lessor.

“Your actions in that regard led to the current impasse with resultant negative attention within and outside the country.

“Consequently, the authority has reviewed the events and decided to exercise its rights under the lease and hereby revokes it with immediate effect.”

The agency also accused LADOL of paying less money than it collected on rent into the coffers of the Federal Government.

It explained that its intervention was aimed at saving SHIN’s fabrication and integration yard for which it borrowed $270m to build and restore investors’ confidence that had been badly shaken by the attempt to push it out of the facility.

Apart from paying less than the amount it collected from SHIN to the government, GRML was alleged to have also entered into another sublease agreement with an American company called Africoat Nigeria Limited, without any recourse to the NPA.

Meanwhile, LADOL and GRML are reported to have taken the matter to court, seeking court’s order and declaration that the NPA’s revocation of the lease agreement is unconstitutional, illegal, wrongful, null and void.

LADOL listed defendants in the suit to include Samsung Heavy Industries Nigeria, the Nigerian Export Processing Zones Authority, Oil and Gas Export Free Zone Authority and SHI-MCI Free Zone Enterprise.

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