House To Probe Leasing, Concession Of FG’s Assets

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.”

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.”