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Published On: Tue, Dec 22nd, 2020

Reps to probe leasing, concession of FG’s assets

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…decries concession National Arts Theatre, TBS, RBDA, Lagos, Abuja stadia

By Christiana Ekpa

House of Representatives on Monday resolved to set up an Ad-hoc Commitee to review all related leasing and concession of federal government assets.
The resolution was reached at the plenary sequel to the consideration of a motion titled “Need to Urgently Investigate the Governing Lease of the Federal Government-Owned Assets”, sponsored by the Deputy Minority Leader, Hon. Toby Okechukwu.
Moving the motion, Okechukwu said that to many of government assets are currently in the hands of private individuals without commensurate benefits to the government.
He said that the investigation would help recover money that will help lift Nigeria out of its present economic recession.
He noted that one of the most effective tools that the Federal Government of Nigeria can deploy to move the nation out of its present economic crisis is to plug revenue leakages and track its receipt.
The lawmaker also noted that “Newspapers in Nigeria have been awash with the news that, in the face of dwindling revenues generation from oil, that the Federal Government of Nigeria is planning to sell off some of its assets and concession other assets to enable it raise funds for budget implementation”.
Okechukwu also expressed worry that “issues bothering on lease of Federal Government assets have always been compromised by the key actors for their selfish benefits to the detriment of the nation, with no much value at the end of it all.”
He added: “There is an urgent need to review all leases of Federal Government assets with a view to expunging all sale provisions and enacting new ones in line with the current state of affairs to be determined by the market forces.
“This exercise would help the Federal Government recover lots of revenues in the hands of few individuals reaping of the system
“If this urgent step is not taken immediately, the same trend would continue especially with the Federal Government intention to concession the National Arts Theatre, Tafawa Balewa square, all the River Basin Development Authority, the National Stadium in Lagos and the Moshood Abiola Stadium In Abuja.”
Adopting the motion, the ad-hoc yet to be inaugurated was given 6 weeks within which to report back for further legislative action.

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