Reps Say FG Loses Over 90.5m Annually To Faulty Leases, Concessions

23 March 2021 by Aisha Adesanya

The House of Representatives, says the Federal Government loses over ninety point five million dollars annually on the domestic terminal of the Lagos international airport due to faulty leases and concessions agreement entered into.

The Chairman House Ad-hoc committee investigating Government leases and concessions, Daniel Asuquo, stated this at the inaugural meeting of the committee in Abuja.

The lawmaker who faulted the build, operate and transfer agreement entered into by the Federal Airports Authority of Nigeria, FAAN and its
concessionaire on the Lagos airport described the entire process as a shoddy deal.

Asuquo also noted that , the same shoddy concession agreement was also obtainable in the maritime sector where the Nigeria Ports Authority concession agreement range is 15 – 25 and the estimated revenue to government is six point five four billion dollars over the period but only three billion naira has been realised since 2005 out of the total sum.

The Chairman added that the committee will ascertain if due process was followed in the concession agreements as well as ensure that Nigeria’s interest is protected In subsequent concession agreements that will be entered into by the Federal Government.

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