Why Billionaire Ernest Azudialu- Obiejesi Is Yet To Get Tenants For N24bn Nestoil Tower 4 Years After
Ernest Azudialu-Obiejesi, the billionaire behind Nestoil Limited is yet to begin getting return on a major investment he has spent so much to put in place.
The investment is his big-money 15floors structure on Akin Adesola Street Victoria Island Lagos.
Christened Nestoil Tower, Mr. Azudialu-Obiejesi’s high rise structure is a 24 billion naira investment.
Construction of the glittering edifice, built to serve commercial and residential purposes, was handled by Julius Berger.
Nestoil Tower was delivered and handed over to the billionaire owner in 2016.
But four years after, the place meant for commercial use is lying fallow with tenants yet to take up spaces at the tower.
Those who are familiar with happenings around the businessman disclosed the billionaire’s stance on the kind of rent the tower should command and refusal to shift ground as regards to accommodate offers made is the reason only his employees currently make use of the N24billion investment.
Checks by highstreet.ng showed the money man wants a thousand dollar on a square metre as rent.
