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Nairaland Forum / Nairaland / General / Politics / 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) (10206 Views)
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13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Penguin2: 8:23pm On Jul 26, 2022 |
Supporters of the presidential candidate of APC, Alhaji Bola Ahmed Tinubu, have always attributed everything they think is good about Lagos to him as his achievement and brainchild as though governors before and after him didn’t have a brain and thinking faculties of their own but were there to play the role as written in Tinubu’s scripts. One of those things is the Eko Atlantic City. Now, the Eko Atlantic City was launched in 2009 during the administration of Babatunde Raji Fashola, 2 years after Tinubu left office. The groundbreaking was done by the then Vice President of Nigeria, Dr Goodluck Jonathan. The idea for the city was said to have come from trying to stop erosion from the Atlantic Ocean to Victoria Island area which gave rise to intentional reclaiming of land from the ocean area to build a city that would be modeled in the style of the big cities of Dubai. At completion, the City is projected to be home to about 250,000 people and provide about 400,000 jobs. But 13 years after, why is Eko Atlantic City still empty? I’ll tell you. Because the project is an elitist project; meant for the super rich. With an apartment in the city going for as high as $1.3million per annum, you can imagine how many low income and average Nigerians/Lagosians that can afford it. Similarly, a plot of land in the city is said to sometimes cost as high as $250,000 to acquire. Again, what percentage of Lagosians/Nigerians can afford that? So, you see, the cost of land and apartments in the city is why the city has remained largely empty, 13 years after launch. This goes to put a huge question mark on Tinubu supporters who would usually count the Eko Atlantic City as one of the many legacies of Tinubu in Lagos. First, can the project truly be said to be Tinubu’s project considering it was launched 2 years after he left office? Second, if you answer yes that it’s his project, does it not show Tinubu as someone who would rather prioritize elitist projects over what would be beneficial to the entire Nigerian masses? Or can you point to a similar project that Tinubu midwifed that is for the low income and average income earners? Why is Eko Atlantic City still empty after 13 years? https://www.youtube.com/watch?v=JSIfdFYZQiQ Mynd44 26 Likes 2 Shares |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Realtalk20: 8:25pm On Jul 26, 2022 |
Because it's a pointless project. 43 Likes 3 Shares |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by TarOrfeeek: 8:25pm On Jul 26, 2022 |
That place has taken way much time with so little returns. 21 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by HRHQueenPhil(f): 8:25pm On Jul 26, 2022 |
Building and making it so expensive Wen they tried dat nonsense with tejuosho shopping complex na rat ocupy am till they came to their senses 44 Likes 2 Shares |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by derecho(m): 8:32pm On Jul 26, 2022 |
Embezzlement. 15 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by slimfit1(m): 8:33pm On Jul 26, 2022 |
Fashola and Tinu scam Lagosians just when you think Lagosians are too smart to be scammed. 31 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Ojabifi: 8:34pm On Jul 26, 2022 |
Hnnnnm |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by VeryWickedMan: 8:35pm On Jul 26, 2022 |
Because the originator is a scammer 25 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by lightskinnigga: 8:36pm On Jul 26, 2022 |
So it’s 13 years they’ve been taunting and insulting south easterners over this project and it’s not even complete yet? What a shame 44 Likes 3 Shares |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Nobody: 8:42pm On Jul 26, 2022 |
Eko Atlantic is a private enterprise. The American embassy have a land there, they are going to build the biggest embassy in africa there Real estate is long term and not short term, even a newly built estate takes some years for it to be fully occupied. 34 Likes 7 Shares |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Nigerialabalaba: 8:44pm On Jul 26, 2022 |
Bad belle omo ibo, eko atlantic land wey no even reach ultra HNI people sef. Place wey people don dey live and work now for up to 10 years! Mesef sabi 5 people wey d place na dem permanent residence for black pearl towers. olodo omo ibo oshi. instead make u go find beta work do, u dey hear dey worry about tinubu wey bigger pass ur whole iboland. Omo ibo OP, eko atlantic no be ur mate or iboland mate o. https://pmnewsnigeria.com/2019/05/15/us-buys-1000-hectares-of-land-in-eko-atlantic-city-to-relocate-consulate/?amp=1 29 Likes 3 Shares
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Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Penguin2: 8:44pm On Jul 26, 2022 |
thebosstrevor1: Oh! So now it is a private enterprise? I thought it was Tinubu’s project? When did things change? 53 Likes 3 Shares |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Nobody: 8:51pm On Jul 26, 2022 |
Penguin2: This is the website of the Eko atlantic https://www.ekoatlantic.com/ this is the about page https://www.ekoatlantic.com/about-us/ The project is privately funded by South Energyx Nigeria Limited – the developers and city planners, a subsidiary of the Nigeria-based Chagoury Group of companies – working in strategic partnership with the Lagos State Government and supported by the Federal Government of Nigeria. Notable national and international banks have been quick to capitalise on the opportunities with some of Nigeria’s biggest – FCMB, First Bank, Access Bank and Guaranty Trust Bank – partnering with Eko Atlantic, with support from BNP Paribas Fortis and KBC. Where is it written that it is Tinubu project? 10 Likes 6 Shares |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by naija4life247: 8:52pm On Jul 26, 2022 |
