Tinubu renews N2 billion monthly fees from Lagos Govt

Source: pointblanknews.com

A new agreement that will see Alpha Beta Company owned by former Governor Ahmed Tinubu milking an estimated N2 Billion monthly as consultancy fees from the Lagos State Government has put to rest the acrimony between Governor Babatunde Fashola of Lagos State and Tinubu, his political godfather and leader of the Action Congress of Nigeria, ACN, Pointblanknews.com has learnt.

Alpha Beta Company was blacklisted by the Abuja Environmental Protection Board, AEPB, for failing to render account of the fees it collects on behalf of the Federal Capital Territory, FCT, in respect of solid and liquid waste bills from residents in the territory. The Tinubu's firm was contracted in 2009 by the FCT administration, under then Minister, Alhaji Adamu Aliero to be responsible for waste management fees.

Besides assurances of jumbo road construction contracts for his company, Hitech Nigeria Limited, Fasola has guaranteed Tinubu a 30 years concession on the Build Operate and Transfer as far as the Lekki-Epe highway is concerned.

And to ensure a smooth sail to the new agreement, Lagos Deputy Governor, Adebisi Sosan was kicked out by Tinubu because he believes she is disloyal to him considering the fact that (Tinubu) imposed her on Babatunde Fashola, whom he spent billions to install, sources told Pointblanknews.com.

Even though Fashola is unhappy with the switch from Sosan, to Women Affairs commissioner, Adejoke Adefulire, he has decided to keep quiet because Tinubu would have used his influence to replace him disregarding his sterling performance in Lagos.

Action Congress Chairman, Lagos West, Tunji Abidakun, is already spoiling for a showdown with Tinubu, describing Sosan's removal as unjust. Sosan is from Lagos West. But Tinubu has dismissed him, pointing out that Adefulire is also from Lagos West.

Trouble started for Sosan during the True Face of Lagos saga when the nascent group leveled series of allegations bothering of large scale fraud against Fashola. Pointblanknews.com sources hinted that Tinubu tried to use the group and the state legislators to rubbish Fashola due to strings of disagreement over which contracts his firm, Hitech, should handle in Lagos.

One of such projects is the multi billion naira, Badagry-Mile 2, 10 lane highway built by Julius Berger, and the Lekki-Epe highway which Tinubu arm twisted Fashola and ensured he got a 30 year concession on Build Operate and Transfer.

Pointblanknews.com learnt that when the state lawmakers decided to probe the allegations, Tinubu expected Sosan, to back the move. Said the source “Sosan was brought there by Tinubu, so when the fight was on, and we all know Asiwaju wanted to remove Fashola, he expected Sosan to be on his (Tinubu) side, or at best lie low, but she decided to back her boss all the way.”

The source continued “it was all about the influence of Tinubu, he wanted to run the Government. He was angry Fashola won't let him. He wanted the Badagry – Mile 2 contract but when Fashola gave it to Berger, because Tinubu had the Lekki-Epe deal, he got angry. He also encouraged insubordination among some commissioners and aides loyal to him (Tinubu) for example Muiz Banire and segun Ayobolu who resigned sometime ago”

Pointblanknews.com learnt that Tinubu told Fashola to let go Sosan if he wanted to return. Said the source “He told him clearly that he would be replaced if he insisted on having Sosan. He did not endorse him until he agreed to some terms. That was why Tinubu did not acknowledge Sosan when he endorsed Fashola. Don't forget the issue of one term was agreed when Fashola came, so Tinubu told him to let go. He also got some commitments concerning contracts and the sustenance of the N2 Billion consultancy fee for his Alpha beta Company.”

Under Tinubu as the Governor of Lagos State, the ABC Consortium being tax consultant to the Lagos State government, own by Tinubu but operated by his cronies, was able to hit the revenue target of N7.7 Billion every month as against N600 Million which was the steady monthly revenue of the state up till 1999.

Sources told Pointblanknews.com that Tinubu decided to appoint ABC Consortium, his private concern for business expediency and “optimum revenue mobilization.” The Consortium was said to have raised the state revenue base but at enormous cost to the same tax payers. ABC Consortium collected N1 Billion as professional fee every month. And when Tinubu handed over power to Mr. Fasola, the same legacy was passed on.