Reps worry over Nigeria’s $5.7billion loss to public infrastructures lease, concession; maritime worst hit

The House of Representatives has revealed that the Federal Government has lost over $5.7 billion to concession of public infrastructures to private companies in a bid to bridge development gap in the Country.

The Chairman of the House Ad-hoc Committee investigating the Leases of Government Assets, Dan Asuquo revealed this on Tuesday at the commencement of the investigation of the leases and sales of Government assets.

Asuquo said that the Committee is worried over lack of oversight on leases and asset sales of most of the Government properties to private companies.

He noted that the maritime sector suffered the most losses, as 27 ports were concessioned to private companies.

Asuquo advised that the Executive should therefore discontinue its model and opt for the Public Private Partnership in realization of the fact that the objectives may not be realized if it continues to operate such.

The Chairman of the Committee further explained that the committee’s duty is to ascertain whether due process was followed in the plans to also concession about four International Airports in the country and other public Infrastructures.

The assignment according to him also includes investigating the concessioner’s technical and financial ability to do the job at the Airports.

It would that the Executive had recently through the Minister of Aviation Hadi Sirika, announced plans to concession four International airports in Nigeria.

These are, Murtala Mohammed International Airport Lagos, Aminu Kano Airport, Nnamdi Azikiwe Airport Abuja and the Port Harcourt International Airport Omagwu.

Consequently, the House at Plenary on December 21, 2020, adopted a Motion and mandated its Ad-hoc Committee, to investigate the matter as well as all the leases and agreements entered into by the Executive.