House Moves to Investigate Privatisation, Concession of 22 Government Silos

The House of Representatives has mandated its Committees on Agricultural Production and Services, Privatisation and Commercialisation, Public Assets and special duties to investigate the privatisation/concession of 22 out of 33 government silos for grain storage and other critical national assets in Nigeria and report back within four weeks for further legislative action.

The House also urged the federal government to, as a matter of priority, consider subsidising agriculture to revitalise the economy and improve food security in Nigeria.

These resolutions followed the adoption of a motion on the need to investigate the privatisation/ concession of federal government Silos in Nigeria moved by Hon. Inuwa Garba at plenary on Tuesday.

Garba noted that in September, 2017, the federal government commenced the process of concessioning 22 out of 33 silo complexes across the country to the private sector to ensure availability of affordable grains across the country.

"The need to investigate the entire process of privatisation or concession, including the criteria used for the selection of private entities, transparency in the bidding process to ensure accountability in public administration, and upholding the principles of fairness and equity," he said.

The House has also mandated its Committees on Industry, Labour, Employment, and Productivity to investigate the closure of local Companies and the departure of Multinational Companies from Nigeria and the factors militating against the ease of doing business in Nigeria.

This, it said, was with the aim of assisting the House in meeting its Agenda on Economic Growth and Development and forestalling the closure of Companies in Nigeria and report back within four (4) weeks for further legislative action.

The House resolved to implement clearly defined measures to address the challenges confronting the nation, particularly in the manufacturing sector, and create a conducive environment for businesses to thrive.

It also said the idea was intended to collaborate with the private sector to develop policies that would stimulate economic growth, create job opportunities in the country and also prioritise investments in the infrastructure and power sectors; provide tax incentives to encourage businesses and investors to invest in Nigeria.

These resolutions followed the adoption of a motion on the urgent “Need to Investigate the Closure and Exodus of Multinational Companies in Nigeria” moved by Hon. Patrick Umoh, Hon. Lukman Alani Mudashiru and Hon. Paul Ekpo at plenary yesterday.