By EricJames Ochigbo
The House of Representatives Committee on Public Assets has recommended suspension of activities on a leased 10 hectres of land in Ikeja, Lagos state belonging to the Federal Radio Corporation of Nigeria (FRCN) over alleged abuse of concession agreements.
The Chairman of the committee, Rep. Ademorin Kuye (APC-Lagos state) said that the recommendation followed a resolution at the committee meeting with the Director-General of FRCN, Dr Mohammed Bulama in Abuja on Wednesday.
Kuye recalled that a Public Private Partnership (PPP) agreement was reached between FRCN and Fish Valley Investment & Property Ltd a lessee developer organisation in 2014.
He said that it is worrisome for a company who went into PPP arrangement with Federal Government’s agency to develop the 10 hectres of land, failed to comply with the terms of agreement.
According to the lawmaker, instead of being compelled to do the right thing or terminate the lease agreement, the lease term was increased from 35 years to 55 years in favour of the company.
Kuye said that extension came at the end of the previous administration alleging that the company had not complied with the terms of agreement by developing the area.
The rep decried the extension of the 35-year agreement which was reached in January 2014, without any meaningful development or work done.
“Further activities of the lessee, Fish Valley Investment & Property Ltd on FRCN’s land in Ikeja, Lagos should be suspended until a thorough investigation is concluded,” he said.
The chairman said that some of the FRCN’s properties are left unkept while some of the plots of land have been encroached.
He directed the DG to furnish the committee with documents regarding the status of its assets nationwide on or before March 14, 2025.
In his remarks, Bulama expressed concern over the elongation of the term from 35 to 55 years when serious work had not been done by the company.
“This is is the question I have asked several times. I came into office in 2023 after this agreement had been reached,” he said.