House of Reps to probe N230 billion abandoned projects

Nigeria’s House of Representatives have commenced a probe into a number of abandoned projects worth N230 billion across the country.

This decision followed a report by the chairman of the ad-hoc committee on the probe, Ademorin Kuye (APC-Lagos), after House Speaker Femi Gbajabiamila had earlier declared a public hearing on the matter open on Tuesday, Vanguard reported.

According to Mr Kuye who relied on a conservative estimate put together by the Nigerian Society of Builders(NSB), the value at these Federal Government abandoned properties in Lagos, Ibadan, Enugu, Port Harcourt, Kano, Kaduna and other cities are projected at N230 billion.

Mr Kuye added that preliminary findings showed that some of the government’s properties were even being used by individuals and corporate bodies, who have done so without remitting any revenue to the federal purse.

He explained that the estimated economic loss at the national stadium, Surulere, Lagos, from the period of concession/abandonment in 2004 till date, is about N52.6 billion, while about N126 billion had been lost in rent to the none-usage of the NET building between 2006 to date.

Most of the abandoned properties in Lagos were left without care since the federal sit of power moved from Lagos State to Abuja fully in 1999.

The leadership of the House of Representatives resolved to do everything within their powers to ensure that the properties are put to proper use especially in the face of the effect of the corona virus on the Nigerian economy and the revenue challenge that the Federal Government is currently facing.

The House of Representatives had carried out similar investigations into properties of the Federal Government that were either abandoned or concessioned without due process.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.