Fashola opens $97m Ikeja City mall

Lagos State governor, Mr BabatundeFashola, on Wednesday, inaugurated the $97 million Ikeja City Mall, one of the biggest shopping centres in the West African sub-region.The mall, located in Alausa, Lagos, is built by Actis, a leading private equity investor alongside its project partners, Paragon Holdings and RMB Investment and Advisory.Speaking at the event, Fashola said the idea of establishing the shopping mall was conceived in 2008, when he led a delegation of Lagos State government officials to London for an economic road show to explore possibilities for partnerships.According to him, the delegation met the Actis Group and discussed the possibilities of investment collaboration in three areas, which include power generation, intra-city railway and a new city mall.The governor further stated that the mall, which represented a total investment of $97 million, exposed the fallacy in the argument that the Lagos economy was losing business.He further said, 'as a government, our commitment and support for this mall was informed by business and other lifestyle considerations. It was our desire to use it to re-distribute traffic away from Lekki mall and in that way, re-energise the Ikeja Central Business District and its environs as a stand-alone and self-sufficient business district for almost four million residents that will ultimately reduce the traffic we see on a daily basis between the mainland and the Island.
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