FG reiterates commitment to improving Nigeria’s infrastructure economy through PPP

The Federal Government says it remains committed to the success of Public-Private Partnership (PPP) projects to improve Nigeria’s infrastructure economy and national development.

Mr Michael Ohiani, Director-General, Infrastructure Concession Regulatory Commission (ICRC), said this at the second 2023 Public-Private Partnership Consultative Forum (3PUCF) Meeting in Abuja on Thursday.

The News Agency of Nigeria (NAN) reports that the meeting was hosted and sponsored by the Ministry of Finance Incorporated (MOFI).

MOFI is a corporation vested with the responsibility to manage all federal government investments and assets aimed at unlocking value from the assets managed to drive economic development.

Ohiani said since the inception of the ICRC in 2010, a total of 103 PPP projects had been approved by the Federal Executive Council (FEC).

He said the projects would bring in private capital investments of almost N11 trillion (approximately 24 billion dollars ) and projected revenue of over three trillion naira ( approximately 38 billion dollars) for the country.

Ohiani listed some projects which had received FEC approval since the last (3PUCF) Meeting held in April 2023 including the Lagos-Ibadan Rail E-Ticketing Concession and the Warri-Itakpe Rail E-Ticketing Concession.

He said others included the 40MW Kashimbilla Hydropower Project, the establishment of the Aviation Leasing Company Concession, and the expansion and development of Snake Island Multipurpose Sea Port.

“Others are on the street park and pay in the FCT, Concession of Mallam Aminu Kano International Airport, and the Nnamdi Azikiwe International Airport, Abuja, and the development of Senior Police Officer’s quarters at Ikeja, Lagos.

“Publishing and Marketing of Court Appeal (specialised) Law Report, NIWA Business Processes (E-NIWA), Electronic E-Call Up System at Onne Port and the 700 MW Zungeru Hydroelectric Power Plant. ”

Ohiani reiterated the commission’s commitment to continue to build PPP capacity across Ministries Departments and Agencies (MDAs) and the nation as a whole through the Nigeria Institute of Infrastructure and Public-Private Partnership.

The Chief Executive Officer of MOFI, Dr Armstrong Katang, said there was a need to optimise Federal Government-owned assets by providing visibility over what the government owned.

Katang said the partnership between ICRC and MOFI would enable MOFI to maximise value from federal government-owned assets managed by the ICRC.

“We need to work together to ensure the government’s interests are represented and effected correctly in every PPP transaction. That is why MOFI and the ICRC must work together. ”

He said the National Assets Register (NAR), which would be inaugurated soon, would capture all the assets and investments of the federal government in a single window.

According to him, the NAR is a tool that will enhance strategic oversight and management of the nation’s public wealth.

Katang said the benefits of the NAR included an information database, assets classification, debt management, and assets valuation.

He said the assets that would be captured in the registrar included corporate, financial, fixed, intangible, oil and gas, and solid minerals assets.

“I call on all stakeholders to ensure we have visibility over what we own to keep track and learn from concessions we have gone into and correct any mistakes made,” he said.

Dr Folashade Yemi-Esan, Head of the Civil Service of the Federation (HCSF) and Chairman of the meeting, said Nigeria needed to be at par with other countries regarding PPP projects and initiatives.

Yemi-Esan, represented by Mrs Agalasi Ehigie, Director, Infrastructure Management Department, Office of the HCSF, said this was necessary because PPP brought development to the nation.

“It is time to expand our horizon and see how we can put in our best in helping our country move forward because we know that PPP brings a lot of benefits.

“There are also challenges but as we go through the journey, we know we will get better by the day, ” she said.

NAN reports that the forum provides a platform for PPP departments in MDAs and stakeholders to share ideas, success stories, and challenges on their PPP projects to drive economic growth in Nigeria.

Source: News Agency of Nigeria