The Lagos State Government has announced the termination of its agreement with Messers Bridgeways Global Projects Limited regarding the highly publicised Kantagua Market project.
This decision comes after the government had planned to relocate the Computer Village in Ikeja to Kantagua.
The timeline for the planned movement was disrupted two years ago due to the termination of the concessionaire. It was reported that the concessionaire failed to adhere to the terms of the contract and continued to unlawfully collect tolls and other fees from the traders in the area.
Originally designed as an IT hub with modern infrastructure, the market fell short of expectations under the management of the concessionaire.
Dr. Olajide Babatunde, the Special Adviser to Governor Sanwo-Olu on E-GIS and Planning Matters, announced over the weekend that the government has taken over the market. The government plans to develop it to international standards, complete with hotels and other necessary infrastructure for an ICT hub.
Dr. Babatunde accused the concessionaire of constructing substandard buildings and charging exorbitant fees, such as N12 million per stall, without government authorization. He assured traders that any illegally collected funds would be refunded, and for those who had already paid, their money would be accounted for
