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THE Federal Government has declared that all Public Private Partnership (PPP) agreements signed without adherence to the Infrastructure Concession Regulatory Commission (ICRC) Act and its guidelines as illegal.
The ICRC in a statement said that the directive was outlined in a circular issued by the Federal Ministry of Budget and Economic Planning as part of the “FGN 2025 Budget Call Circular.
“The circular mandates all Ministries, Departments, and Agencies (MDAs) to comply with the National Policy on PPP (N4P) and the ICRC Act of 2005 in their 2025 budget proposals concerning PPP arrangements.
“The government mandated all MDAs to ensure that they align with the provisions of the ICRC Establishment Act (2005) in the preparation and submission of their respective 2025 budget proposals as it relates to PPPs,’’ it said.
The circular emphasised that signing PPP-related Memoranda of Understanding (MoU), Memoranda of Association, or contract instruments without following the provisions of the ICRC Act constitutes a violation of the law.
The federal government further directed MDAs to ensure compliance with the ICRC guidelines and sought alignment with existing policies. For further details, MDAs were advised to contact the ICRC via compliance@icrc.gov.ng
“Consequently, any MDA interested in PPP or concession arrangements must act within the ambit of existing laws and policy listed above and ensure alignment with this guideline.
“For further information, please contact the Infrastructure Concession Regulatory Commission (compliance@icrc.gov.ng)”.
“Going by the above, all MDAs are compelled to adhere to the Act, Policy, and Regulation of the ICRC in undertaking any form of PPP arrangement,’’ it said. (NAN)
8th December, 2024.C.E
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