Reps to probe planned privatisation of National Theatre, TBS, stadiums

The House of Representatives is set to probe the Federal Government’s planned privatisation of the National Theatre, Tafawa Balewa Square, both in Lagos, and other national assets, especially as the already leased ones have failed.

The decision was based on 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 the motion and adopted it.

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 was to plug revenue leakages.

He said, “The House is worried that issues bothering on lease of the 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.”

The House resolved to set up an ad hoc committee to “review all related leasing and concession of the Federal Government assets and report back to the House within six weeks.”