Reps probe lease of federal assets

Posted by admin Headlines, House Sunday, December 27th, 2020

From Ndubuisi Orji, Abuja

The House of Representatives resolved on Monday to set up an ad-hoc committee to review all leasing and concession of federal assets across the country.

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

This follows the adoption of a motion by Deputy Minority Leader Toby Okechukwu on the urgent need to investigate the lease and concession of government assets.

Okechukwu, in his motion, said there has been news in the media that in the face of dwindling
revenues generation from oil, the Federal Government is planning to sell off some of its assets and concession other assets to enable it to raise funds for the implementation of the budget.

He expressed worry ‘that Issues bothering on the 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.’

The lawmaker argued that ‘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.’

Okechukwu noted that the most effective tools that the government can deploy to move the country out of its present economic woes are to plug revenue leakages and track receipts.

-Sunwp_posts