House of Representatives has mandated its Committee on Privatization and Commercialization to unravel the non compliance with the terms and agreements in the privatization of enterprises.
The committee was also mandated to proffer solution to enhance productivity.
The resolution followed a motion titled: ‘Need to Investigate the Non Compliance with the Terms of Agreements by Concessionaires and Privatized/Partially Privatized Government Companies sponsored by Gabriel Kolawole on the floor of the House.
Giving insight on the motion, Hon. Kolawole noted that the non conformity to the terms of the agreements had caused the country enormous loss in income, owing to the non-remittance of appropriate taxes and other financial commitments.
In his contribution, Ibrahim Olajideb said, “If we don’t take time as we are being short changed, the unemployment situation will get out of hand and the economy would be in trouble”.
Hon. Ossai Ossai pointed out that the motion was about investigation and would unravel a lot of issues as well as save the nation a lot of revenue.
The motion was unanimously adopted and referred to the committee to report back within eight weeks.

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