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21 Years After, Buyers of Underpriced Public Properties to Pay Real Value

The Federal Executive Council has asked buyers of two underpriced public properties in Lagos to pay the differentials of the real values of the properties as of 2001. 

Minister of Works and Housing Babatunde Fashola announced this to State House Correspondents after the weekly Federal Executive Council meeting.

He explained that the properties, a four-bedroom bungalow on Adeniyi Jones Lagos, and another five-bedroom duplex on Amadasun Street in GRA, Ikoyi, Lagos, which sold for N2 million and N5 million respectively were seized by the NDLEA in the course of narcotic prosecution.  

The Works Minister added that the government now wants the buyers to pay the sum of N18 million for the bungalow and N21 million for the five-bedroom duplex being the cost at which they were valued in 2001.  

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