Tinubu, who is said to be the beneficiary of major juicy contracts from Lagos state since he installed his crony, Babatunde Fashola, as his successor last year, personally handled the hotel deal said to be worth about $40 Million.  The deal, which was initially disguised as a public –private partnership between the Lagos State government and some private entities including a commercial bank, is a bona fide contract between Tinubu and the state government according to the latest information available to Saharareporters. The floating hotel, which was based in the UK before its sale, was owned by a Finnish businessman.

Not surprising for a man whose past is shrouded in dubious mystery and deception, not surprising for a man linked to drugs.

Is this the true meaning of "public – private partnership". We've been hearing a lot about these sorts of deals lately. . .

[size=14pt]Does it really mean corruption?[/size]

Why don't they just turn the case over to EFCC instead of wasting time.

Ibime:

This yacht was parked near my house before Tinubu bought it. . . . when it was in the UK, it looked better than this. . . . only one year later, Naija don spoil am finish.

Bros, take am easy on naija ooooooooooo.

SapeleGuy:

Why don't they just turn the case over to EFCC instead of wasting time.

Lagos state house of assembly can handle it!!

Another money making saga for useless past leader.

Tsiya:

Yeh, the idea itself is just ridiculous

If Lagos is suffering from lack of hotels rooms, why not invest directly. Sign a contract with Julius Berger, give them the money, and the plot and give them time. These guys I promise you will deliver the hotel within a possilbe short period of time.

It is just ridiculous how our so called leaders comes with excuse when it come to contract and contracts award. Building infrastructure doesnt take decades. It is just the will

Don't mind them jare. This one is only fit for dumping at Owode Onirin.
Next thing, they will say they want to buy a submarine to ease transportation problems under "public – private partnership"; all with certain corrupt names in the small print.

Nchara:

Fashola is probably about half more competent but completely as corrupt as Tinubu

We be watching.

I saw that hotel several times when it was moored at the Docklands. It really looked nice and imposing then, it is shocking how ugly and rusted it has already become.

The news at the time was they were planning to use it for the ongoing U-17.
They were obviously trying to copy this:
http://www.travelwires.com/wp/2009/09/floating-hotels-come-to-sa-for-2010-ikapa-tours/

It may have started out as a well-meaning initiative, but has ended up a disaster.

The govt is denying this project lately even as sahara is pointing fingers at them. may be they are denying it because of the scandal that came out of it.

MrCrackles:

Look at the state of the yatch already
Was that shit bought brand new for that sum or what

Nah, that yacht was parked at Royal Albert in Docklands, on the DLR line. . . . it looked a lot better than this when it was there. . . . perhaps the humidity in Nigeria peeled the paint off. . . .

Of course, we have the usual suspects and olodos spreading lies again.

When are you people going to get a life and stop hopping on what you intend to be and what you wish your own states emulate and be like.?


The freeking Yatch doesn't belong to the Lagos State Government.




Sunborn Yacht - 'Lagos' Involvement is Infrastructural'

http://allafrica.com/stories/200910210099.html[b]


Lagos State Government Cleared Of Financial Involvement
[/b]
Oct 15, 2009 - Lagos State Government was Thursday cleared of any financial commitment to the Sunborn Yacht Hotel as financiers of the investment; Diamond Capital Limited said the State Government has no hand in the hotel.

At a press briefing at the Lagos House Alausa, Ikeja, after a meeting chaired by the State Governor, Mr. Babatunde Fashola (SAN) to resolve the various issues surrounding the hotel, Managing Director of Diamond Capital Limited, Mr. Tony Onwu confirmed that the Lagos State Government and the taxpayers in the State have no financial commitment to the hotel.

In a short statement he read to pressmen at the occasion, Onwu declared, “Lagos State Government and the taxpayers in Lagos State do not have any financial commitment or otherwise to the entire investment that has brought this project this far”.

http://www.tundefashola.com/archives/news/2009/10/15/20091015N11.html



Lagos Government Did Not Buy Sunborn Yatch – Fashola

Feb 19, 2009 - Lagos State Governor, Mr. Babatunde Fashola (SAN), at the weekend stated categorically that the Lagos State Government did not commit any money to the purchase of Sunborn Yatch on the Lagoon along the Marina in Central Lagos.

http://www.tundefashola.com/archives/news/2009/02/19/20090219N01.html

Hey Beef, I know you miss your man. Here you go,

^
You can't even read Check my id again ode. Poor you.
Anyways how are you taking the failure of your attempted oil bunkering these days? Still ill?

You're Beef to your lover "Tinubu". Looks like he's ready to eat you up like steak and spaghetti.

abeg keep quiet and go make fufu and stew for your "asiwaju", lmao

^
. . .The behaviour of some of Fashola's spare babes sha.

How is the failed oil bunkering attempt na?

Omo, you be serious ashawo sha. small time you dey love Tinubu, now you dey eye fashola.

you'z a hoe, lmao.

^
See this okokomaiko mutant o!

Don't worry, when your people finally buy WWII submarines to help transport between Idimu and Idumota, your eyes will open.

Right now your're still honeymooning with smooth talking Fashola. Abi he gave you one of them 50 year old multi billion Naira "Green Goddess" fire engines to sell for pocket money? Nobody has ever seen any one since they were bought.

Ol boy confess na

upon hearing and seeing this vessel last year, the ,moment i heard Tokunbo Akikuyomi was involved, i knew it was fraud.
I have never seen a more despicable Nigerian politician that blows so much hot air and stands for nothing.
That man is the political equivalent of Dele Momodu.

talks big but like Dele Momodu can be bought over again and again.
You can never define his stand;as unstable as water.

You're sooooo right

What are they saying here?