The House of Representatives during a plenary on Monday resolved to set up an ad hoc committee to review all related leasing and concession of federal 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”, moved by the deputy minority leader, Toby Okechukwu.
Moving the motion, Okechukwu said too many government’s assets were in the hands of private individuals without commensurate benefits to the government.
He said the investigation would lead to a recovery of funds that could help lift Nigeria out of its present economic recession. He further that one of the most effective tools that the Federal Government could deploy to move the nation out of its present economic crisis is to plug revenue leakages and track its receipt.
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Okechukwu said: “Newspapers in Nigeria have been awash with the news that, in the face of dwindling revenues 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 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 market forces.
“This exercise would help the Federal Government recover lots of revenues in the hands of few individuals reaping off the system. If this urgent step is not taken, 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”.
