House to Probe Leasing, Concession of FG’s Assets

By Udora Orizu

The House of Representatives yesterday resolved to set up an Ad hoc Committee to review all related leasing and concession of federal government assets.

The committee is to report back to the House within six weeks for further legislative action.

The resolution was sequel to the adoption 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.

Okechukwu said: “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

“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. 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.”

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