Representatives threaten to cancel PPP and concessions and invite transport ministers and NRC

Representatives threaten to cancel PPP and concessions and invite transport ministers and NRCRepresentatives threaten to cancel PPP and concessions and invite transport ministers and NRC

The House committee investigating the public-private partnerships and concessions program has threatened to terminate all leases and concessions in the federal Transportation Department.

Rep. Ademorin Kuye, Chairman, House of Representatives Committee on Public Assets, made this known when the Federal Ministry of Transport delegation led by the Permanent Secretary, Pius Oteh, appeared before the committee in Abuja.

He said the PPP and concession agreement of the Nigeria Railway Corporation (NRC) and the Railway Property Management Company Limited (RPMC) could be terminated for non-compliance with the scope laws.

Oteh, however, told the committee that the ministry had over 170 leases but was unable to provide relevant documents required by the legislature to demonstrate whether the scope laws were being complied with.

One of the required documents is the payment receipt, which, according to the legislator, was not attached to the documents submitted by the ministry, contrary to his request.

The committee in its resolution invited the Minister of Transport, Chairman of the Nigeria Railway Corporation and other relevant organizations to appear at its next meeting. The Chairman warned that the Committee would not hesitate to invoke relevant constitutional provisions if an organization did not respond to its invitation.

some textsome text

“As you may know, if a minister, agency or department head does not respond to this committee’s invitation, this committee will not hesitate to invoke the relevant constitutional provisions. “We can issue an arrest warrant and instruct relevant security agencies to bring this person here,” he said.

He pointed out that improper management of state assets through public-private partnerships and concessions is one of the biggest challenges in infrastructure development.

It is recalled that the House of Representatives, through its February resolution, mandated the Committee on Public Assets and Special Duties to examine public-private partnership initiatives and concession agreements across the country.

The Committee noted that despite initiating several PPPs and concession programs, results were mixed, with some projects stalling and others failing to deliver expected results. Foreign investors increase positions in Nigerian Eurobonds, yield fluctuations

Leave a Comment

Leave a Reply

Your email address will not be published. Required fields are marked *