Minister of Works and Housing, Babatunde Fashola has demanded audit of assets of the federal government which are on concession agreements.

He made this call at a public hearing organised by the House of Representatives committee on privatisation and commercialisation.

Over the years, the federal government has concessioned some public assets to drive optimal performance and boost revenue.

A concession involves an agreement between the public and private sector, in which a government-owned asset is maintained by a private investor for a specified period of time.

Speaking at the hearing with specific reference to highway concessions, Fashola said the arrangement has not yielded the desired results.