Mimiko Lauds Work Rate, As Mall Opens For Business By September

Ondo State Governor, Dr. Olusegun Mimiko, has expressed satisfaction at the progress made so far with the construction of the proposed Akure Shopping Mall.

Governor Mimiko registered his satisfaction after he was conducted round the premises with other members of the state’s executive council by the developer of the project and CEO of Top Services Limited, Tokunbo Omisore, who mentioned that the mall would be ready for business by September 24, 2015.

Mimiko said the shopping mall would raise the commercial and economic activities of the state, adding that the project, which was conceived through Public Private Partnership Programme (PPPP) is one of the measures put in place to improve the lives of the people and to provide direct and indirect employment for about 1,200 people.

The governor, who affirmed that Ondo State Government has 25 per cent equity in the entire project in the first 25 years and 30 per cent for another five years, said the state would take full ownership after 30 years.

He affirmed that the only contribution of the state government to the project is the land and no single kobo was contributed.

Mimiko noted that the remaining 70, 000 square metres of the entire old Owena Motels land is still open for development of infrastructure like Five- Star hotels and others.

“Those who said Owena Motel has been sold don’t know what they are talking about. Incidentally, Ondo State government has 25 per cent equity for the development here and we are not putting one kobo into it. We are using the value of our land as equity. And it is also important to know that the lease of this land is 30 years.