The House of Representatives on Tuesday inaugurated an ad-hoc committee to investigate and assess the performance and benefits accrued to the Federal Government from concessionaires operating federal air and seaport terminals and related shipping activities from 2006 to 2025.
The inauguration took place in Abuja, with Speaker Rep. Tajudeen Abbas represented by Rep. Loari Kwamoti. Abbas emphasized that the review is part of the House’s constitutional duty to conduct oversight, ensure accountability, and protect national interest in managing strategic public assets.
“Nearly two decades after the commencement of these concession arrangements, it is timely and imperative for the Legislature to undertake a comprehensive review of their outcomes,” the Speaker said. He noted that the exercise is not intended to undermine private sector participation but to determine whether the concessions delivered value for money to Nigerians.
The committee’s mandate includes examining concession agreements, assessing revenue flows to the Federal Government, reviewing compliance with contractual and regulatory obligations, appraising infrastructure development, operational efficiency, service quality, and labor issues, and identifying gaps in the concession framework.
Chairman of the committee, Kolawale Akinlayo, explained that the panel would engage key stakeholders, including the Nigerian Ports Authority, Nigerian Maritime Administration and Safety Agency, Nigeria Customs Service, the Nigerian Upstream Petroleum Regulatory Commission, concessionaires, shipping companies, domestic vessel owners, importers, and banks.
Akinlayo stressed that the probe aims to ensure revenues due to the Federal Government are fully captured, operational inefficiencies are addressed, and Nigerians derive maximum benefits from port and terminal operations. He urged committee members and stakeholders to approach the exercise with professionalism and a sense of national duty.
The ad-hoc committee is expected to submit its findings and recommendations to the House upon conclusion, providing a framework for improved governance, investor discipline, and public confidence in Nigeria’s concession programme.
Leave a comment