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Why WEMPCO Group seeks to offload Oriental Hotel

…asking price $250m, may exit Nigeria entirely…14,000 jobs could be lost at steel plant alone

Oriental Hotel

A major debt burden is weighing heavily on Western Metal Products Company Limited (WEMPCO) Group as it plans to sell its flagship five-star Oriental Hotel, BusinessDay has learnt. According to a document seen by BusinessDay on Tuesday, owners of the Luxury Oriental Hotel, situated in-between the Lekki and Victoria Island areas of Lagos, are asking…

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