Politics
THE Infrastructure Concession Regulatory Commission (ICRC) on Monday congratulated President Bola Tinubu and Vice-President Kashim Shettima on their inauguration.
This is contained in a statement signed by its Director-General, Mr Micheal Ohiani.
“Your victory at the polls demonstrates your determination to take Nigeria to greater heights; it is a victory for democracy for Nigeria and for the continuation of infrastructure development in Nigeria.
“Mr President, going by your antecedents as governor of Lagos State, we recall how you revolutionised the infrastructure stock in the state.
“We also recall how you conceptualised the Lekki Free Trade Zone which now showcases Lekki Deep Sea Port, the Dangote Refinery and many other world-class infrastructure facilities.
“We are confident that the infrastructure development fortunes of Nigeria will be further transformed in your administration,’’ Ohiani stated.
According to him, given the need to upscale the national infrastructure stock and bridge the wide gap in the midst of dwindling government revenue, Public-Private Partnerships (PPPs) have become the globally-tested and accepted way to go.
The director-general stated that since the commission’s inception in 2010 to date, a total of 103 PPP projects had been approved by the Federal Executive Council (FEC).
He added that the approvals were given following the issuance of Full Business Case certificates of compliance by the commission.
“These projects will bring in private capital investment of almost N11 trillion (approximately 24 billion dollars).
“Out of the 103 projects, 94 approvals worth almost N9 trillion (about 19.5 billion dollars) were granted in the last eight years under the administration of former President Muhammadu Buhari.
“In line with the ICRC Act 2005, the commission published a list of 53 eligible PPP projects worth 23 billion dollars in the pipelines of projects in 2022.
“This was sequel to their certification as both viable and bankable projects to be undertaken under PPPs,’’ he stated.
Ohiani also stated that the commission had issued Outline Business Case (OBC) certificates of compliance for 174 projects to proceed with procurement, adding that many of the projects were at different stages of procurement.
He added that the projects cut across transportation, health, education, aviation, agriculture and water resources.
Ohiani stated that some of the notable projects approved by FEC in the last eight years in the power sector included the development of hydroelectric power plants from existing small and medium dams.
“They include Bakolori Dam (Zamfara), Ikere Gorge Dam (Oyo State), Omi-Kampe Dam (Kogi) and Zobe and Jibiya Dams (Katsina State). These are valued at more than N1.5 billion.
“Others are the Operation and Management concession of the 700mw Zungeru Hydroelectric Power Plant at N552 billion and the 360mw Gurara 2 Multipurpose Dam Project at N516.6 billion.
“Included also is the 40mw Kashimbila Hydropower Dam project at N7.68 billion,’’ he stated.
Ohiani added that in the health sector, Warehouse in a Box projects were approved for Abuja and Lagos.
He stated that in the agriculture sector, FEC approved the concession and leasing of 19 grain storage facilities at N15.1 billion.
In the transportation sector, the Abuja-Baro-Itakpe-Ajaokuta-Warri railway line (269.12km) with branch and extension lines to Jakura-Lokoja (41km) and Agbarho-Warri (5km) worth N3.2 billion were approved.
He listed others as the design, development, deployment and management of a secure Automated Fare Collection solution for the Nigerian Railway Corporation Rail Network at N900 million.
“Others are the development of Port Harcourt Railway Industrial Park in Rivers at a cost of N133 billion; development of Bonny Deep Sea Port at N253 billion, and Ibom Deep Sea Port project in Akwa Ibom at N927.5 billion.
“Development of deep sea port in Badagry, Lagos State at a cost of N1.28 trillion and Onitsha River Port project at a cost N 3.9 billion.
“The construction and maintenance of 12 corridors under a highway development and management initiative, totalling 1,374km for a concession period of 25 years to 27 years; all the routes will be constructed at N1.57 trillion,’’ he stated.
In the aviation sector, approval was given for the development of a Maintenance, Repairs and Overhaul Facility at N690 million and Abuja and Kano international airport terminals concessions given at N47.6 billion, he stated.
“We are convinced that under your administration, PPPs will be deployed more to enable the country to improve infrastructure situation with many more projects coming on stream,’’ he stated.
Ohiani assured that the commission would also work with sub-national bodies to lift Nigeria’s infrastructure to globally-accepted levels. (NAN)
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Tags: Dangote refinery Ikere Gorge Dam Mr Micheal Ohiani. Vice-President Kashim Shettima
