• Privacy Policy
  • Terms
  • About us
  • Contact Us
Friday, March 24, 2023
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

ICRC reiterates need for viable projects through PPP

ICRC

The Matters Press by The Matters Press
June 2, 2022
Reading Time: 3 mins read
0
Nigeria moves to review ICRC Act

The Infrastructure Concession Regulatory Commission (ICRC) has reiterated the need for viable and bankable projects that will be delivered through Public Private Partnership(PPP), especially in the critical sectors.

RELATED POSTS

AfDB, BCI promote women’s access to finance in Africa with $485,000

Cooking gas price increased by 24.05% in one year – NBS

Nigeria inaugurates Committee on African Growth and Opportunity Act

The Acting Director-General, ICRC, Mr Micheal Ohiani, reiterated this at the Public Private Partnership Units Consultative Forum(3PCUF) for Quarter 2, 2022, held in Abuja on Thursday.

The meeting was hosted and sponsored by the Nigerian Ports Authority (NPA).

Ohiani said the government had given the ICRC and Ministries Departments and Agencies (MDAs) the task to deliver more than 80 per cent of all infrastructure projects through PPP.

He said the task was in line with the 2021-2025 Mid Term Expenditure Framework of the National Development Plan (NDP).

“Although we all have committed to this, it is now more pertinent to identify and push forward the projects which will offer better value for money to the economy and the citizens through PPP.”

Ohiani said the ICRC had continued to record successes in the issuance of Outline Business Case(OBC) and Full Business Case(FBC) Compliance Certificates on some important projects.

The acting director-general said that the commission had issued a total number of 127 OBC and 50 FBC Compliance Certificates for some projects.

He said some of these projects include the insurance of FBC compliance certificate to the Federal Ministry of Transportation through the Nigerian Railway Corporation for the Secure Ticketing Solution for the Lagos -Ibadan Standard Train service and the Warri-Itakpe Standard Train service.

ALSO READ  Trump Says US Has 'passed the peak' of Coronavirus Outbreak

“The NNPC through the NNPC Medical Services Limited (NMSL) has commenced PPP projects to develop five multi specialties hospitals in five locations which include, Maiduguri, Port Harcourt, Lagos, Kaduna and Abuja.

” It also proposes to establish an Intravenous Fluid Plant in Kano through PPP methodology. ”

“The Federal Ministry of Health through the Port Health Department has received an OBC compliance certificate for the decontamination and fumigation project for vessels arriving all seaports in Nigeria.

“The Federal Ministry of Industry, Trade & Investment (FMITI) is going digital with an OBC compliance certificate for the Digital Industry Trade and Investment Platform”.

Ohiani added that the Federal Capital Territory had received an OBC compliance certificate for a project to maximise revenue from water bills in the FCT through the introduction of state-of-the-art water meters.

He said the Nigeria Police Force(NPF) had received OBC compliance certtificates to redevelop dilapidated properties and barracks across the country, which include properties in Ikeja, Falomo and Tjeh in Lagos, as well as Guzape in Abuja.

The acting director-general added that an OBC compliance certificate was issued the NPF to revive its almost comatose airwing facilities to deliver better services through PPP.

ALSO READ  Nigeria moves to review ICRC Act

Ohiani said the Federal Ministry of Health/UCH Ibadan had received an OBC compliance certificate to renovate and upgrade the School of Nursing students’ hostel in the hospital.

“There are currently 77 PPP projects at implementation (post-contract) stage and 194 projects at development and procurement (pre-contract) stages. ”

He said the commission was also in the process of publishing the 2022 Pipeline of Eligible PPP Projects in line with the ICRC Act.

The Managing Director, NPA, Mr Mohammed Bello-Koko in his remarks, said the 3PUCF encouraged the showcasing of Nigeria’s PPPs.

Bello-Koko, represented by the NPA General Manager on PPP, Mrs Ugo Madubike, said the forum was an avenue for MDA’s to share experiences, rub minds on their achievements , and challenges relating to PPP procurements in Nigeria.

He said the global infrastructure gap had caused the government to turn to alternative infrastructure investment strategies, including PPPs, as a way to boost productivity.

Bello-Koko said in doing so, the government could leverage risk transfer to the private sector with a view of addressing infrastructure deficits caused by expanding economies and population growth.

He said the NPA had recorded improvements in operational efficiency and customer satisfaction with no fewer than 26 PPP concessions and other joint venture arrangements.

“The impact of of PPP can be seen in the following areas, more efficient port services, upsurge in cargo throughput, reduction in cargo dwell time in the ports, and improved vessel turn-around time.”

ALSO READ  Naira, fuel scarcity takes shine off 44th Kaduna International Trade Fair

” Other impacts are improved infrastructure through rehabilitation, updating and brownfield development; response time to dredging and hydrographic survey, as well as correct defects to navigational aids has reduced.”

The NPA boss called on the government to make clear demarcations on the roles and functions of MDA’s to ensure ease of doing business.

He said there was a need to heighten the advocacy level in the areas of capacity building, discourage political interference, and clarify on ambiguities in PPP.

“Above all there is a need to encourage synergy between the public and private sectors,” he said.

Dr Folashade Yemi- Esan, Head of the Civil Sevice of the Federation, commended the ICRC for the work they were doing in the area of PPP.

Yemi-Esan, represented by Mrs Agalasi Ehigie, Director, Infrastructure Management, OHCSF, said she hoped Nigeria moved forward in getting the infrastructure the country required.

” We pray that the projects get actualised, so the purpose for which these projects are undertaken will be fulfilled, so the government will be able to serve the citizens in the way it is supposed to,” she said

The World Bank’s PPP Knowledge Lab defines a PPP as “a long-term contract between a private party and a government entity, for providing a public asset or service, in which the private party bears significant risk and management responsibility, and remuneration is linked to performance.”

Tags: ICRC
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Traditional female weavers yearn to boost earnings
Economy/Technology

AfDB, BCI promote women’s access to finance in Africa with $485,000

March 24, 2023
SON alerts on second hand gas cylinders
Economy/Technology

Cooking gas price increased by 24.05% in one year – NBS

March 24, 2023
Economy/Technology

Nigeria inaugurates Committee on African Growth and Opportunity Act

March 24, 2023
Nigeria urged to create enabling space for Fintech operators
Economy/Technology

CBN debunks viral news suspending fintech companies’ accounts

March 24, 2023
Reliable data critical in eradicating child labour- NBS boss
Agriculture

Food prices continue to rise in February- NBS

March 24, 2023
Consumer commission, CBN, EFCC investigate violations in money lending
Economy/Technology

CBN confirms evacuation of banknotes, directs banks to open for weekend operations

March 24, 2023
Next Post
Buhari returns from OIC summit after laying cards on table

Buhari urges Spanish investors to take advantage of 200m consumer market

Global energy demand to increase by 352 mboe/d in 2045

Nigeria advises Africa on renewable energy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

Africa needs groundbreaking investments

Africa needs groundbreaking investments

June 25, 2019
South Africa in load shedding to manage dip in power

Kyari advocates justice for Africa in Energy transition

October 23, 2021
China’s commerce ministry to promote services trade

Trade: China Shandong encourages Nigerian farmers, enterprises with Expo

November 5, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • AfDB, BCI promote women’s access to finance in Africa with $485,000
  • Cooking gas price increased by 24.05% in one year – NBS
  • Nigeria inaugurates Committee on African Growth and Opportunity Act

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2022 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2022 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?