After a careful review of the case between
In a letter of offer sighted by Vanguard Maritime Report, the value of the lease is put at N219.2 million per annum bringing the total cost of the lease to N1.1 billion for five years.
In the offer letter with reference number QH/
Part of the letter reads: "Following a thorough review of the case, the Authority has arrived at the decision to offer a direct lease of the 11.2426 hectares as a way of resolving the matter in the interest of the parties and the nation at large.
"You shall not sublet, transfer or otherwise part with possession of the facility without prior knowledge and written consent of the authority. The land and developments thereon will revert to the Authority at the end of the lease term without compensation."
The letter which was signed by
Vanguard Maritime Report gathered that Samsung has erected another entry and exit point to its part of the facility thereby cutting off LADOL's facility.
Copyright Vanguard. Distributed by AllAfrica Global Media (allAfrica.com)., source