BIPC MD ORDERS REVIEW OF LEASE AGREEMENT WITH PRESKEN

The Managing Director of Benue Investment and Property Company Limited (BIPC), Dr. Raymond Asemakaha, has ordered a strategic review of the Lease Agreement the company entered into with PRESKEN Hotels Lagos in 2020.

The Managing Director gave the order during a tour of assets of the company in Lagos State.

The MD directed the cancellation of the 16-year Lease after the end of the current Lease and ordered the value of the rent review from 5 percent to 25 percent payable every three years.

The managing director, while appreciating PRESKEN for the total renovation of the facility, also requested an upward review of the rent amount from the current ten million PRESKEN is paying to the company.

Representative of PRESKEN Fatai Owodunni Esq pledged his company’s readiness to adhere to the new terms reached by the current management of BIPC.

Fatai appreciated the new management of the company and assured that PRESKEN would ensure that the partnership was beneficial to both parties.