The House of Representatives, yesterday, said the Federal Government is losing over $90.5million annually as a result shoddy agreements between the Federal Airports Authority of Nigeria (FAAN) and the concessionaire of the Murtala Muhammed Airport, Lagos.
Chairman, House Ad-hoc Committee investigating the lease of Federal Government owned assets, Daniel Asuquo, stated this at the commencement of a two-day investigative hearing.
All these concession and lease agreements were made to ensure infrastructure development and promote economic growth, but this intention has been hampered by shady and unfavourable concession/lease arrangements in spite of the existence of different applicable legislations such as infrastructure concession..
“We cannot continue to borrow money to fund our budget when the Federal Government has the ability to earn hundreds of billions of naira from its leases and concessions. We have a solemn duty to help our country shore up its finances, and we shall leave no stone unturned in achieving this.”
