The Management of Infrastructure Concession Regulatory Commission has appealed to the new President, Bola Ahmed Tinubu, to key into the Federal Government approved Public Private partnership as a penesea for economic growth.
According to The Sun, the Director General ICRC, J. A. Michael Ohiani, made the appeal on Monday in Abuja shortly after the new President was sworn-in to office.
Ohiani, who also used the occasion to congratulate the new President onbehalf of the entire staff of ICRC, reminded that from the inception of ICRC in 2010 to date, following the Nations regulatory guidance in line with extant rules and subsequent issuance of Full Business Case compliance certificates, a total of 103 PPP projects have been approved by the Federal Executive Council. These projects he said would bring in private capital investment of almost NGN11 Trillion (approximately USD24 Billion).
Ohiani, said, “Out of the 103 projects, 94 approvals worth almost NGN9 Trillion (about USD19.5 Billion) were granted in the last 8 years under the administration of President Muhammadu Buhari, GCFR.
“And in line with the ICRC Act, 2005; the Commission published in 2022 a list of 53 eligible PPP projects worth USD 23 billion in the pipelines of projects, sequel to their certification as both viable and bankable to be undertaken using PPPs. In addition, the Commission has issued Outline Business Case (OBC) compliance certificates for 174 projects to proceed for procurement.
“Some of the notable projects approved in the last 8 years include the development of Hydroelectric power from existing Small and Medium dams across the Country at Bakolori Dam (Zamfara State), Ikere Gorge Dam (Oyo state), Omi – Kampe Dam (Kogi state) and Zobe Dam and Jibiya Dams (Katsina State). These are valued at over NGN 1,5 Billion. Others include the Operation and Management Concession of the 700 MW Zungeru Hydroelectric Power Plant at NGN552 Billion; the 360 MW Gurara 2 Multipurpose Dam Project at NGN 516.6 Billion; the 40 MW Kashimbila HydroPower Dam at (HPP) Project at NGN7.68 Billion.
“in the Health sector, the Warehouse-in-a-box projects were approved for Abuja and Lagos among others.
“In the Agriculture sector, FEC approved the Concession and Leasing of 19 Grain Storage Facilities at NGN15.1Billion.
“In the Transportation sector, the following were approved including, the Abuja-Baro-Itakpe-Ajaokuta Warri Railway Line (269.12km) with branch and extension lines to Jakura-Lokoja (41km) and Agbarho-Warri (5km) at NGN 3.2 Billion; Design, Development, Deployment and Management of a Secure Automated Fare Collection (AFC) Solution for the Nigerian Railway Corporation (NRC) Rail Network at NGN900 Million”.
Other approved PPP projects by FEC are for the Development of Port Harcourt Railway Industrial Park, Rivers State equipped with rolling stock assembly, Oil and Gas materials supply Industrial Park, Textile Industrial Park as well as Light Industry Park for Fast Moving Commodities and Goods at NGN133 Billion; Development of Bonny Deep Sea Port at NGN253 Billion; Ibom Deep Sea Port Project in Akwa Ibom State. NGN 927.5 Billion; Onitsha River Port project at NGN 3.9Billion; The Development of Deep-Sea Port in Badagry, Lagos at NGN1.28 Trillion; The Construction and Maintenance of 12 corridors under a highway development and management initiative.
These railway Route are as follows, 1: Benin- Asaba 125 km road, Route 2: Abuja – lokoja 195km road, Route 4: Onitsha – Owerri – Aba 161.2 km road, Route 5: Shagamu – Benin 258km road, Route 6: Abuja-Keffi-Akwanga 175.9km road, Route 7A: Kano – Shuari 100km road, Route 9: Enugu – Port Harcourt 200km road, Route 11: Lagos – Ota – Abeokuta 80km road and Route 12: Lagos – Badagry – Seme Border 79km road. All the routes will be constructed at a total cost of NGN1.57 Trillion). Total – 1,374km road. Concession Period: 25 – 27 years.
In the Aviation sector, he also revealed to the new administration that the Development of a Maintenance, Repairs and Overhaul Facility at NGN690 Million; Abuja and Kano International Airport Terminal NGN47.6 Billion.
The DG, notified the new president that the above demonstrate the effectiveness of PPPs in contributing private sector investment to infrastructure development, thereby complementing government’s efforts in bridging the gap.
“We are convinced that under your administration, PPPs will be deployed more to enable the country improve our infrastructure situation, with many more projects coming on stream. The Commission is committed to playing its role in the necessary pre and post contract regulatory guidance at the federal level, as well as work with the sub-national bodies to lift our country’s infrastructure to globally accepted levels.
“Going by your antecedents as governor of Lagos State, we recall how you revolutionized the infrastructure stock in the state; conceptualized the Lekki Free Trade Zone which now showcases the Lekki Deep Sea Port, the Dangote Refinery and many other world-class infrastructure facilities. We are confident that the infrastructure development fortunes of Nigeria will be further transformed in your administration.
“It is now evident that in view of the need to upscale the national infrastructure stock and bridge the wide gap in the midst of dwindling government revenue, Public Private Partnerships (PPP) have become the globally tested and accepted way to go.
“We are convinced that under your administration, PPPs will be deployed more to enable the country improve our infrastructure situation, with many more projects coming on stream. The Commission is committed to playing its role in the necessary pre and post contract regulatory guidance at the federal level, as well as work with the sub-national bodies to lift our country’s infrastructure to globally accepted levels,” Ohiani added.
