From Uche Usim, Abuja
The Infrastructure Concession Regulatory Commission (ICRC), on Monday, said it was on the verge of gazetting a pipeline of 53 eligible and bankable Public Private Partnership (PPP) projects, worth about $22 billion
The Acting Director General of the Commission, Mr Michael Ohiani, made the disclosure at the 2022 Africa Public Private Partnership Network (AP3N) Investment summit held in Abuja.
According to him, as at May 2022, there are 77 post-contract PPP projects under implementation at the ICRC projects disclosure portal, which he described as the first in the world and was established in collaboration with the World Bank.
He revealed that between 2010 (following the inauguration of the Governing Board) and 2021, under the regulatory guidance of the ICRC, the Nigerian Government has approved PPP projects worth more than $9 billion.
He noted that the ICRC has issued 128 Outline Business Case Compliance Certificates to date. “These are certified bankable projects, to enable them to proceed to the procurement phase. ICRC has also issued 50 Full Business Case Compliance Certificates to date. These are projects to be submitted to our Federal Executive Council (Cabinet) preparatory to their Commercial and Financial Closures.
“The Nigeria Public-Private Partnership Network (NPPPN) was established in 2011 through collaboration between the ICRC, Lagos state PPP office, and the Nigerian Infrastructure Advisory Facility (NIAF) to create a platform for all States (sub-nationals) Heads of PPP units nationwide and meets quarterly, under the Chairmanship of the Nigeria Governors’ Forum. ICRC acts as the Secretariat
“The Public Private Partnership Units Consultative Forum (3PUCF) was established in 2013 as a forum designed to provide a platform for Heads of PPP Units in Federal MDAs for knowledge and experience sharing; ensuring symmetry of effort towards institutionalizing FGN PPP programme, provision of training and educational intervention among others, and meets quarterly’, under the Chairmanship of the Office of the Head of the Civil Service of the Federation. ICRC also acts as the Secretariat
“We established in 2019, a PPP Capacity Building arm known as the Nigeria Institute of Infrastructure and Public Private Partnership (NII3P), to focus on PPP training for MDAs some of which include the Basic, Intermediate and Advanced PPP Courses. Others include short Infrastructure Development Courses, the APMG – CP3P (Examination) course, and the Master of Business Administration (MBA) in PPP; in collaboration with the Malaysian University of Science and Technology”, he explained.
Ohiani explained that the key move in the 21st century was for governments to enhance the investment environment for national level investment for local and foreign investors, and look to innovative financing mechanisms that promote local capital markets, private sector risk, and rely on regulatory systems to balance investor and consumer requirements.
“With fiscal and budgetary funding constraints plaguing governments across the continent, the cold reality is that private participation in infrastructure is an economic necessity, rather than an optional financing solution, as hitherto considered. Partnership between the public and private sectors for the financing, design, build, maintenance of infrastructure and delivery of associated services is absolutely necessary for Africa governments to meet the need for modern and efficient infrastructure, and for reliable cost-effective delivery of public services”, he added.
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Earlier in his remarks, the Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, said that the theme: “Financing Africa’s infrastructure Through Public Private Partnership”, was not only timely, but very appropriate.
He maintained that the provision of economic infrastructure can expand the productive capacity of the economy by increasing the quantity and quality of such infrastructure, thereby accelerating the rate of economic growth and enhancing the pace of socio-economic development.
“The Public Private Partnerships (PPPs) have shown that if properly structured, would be an effective infrastructure financing and delivery tool. In Nigeria, proactively we have already begun this process as the Nigeria Governors’ Forum in collaboration with the ICRC has established the Nigeria Public Private Partnership Network to address the issues and bottlenecks towards infrastructural development of strategic sectors of the subnational economy by public private partnerships.
“We must note that Nigeria cannot generate the expected growth in a sector without commensurate or proportional increase in infrastructure stock of the nation. “Our citizens desire good medical treatment, good road network, constant power supply, conducive learning environment, safe and secured society, as well as sufficient food production and manufacturing”, he added.