In response to growing concerns and inquiries, the Kwara State government has issued a statement to clarify the recent developments surrounding the auction of Kwara Hotel and the N17 billion renovation project.
According to the statement from the office of the Senior Special Assistant on Communications to Kwara Governor, the earlier contract valued at N3 billion with Crystal Group was not a comprehensive remodeling of Kwara Hotel. Instead, it was described as a piecemeal, wing-by-wing, or incremental renovation arrangement. Crystal Group was also granted management rights for a period of 15 years.
In contrast, the newly awarded N17 billion contract to Craneburg is outlined as a comprehensive remodeling, involving upgrades and reconstruction that will replace every aspect of the hotel. Additionally, the Kwara State Government will retain the right to determine the management structure and associated terms.
The government clarified that everything in the hotel, except the carcass, will be replaced under the N17 billion contract. It emphasized that the Kwara Government is not making an immediate payment of N17.8 billion for the renovation, as the contractor will be responsible for the project’s financial investment. The repayment will occur over a structured period.
Amidst these developments, the Kwara State chapter of the Peoples Democratic Party (PDP) has issued a press release urging Governor Abdulrahman Abdulrazaq to ensure transparency in the process. The party seeks clarity regarding the controversial auction of Kwara Hotel properties and the planned N17.8 billion renovation.
Furthermore, ENetSuD, which previously disclosed the market value of Kwara Hotel as ₦5.4 billion based on an evaluation report from Jide Taiwo & Co, is challenging critics to present a contrary market value supported by credible evidence or cease their uproar.