The House of Representatives, says the Federal Government is losing 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 concession, Mr Daniel Asuquo, stated this during the Inauguration of the committee in Abuja.
Mr Asuquo, faulted the build, operate and transfer agreement entered into by Federal Airports Authority of Nigeria (FAAN) and its
concessionaire on the Lagos airport describing it as shoddy.
According to him, the same shoddy concession agreement obtains in the maritime sector where the NPA concession agreement range of 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 Lawmaker, explained that the committee seeks to ascertain if due process was followed in the concession agreements as well as subsequent concession agreements that will be entered into by the Federal Government.