Tony Elumelu, the Nigerian entrepreneur and chairman of Heirs Holdings, speaks to AFP in an interview on October 11, 2013 in Washington, DC. Elumelu has promised to invest $2.5 billion in the "Power Africa" initiative of US President Barack Obama which aims to expand energy in sub-Saharan Africa, where some two-thirds of people lack regular power. But a complementary effort in the US Congress has hit a snag in a dispute over requirements that certain US-backed projects be low in carbon emissions blamed for climate change. AFP PHOTO SHAUN TANDON (Photo credit should read SHAUN TANDON/AFP/Getty Images)

Transcorp Hotels, the largest publicly quoted hospitality group in Nigeria has started constructing a 25-storey hotel property in Lagos.

The Chairman of the Group, Tony Elumelu was quoted by an online new platform,, to have disclosed the plan at an interactive session hosted by the Lagos state government with the business community.

“We are planning to build a 25-storey hotel in Lagos… we will see the governor and discuss with him on how we can get their support. We want to do this project to further create jobs for the people of Lagos state,” he said.

Lagos is Nigeria’s commercial capital and West Africa’s largest economy with over 25 million people living in the city and its suburbs.

The hotel is to be situated at Glover Road, Ikoyi, a highbrow business district on the Lagos Island. When completed, the hotel will be competing with Milan Group’s Intercontinental Hotels, Radisson Blu and Eko Hotel.