Uche Usim, Abuja
Director–General and Chief Executive Officer of the Infrastructure Concession Regulatory Commission (ICRC), Mr Chidi Izuwah, on Tuesday described Public Private Partnerships (PPPs) as the best approach to addressing Nigeria’s infrastructure nightmare, adding that 69 PPP projects were currently operational in the country.
Speaking at a press briefing to announce the 2019 Joint Nigeria PPP Network (NPPPN) and PPP Units Consultative Forum (3PUCF), slated for Thursday in Abuja, Izuwah said PPPs have substantial private sector involvement which not only relieves the government of the huge capital burden required in project execution, but ensures operation efficiency is reached quicker than when undertaken solely as an in-house effort.
He said efforts were on to have more PPP projects onboard in the urgent task of creating a infrastructure-sufficient Nigeria. He noted that the NPPPN and 3PUCF event, which is being organised by ICRC, Nigeria Governors Forum and Head of Civil Service of the Federation will be sponsored by Afreximbank and PAC Capital.
Izuwah said: “A lot is happening in the PPP space in Nigeria. We’ve 69 of them so far but our deficit in infrastructure and number of PPPs is still high.
“That is why we’re putting together this event. Let people, especially heads of PPP units in federal MDAs, come and learn how to develop bankable projects that will attract investors who will want to go into PPPs. That was what 3PUCF is designed to achieve.
The theme is *Accelerating Bankable PPP Projects Development in Nigeria- The Afreximbank Project Preparation Facility (APPF) Meeting*.
“There are lots of funds in the hands of investors who are looking for bankable projects. It’s not for charity.
“PPPs take time to put together. It’s a contract that is painstakingly drafted and executed with agreed terms of reference of all parties involved. There are so many of the PPP projects happening in Nigeria.