*As Nigerian govt approves PPP projects worth almost $9b in 11 years
WorldStage Newsonline– Infrastructure Concession Regulatory Commission (ICRC) has recommended Public-Private Partnership (PPP) to Nigeria as a dependable and sustainable funding option for increased accountability, accelerated infrastructure provision and faster implementation of projects.
Dr. Amanze Okere, Head, Special Projects & Acting Coordinator, NII3P (a PPP Training Institute of ICRC) said at the Nigeria Blue Economy Stakeholders Conference organised by Alfe City Institution at the BWC Hotel, Victoria Island, Lagos, from 15th – 17th February, 2022, that the Nigeria’s huge infrastructure deficit is an opportunity to partner on a win-win basis with the private sector in virtually all economic and social infrastructure spaces, especially as it offers creative financing of Nigeria’s infrastructure.
In his paper titled ‘The adequacy of the Infrastructure Concession Regulatory Commission current regime to provide the incentive fundamental to International Investment necessary for the Infrastructural development required for a Nigerian Blue Economy’, he said, “Project preparation and development is key and PPP also stands for Preparation Preparation Preparation.”
At the forum with the theme ‘Creating the pathway for a sustainable Nigerian Economy’, which was graced by the Minister of Information and Culture, Minister of State for Niger Delta Affairs, Nigerian Navy, Delta State Government, National Inland Waterways Authority (NIWA) among other strategic stakeholders, Okere said, “Nigeria is currently faced with huge infrastructural gap that has hindered its desire to exploit its rich natural and human resources to stimulate its development.”
While the African Development Bank Group (AfDB) estimated financing requirement to close Africa’s infrastructure deficit at USD 93 billion annually until 2030, the Debt Management Office of Nigeria, said capital investments of over $100 billion, excluding routine maintenance and operating costs, are required to close the yawning infrastructure gap.
According to Okere, “in spite of the country’s huge oil and gas, sunlight and hydro resources, Nigeria does not generate enough electricity to drive its development.”
He said the huge infrastructural gap presents a win-win opportunity through PPP- a contractual agreement between a public agency (federal, state or local) and a private sector entity.
“Through this agreement, the skills and assets of each sector (public and private) are shared in delivering a service or facility for the use of the general public. In addition to the sharing of resources, each party shares in the risks and rewards potential in the delivery of the service and/or facility,” he said.
The good news, Okere said is that ICPC since its set up by ICRC Act, 2005, has been helping the government with the execution of some landmark projects as the MDAs are able to enter into contracts or grant concessions to private party for the financing, construction, operation, and maintenance of any Federal Government infrastructure that is financially viable.
In fact, he said between 2010 and 2021, under the regulatory guidance of the ICRC, the Nigerian Government approved PPP projects worth almost USD9 billion.
“As at January 2022, there are 77 post-contract PPP projects under implementation at the ICRC Projects Disclosure Portal (www.ppp.icrc.gov.ng or www.icrc.gov.ng). The portal is the first disclosure portal in the world, established in collaboration with the World Bank,” he said.
“As at January 2022, there are 186 pre-contract projects at Development and Procurement phases at the ICRC website (www.icrc.gov.ng).
“As at January 2022 ICRC has issued 116 Outline Business Case Compliance Certificates to date
“As at January 2022 ICRC has issued 47 Full Business Case Compliance Certificates to date.”
He named the landmark PPPs that the nation had gained considerable experience from as the MMA2 Airport Concession, Garki Hospital Abuja, and Hydro Power Plants.
Okere also listed a total of 25 PPP accomplishments to include Lekki Deepwater Port Flag Off; FMWPH Rooftop Solar PPP; Warehouse in a Box Medical Stores; NIWA Onitsha River Port; Kiri Kiri Terminals I and II Modernization; Lilypond Terminal Conversion to Agro Processing and Export; Ibom Deepwater Port; Dadin Kowa Hydro Power Plant; Gurara Hydro 0 & M; AKK Pipeline; Farm Mechanization PPP; Development of Bonny Deep Water Port; Concession of 18 Agro – silo projects across the Country; and Transaction process for the Highway Development Management Initiative (HDMI) across the country.
Others are Presidential Initiative on Custom Modernization “E-Customs Project; Abuja – Kaduna railway ticketing PPP; The Naval Ship Dockyard, Lagos, Development of National Fire Data Repository Centre; Deployment of Police Specialised Services Automation project; Development of Port Harcourt Railway Industrial Park; Rehabilitation, Expansion and Operation of the Nigerian Correctional Service Shoe, Garment and Leather Factories; Development, deployment and management of Automated Customs Gateway Portal for Import Duty Exemption Certificate (IDEC) and Imported Vehicle identification Number Registration (VREG); Ekiti State and FGN (NAEC) Collaboration to use atomic energy to reduce Post Harvest Losses; Establishment of Multi-Specialist Hospitals (MSH) and Intravenous Fluid (IVF) Plants by NNPC Medical Services; and Rail line linking the South South Nigeria with the North East.
