FEC approved 103 PPP projects worth N10.8trn in 13 years – ICRC

The Federal Executive Council, FEC, has approved 103 Public Private Partnerships projects worth N10.8 trillion in 13 years,

Manji Yarling, Acting Head of the Media and Publicity Infrastructure Concession Regulatory Commission (ICRC), disclosed this on Friday in a statement when the South African High Commissioner to Nigeria, Tharmi Mseleku, led a team of officials on a courtesy visit to the Director General of the Commission, Mr Michael Ohiani in Abuja.

Ohiani, while responding to Mseleku, said Nigeria has heavily invested in private-driven initiatives in the past few years.

“Over the years, we now have 82 ongoing PPP projects that we are regulating.

“From 2010 to date, the Federal Executive Council (FEC) has approved 102 PPP projects worth N10.8 trillion to be invested in by the private sector.

“We have been able to achieve a lot in terms of using PPP to deliver on the country’s infrastructure needs,” he said.

The South African Government had sought the collaboration of the Nigerian Government on mutually beneficial infrastructure development through Public Private Partnerships (PPPs).

Mseleku said that although both Nigeria and South Africa were learning from each other in implementing PPPs, there was a need for both nations to rekindle their collaboration and take it to a greater height.

“We are here to get the information about the kind of infrastructure that is envisaged to be developed through PPPs because we can support both from the financing and technical point of view.

“We came to have a conversation to open the doors to rekindle the relationship. South Africa is open for business,” he said.