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Sanusi Faults Revocation of Lagos-Ibadan road Concession  print

Published on November 28, 2012 by   ·   16 Comments

Mallam Sanusi Lamido Sanusi, governor of the Central Bank of Nigeria,CBN,has faulted the recent revocation of the concessioning contract of Lagos-Ibadan expressway awarded to Bi-Courtney Nigeria Ltd by the Federal Government of Nigeria.

Speaking at a forum with the theme”The Pivotal Role of the Capital Market in the Transformation Agenda for the Nigerian Economy”,the CBN boss reasoned that rather than cancel the contract, it should be allowed to stay.

According to him,the government don’t have to spend funds on the establishment of ports,roads,and other infrastructures that can be concessioned.The government should concentrate on the provision of good education,health care,defence,employment and housing for its citizenry.
He argued that if ICRC says a road is concessioned ,and the work minister says he was not consulted,who takes the blame?

The CBN governor also wondered why Nigeria should have many senators and other legislators,many states and local government councils.This explains why the recurrent expenditures of various governments have been on the high.Sanusi lamented that over 70per cent of the nation’s revenue goes to the payment of salaries and allowances to public servants with politicians getting a larger part he noted.

“How do you develop the economy when payment of salaries and allowances have already consumed the resources leaving nothing to work with,and why should tax payers funds be used to pay workers salaries” he asked.

By Clement Oriloye

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Posted by on November 28, 2012, 5:33 pm. Filed under Business, Business News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

16 Comments for “Sanusi Faults Revocation of Lagos-Ibadan road Concession”

  1. seye

    Useless gworo chewer!!! guess you went to KC with Babalakin abi, oniranu!!!! so people should continue to die whilst he continues faffing about? mschew!!!

    • Jo

      You can abuse people when you do not agree with their comments, but the courts will decide the legality of the cancellation of the concession. Sanusi is right that concessions benefit society in general, but arbitary cancellation of an agreed upon contract will not stand in a court of law. Babalakin is no different from the Benin Ore road saga which has more of a checkered history. If government was going to cancel the Lagos Ibadan concession, then the Ore Benin road contract should also be cancelled and many other roads in Nigeria. i don’t know Babalakin or Sanusi, but this is a wake up call to Babalakin, and the fake EFCC arrest will be thrown out in court. EFCC is a distraction for the illegal act perpetrated by GEJ, but then how can babalakin be guilty of money laundering for Ibori who the Nigerian Federal court led by Justice Awokulehin was adjudged not guilty on 170 counts of fraud and money laundering.

  2. austin

    u are just d central bank governor,what gives u d right to start making comment about d government? this is d first cbn governor on earth to be involved in politics.d guy is too stupid for what he is.

  3. There is no doubt that President Goodluck Jonathan is harbouring and working with his enemies. What is this man still doing in his administration?

  4. seyi law

    This guy never ceases to amuse me, he talks too much. What is his problem with the revocation of the so called contract? He needs to be told to shut his mouth. No other central bank governor in the whole world talks the way he does, criticizing every move of the government. I think he should just resign and form his own political party or better still joined the opposition and stand for election.

  5. Dont blame Sanusi, blame it on the President who allows him to critise his adminstration with impunity . The Northerners asked for the head of Soludo for mentioning to bring the Naira at par to the US Dollar. The guy is delving from road contracts to Donations, from sacking of civil servants to chietancy title etc etc. We know he is working for the opposition to rubbish GEJ and PDP.

  6. Ibadan Pickin

    With all fairness, what Governor Sanusi is saying really makes sence. Paying salaries with 70% allocation every month and the Governors empezling the 30%. However, what he is saying will definately work in an enviroment where the govt. is providing and developing the infrastructure for the citizen to start their own business not in ours where you spend all your profit on fuel alone. Your comment on Ibori cancelled contract get as e be…..abi 10% don change hands?

  7. naubiko

    If you lock this funky mallam inside a room he’ll argue with himself.Don’t know what this is supposed to achieve. If he wants to criticize he should resign as the CBN governor.

  8. Prince T

    I think the mallam want to start preparing for the emir of kano job. He is sure his contract will not be renewed. He wants to be seen as not supporting corruption or the government. This amy haumt his ambition. He must note that we are aware of his donation of CBN money to Kano.

  9. small pikin

    sanusi….. na wah oh

  10. ABDOUL

    dont you guys know that the more noise you make in the media the more popularity you get in the North and for your information these guys has tasted the kind of power he never envisage in his life time and he wants to remain in power by all means, so dont be surprise if the guy contesting for the governorship of kano state as he is already preparing ground for himself, sanusi is a very clever rogue and he does not want to fall into the political pit that el-rufai fell into

  11. ABDOUL

    the only unfortunate thing about the way these guy is going all in the name of achieving his political ambition is that is at the detriment of the common man like you and me,may GOD save us from the likes of SATANIC SANUSI

  12. Jimo Owoseni

    Going by the comments I read here so far regarding Sanusi, I think Nigerians are mentally doomed as a people. What majority are saying here is once you become part of government apparatus, you authomatically lost your fundamental right to freedom of expression. You must collude and collaborate with the government to foist evil and agony on the people of the country. In my view, Sanusi is the most civilize government officer I have ever seen in this part of rotten society. The government is to serve the people which means every body in government must speak for the people and not operating a kind of secret society which you want Sanusi to be part of. As a Governor of the central bank, nobody has done him any favour, it is his right to be and the right of other qualified Nigeria but in his case, he is exercising that right within the ambit of Nigeria constitution and his constitutional right. It is sad to note Nigerians as a people are really at mental cross-road. Very sad indeed.

  13. Sanusi, the logic is because the Nigerian workers are the tax payers, you need them more than ever to get hired.You can streamline hirings by attritions, etc, but not lay them off.If you get rid of half of the work force, how are you going to generate revenue?If you say presendential system, which Nigeria practises is expensive, yes, agreed, but not the workers to bear the brunt.Somebody got to work to bring the income in.Tax more if need be and make the wealthy pay more to improve the economy.Stop dabbling into issues you think you understand but you don’t.You want to be a politician,fine, quit and become one and STOP your reasoning of half -educated person.
    The Nigerian people are over worked and underpaid, as it is, but do not incur the WRATH of the people and GOD.Stop the nonsense!

  14. koko

    Concession contract – A negotiated contract between a company and a government that gives the company the right to operate a specific business within the government’s jurisdiction, subject to certain conditions. A concession agreement may also refer to an agreement between the owner of a facility and the concession owner or concessionaire that grants the latter exclusive rights to operate a specified business in the facility under specified conditions. Regardless of the type of concession, the concessionaire usually has to pay the party that grants it the concession ongoing fees that may either be a fixed amount or a percentage of revenues.

    Awarding Concession
    Generally, the awarding process has to be competitive to ensure efficiency. The common trend is to follow a competitive bidding process. However,
    in some exceptional situations the government has to go for direct award of the concession or through bilateral negotiations. Thus, there are two ways of
    awarding concession – direct award and competitive bidding. which was adopted

    According to him,the government don’t have to spend funds on the establishment of ports,roads,and other infrastructures that can be concessioned.The government should concentrate on the provision of good education,health care, defence, employment and housing for its citizenry. The Gov. is right.

    While don’t we speak on issues based on merits and do away with centiments, don’t you think the Gov. has the right to criticise certain policies of govt. constructively. stop being naive with the issue of popularity and his intrest in politics and understand concession contract as above and the celebrate his constructive comment.

  15. willieooo

    what’s your business in politics, Sanusi. you are suppose to be a manker

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