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Home Industries Energy

11Plc explains why Mobil filing station in Maryland was demolished

Chike OlisahbyChike Olisah
2 years ago
in Energy
Elevated direct costs restrain MOBIL earnings growth, 11 Plc (formerly Mobil Oil Plc) to delist from NSE, appoints new director
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A popular Mobil Filling station located by the Maryland roundabout along Mobolaji Bank Anthony Way was demolished on Monday, December 7th, 2020.

The demolishing surprised several customers of the filling station and commuters as they wondered why local authorities will demolish a filling station that has been in the location for years.

READ: Sterling Bank gets CBN approval for restructuring

Why it was demolished

In a press release published on the website of the Nigerian Stock Exchange, 11 Plc the operators of Mobil Filling Station franchise explained that the demolition was due to Lagos State Government’s “right of compulsory acquisition for public purpose,” and said the government followed due process.

READ: HealthPlus crisis: Partners allegedly attempt take over at head office despite court order

The press release titled: DEMOLITION OF MOBIL SERVICE STATION AT MARYLAND, IKEJA, LAGOS and signed by Company Secretary, Chris-Olumayowa Meseko, read in part;

“This is to inform the shareholders of 11Plc (“Company,”) stakeholders and the general public that the demolition of the Mobil Service Station at Maryland, Lagos State on the 7th December 2020 was carried out pursuant to the valid exercise of the right of compulsory acquisition for public purpose by the Lagos State Government following due process.  This notice is for the proper guidance and information of the public and to eschew all form of speculations regarding the incident.”

READ: FAAC disburses N639.9 billion in October 2020, allocation drops by 6.2%

What this means

It appears the demolition was carried out by the Lagos State Government, relying on its powers to take over private property if it is for the public good. However, the State Government is expected to have compensated 11 Plc and the owners of the property for the acquisition.

READ: Bill to regulate real estate scales through 2nd reading in Lagos Assembly

Inside Mainland, a local online news outlet that reports on news in and around Lagos reported in 2018 that the Lagos State Ministry of Physical Planning and Urban Development planned to demolish filling stations located along the same axis. This includes the popular Oando station and Conoil, to make way for the expansion of the road as part of its constructions of BRT Lanes.

READ: Japanese investment company test Ripple’s use in FX market

See footage of the demolition.

HAPPENING NOW

Mobil Filling Station and Mr Biggs at Maryland presently being demolished by the Lagos State Government.

Govt officials here confirm to us that the site will be used by LAMATA for a proposed BRT bus park.

More details soon pic.twitter.com/V1neRXhOMh

— Inside Mainland (@InsideMainland) December 7, 2020

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