FG Faces Potential N183 Billion Loss from 25 Unsuccessful Concessions

The Federal Government is at risk of losing investments totaling N183.3 billion as a result of failed contractual agreements involving 25 concessioned public facilities and infrastructure granted to private investors.

Despite receiving approval from the Federal Executive Council, these projects faced challenges such as changes in foreign exchange rates, government policies, interest rates, and insecurity, preventing their realization.

This development comes amidst a recent downturn in revenue generation, leading to increased borrowing and efforts by the Minister of Trade and Investment, Doris Anite, to rehabilitate various sectors.

The assets, listed under Custody (Post-Contract), cover projects in transportation, ports, health, marine, security, aviation, and hydropower plants, with only five out of 16 projects specifying investment amounts, while 11 others lack investment figures.

The analysis of the documents reveals that some projects, dating as far back as 2003, remain in dispute, deterring potential investors.