11Plc has explained that the popular Mobil Filling station located by the Maryland roundabout along Mobolaji Bank Anthony Way, had to be demolished (on Monday, December 7th, 2020) because it occupied right of way.
What Did Mobil Oil Nigeria Change Its Name To?
Mobil Oil Nigeria Plc changed its name to 11 Plc (pronounced as “Double One Plc”) sequel to the resolution passed by the company’s shareholders at its annual General Meeting (AGM) held on 24 May 2017.
The Company has since obtained a new Certificate of Incorporation from the Corporate Affairs Commission (CAC) bearing the new name.
The change of name will be implemented by The Nigerian Stock Exchange with effect from Friday 11 August 2017.
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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 over 30 years.
Official Statement On The Demolition Of Mobil Filling Station, Ikeja
In a statement published on the website of the Nigerian Stock Exchange (NSE), 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,”) 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.”
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11Plc said the statement it issued was for the proper guidance and information of the public and to eschew all form of speculations regarding the incident.
It appears the demolition had been 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.
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A local online news outlet reported in 2018 that the Lagos state ministry of physical planning and urban development reportedly planned to demolish more 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 in Lagos state.
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