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Reps Probe Planned National Theatre, TBS, Stadiums’ Privatisation

The House of Representatives has resolved to investigate the privatization plan by the Federal Government on national assets, especially as the already leased ones have failed to generate maximal revenue for the country.

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The move is sequel to a motion of urgent national importance moved by the Deputy Minority Leader, Toby Okechukwu.

Okechukwu had earlier moved the motion on Thursday but the House stepped it down to confirm if it would not clash with an existing probe into abandonment and sale of Federal Government assets.

On Monday, the House revisited and adopted the motion.

In the motion, Okechukwu noted 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.

The lawmaker said the media have been awash with the news that the Federal Government is planning to sell off some of its assets and concession other assets to enable it raise funds for budget implementation, in the face of dwindling revenues generation from oil.


He said:-

“The House is worried that 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. The House is convinced 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.

“The House is convinced that this exercise would help the Federal Government recover lots of revenues in the hands of few individuals reaping of the system. The House is concerned that 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.”

Adopting the motion, the House resolved to set up an ad hoc committee to “review all related leasing and concession of Federal Government assets and report back to the House within six weeks for further legislative action.”

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