It's waiting for Onitsha shoreline to develop first. 11 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Romanoff(f): 9:05pm On Jul 26, 2022 |
Because it's only Billionaires and looters of public fund who can afford it. 8 Likes 1 Share |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Thedon22: 9:14pm On Jul 26, 2022 |
thebosstrevor1:Thanks for educating them. Obis supporters are largely illiterates cum traders like their boss. Lagos is the centre of excellence. 19 Likes 4 Shares |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Nobody: 9:15pm On Jul 26, 2022 |
Romanoff: so are saying legitimate and successful businessmen or bank mds cant afford buying properties in Eko Atlantic 3 Likes 1 Share |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Penguin2: 9:17pm On Jul 26, 2022 |
thebosstrevor1: You have not answered my question… Are you people not the ones who always count Eko Atlantic City as one of the many legacies of Tinubu in Lagos? So you people knew it was South Energyx’s private enterprise yet you keep reeling it out as part of Tinubu’s selling point? 35 Likes 2 Shares |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Penguin2: 9:17pm On Jul 26, 2022 |
thebosstrevor1: What happens to those who are not Bank MDs? 2 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Penguin2: 9:19pm On Jul 26, 2022 |
Thedon22: The question you have not answered is, at what time did it stop being Tinubu’s legacy project in Lagos? 22 Likes 2 Shares |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Rostikol: 9:25pm On Jul 26, 2022 |
derecho: MUMU. EKO ATLANTIC IS A 100% PRIVATELY-FUNDED PROJECT. THERE ARE NO GOVT FUNDS TO BE 'EMBEZZLED'. MOST OF YOU NAIRALANDERS ARE SO IGNORANT, YET SO LOUD AND NEGATIVE.. 18 Likes 2 Shares |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Rostikol: 9:27pm On Jul 26, 2022 |
slimfit1: They also scammed the US which is building their largest foreign embassy there as we speak. IGNORAMUS. 15 Likes 1 Share |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Nobody: 9:31pm On Jul 26, 2022 |
Penguin2: The area is a prime area and not for the poor it is for HNI ( High net worth individuals) 2 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Midastorch(m): 9:36pm On Jul 26, 2022 |
TarOrfeeek: Most of you don't know anything about politics and policy making...there are immediate, intermediate and strategic policing/plan.The Eko Atlantic is a strategic plan that can even take up to 70 years to actualize..it's known that the Eko Atlantic will house the biggest American consul office, already it has the Azzura building which nobody in your family can live in ( Sorry, but it's the truth)...just like Ibeju FZ it has not even reach its expected plan yet... Shey you get am now, Nnewi man?? 3 Likes 1 Share |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Midastorch(m): 9:41pm On Jul 26, 2022 |
thebosstrevor1: If he did not approve it while he was a Governor and continuity with Fashola, it would have just been a dream.....but you know the Chagoury group is a good investment entity but most of your folks have negative things to say about the firm who's innocently investing in Nigeria.... 1 Like |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Nobody: 9:43pm On Jul 26, 2022 |
Penguin2: Tinubu proposed the project as far back as 2003 to protect the bar beach from overflowing, the idea brought about the great wall of lagos. A Concession Agreement was concluded in July 2006 between Lagos State Government and South Energyx Nigeria Ltd. Commencement on The Great Wall of Lagos could begin. 7 Likes 1 Share
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Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by iluvdonjazzy: 9:43pm On Jul 26, 2022 |
That's because Fashola is no longer the governor of Lagos State. |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Vulturereloaded: 9:45pm On Jul 26, 2022 |
Who will invest such money in a terrorist led country without a vision? When you can buy something reasonable in dubai, turkey or UK and earn Forex. 6 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by tctrills: 9:49pm On Jul 26, 2022 |
thebosstrevor1:You have a point but when you compare to similar projects in Dubai, you might find out that Lagos was not the best location for such project. Even Banana island has many unoccupied apartments. 4 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Gandollar(f): 9:52pm On Jul 26, 2022 |
Tinubu is a con man of different dimensions. These elitist white elephant projects are the conduits he used to milk Lagos, then turn around to weaponize poverty against his people. They had thought expatriates would swarm the place but that never happened. Now billions of naira project lays waste whilst the politicians have moved on. That place is another Tinapa. 7 Likes 2 Shares
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Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Nobody: 10:01pm On Jul 26, 2022 |
tctrills: The project was an incidental one, the idea was all about protecting the ocean from overflowing, then the developer decided to develop properties infront of the ocean fact is everywhere you go to around the world, lands overlooking the oceans or in front of a beach are always prime properties. so why waste that prime land when you can develop it 3 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by tctrills: 10:01pm On Jul 26, 2022 |
Midastorch:No investor would put down money he doesn't hope to see returns in his life time. If the investors behind Eko Atlantic were looking at 70 years as you claim, they would never have put down their money. Also, the American consul would not occupy the entire landmass. Clearly, Eko Atlantic is not a hot property. It's too pricy for the environment. Why would I want to spend so much to buy an apartment in Lagos when I can buy in Rabat, Prague, and Lisbon. Eko Atlantic many not be the first choice for global billionaires. Is the project a failure? Too early to say. But it is clearly very ambitious. 6 Likes 2 Shares |
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