A video circulating online has shown a gigantic edifice that belongs to real estate tycoon, Sir Olu Okeowo in Ikoyi Lagos being demolished by the Lagos State government.
The video shows two bulldozer tractors pulling down the partially-completed multi-millionaire structure in front of the full-glare of spectators.
While OYOGist.com is yet to establish the cause of the demolition, multiple sources have claimed that the demolition is politically-motivated, while others believe the government must have compensated the billionaire businessman before embarking on the demolition.
Worth an estimated $250 million US dollars, Olu Okeowo who is the founder of Gibraltar Construction Nigeria limited is famed for his taste in high luxury acquisitions, including owning one of the most expensive residential homes in Lagos, and boasting a private collection of luxury cars such as Rolls Royce, Bentleys and other expensive cars.
It should be recalled that the Lagos State government recently tightened it’s regulations around construction in the state, particularly those in the highbrow areas of Banana Island and Ikoyi. The past couple of years have witnessed several houses collapsing while being occupied in Lagos, forcing the government to embark on stricter rules around building construction in the state.
Watch the video of Lagos State demolishing Sir Olu Okeowo’s Ikoyi mansion below:
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