ICRC congratulates Tinubu, Says his victory demonstrates patriotism
By Matthew Denis
The Management and Staff of the Infrastructure Concession Regulatory Commission (ICRC) has heartily congratulate H.E. Sen. Bola Ahmed Tinubu, GCFR and H.E. Kashim Shettima, GCON on their inauguration as 7th democratically elected President and Vice President respectively, of the Federal Republic of Nigeria.
This is contained in a statement signed by the Director General of the agency, A. Michael Ohiani and made available to Newsmen on Tuesday
the statement reads ” Your victory at the polls demonstrates your determination to take Nigeria to greater heights; which is a victory for democracy, for Nigeria and for the continuation of infrastructure development in Nigeria.
“Mr President, going by your antecedents as Former Governor of Lagos State, we recall how you revolutionised the infrastructure stock in the state; conceptualised the Lekki Free Trade Zone which now showcases the 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.
“It is now evident that in view of the need to upscale the national infrastructure stock and bridge the wide gap in the midst of dwindling government revenue, Public Private Partnerships (PPP) have become the globally tested and accepted way to go.
“From the inception of ICRC in 2010 to date, following our regulatory guidance in line with extant rules and subsequent issuance of Full Business Case (FBC) compliance certificates, a total of 103 PPP projects have been approved by the Federal Executive Council (FEC). These projects will bring in private capital investment of almost NGN11 Trillion (approximately USD24 Billion).
“Out of the 103 projects, 94 approvals worth almost NGN9 Trillion (about USD19.5 Billion) were granted in the last 8 years under the administration of President Muhammadu Buhari, GCFR.
“In line with the ICRC Act, 2005; the Commission published in 2022 a list of 53 eligible PPP projects worth USD 23 billion in the pipelines of projects, sequel to their certification as both viable and bankable to be undertaken using PPPs. In addition, the Commission has issued Outline Business Case (OBC) compliance certificates for 174 projects to proceed for procurement. Many of these projects are at different stages of procurement. These projects cut across various sectors including but not limited to transportation, health, education, aviation, agriculture, water.
According to the statement some of the notable projects approved in the last 8 years include the development of Hydroelectric power from existing Small and Medium dams across the Country at Bakolori Dam (Zamfara State), Ikere Gorge Dam (Oyo state), Omi – Kampe Dam (Kogi state) and Zobe Dam and Jibiya Dams (Katsina State). These are valued at over NGN 1,5 Billion. Others include the Operation and Management Concession of the 700 MW Zungeru Hydroelectric Power Plant at NGN552 Billion; the 360 MW Gurara 2 Multipurpose Dam Project at NGN 516.6 Billion; the 40 MW Kashimbila HydroPower Dam at (HPP) Project at NGN7.68 Billion.
“In the Health sector, the Warehouse-in-a-box projects were approved for Abuja and Lagos among others. While in the Agriculture sector, FEC approved the Concession and Leasing of 19 Grain Storage Facilities at NGN15.1Billion.
“In the Transportation sector, the following were approved the Abuja-Baro-Itakpe-AjaokutaWarri Railway Line (269.12km) with branch and extension lines to Jakura-Lokoja (41km) and Agbarho-Warri (5km) at NGN 3.2 Billion; Design, Development, Deployment and Management of a Secure Automated Fare Collection (AFC) Solution for the Nigerian Railway Corporation (NRC) Rail Network at NGN900 Million; Development of Port Harcourt Railway Industrial Park, Rivers State equipped with rolling stock assembly, Oil and Gas materials supply Industrial Park, Textile Industrial Park as well as Light Industry Park for Fast Moving Commodities and Goods at NGN133 Billion; Development of Bonny Deep Sea Port at NGN253 Billion; Ibom Deep Sea Port Project in Akwa Ibom State. NGN 927.5 Billion; Onitsha River Port project at NGN 3.9Billion; The Development of Deep-Sea Port in Badagry, Lagos at NGN1.28 Trillion; The Construction and Maintenance of 12 corridors under a highway development and management initiative (HDMI) as follows:
“Route 1: Benin- Asaba 125 km road, Route 2: Abuja – lokoja 195km road, Route 4: Onitsha – Owerri – Aba 161.2 km road, Route 5: Shagamu – Benin 258km road, Route 6: Abuja-Keffi-Akwanga 175.9km road, Route 7A: Kano – Shuari 100km road, Route 9: Enugu – Port Harcourt 200km road, Route 11: Lagos – Ota – Abeokuta 80km road and Route 12: Lagos – Badagry – Seme Border 79km road. All the routes will be constructed at a total cost of NGN1.57 Trillion). Total – 1,374km road. Concession Period: 25 – 27 years.”
it further revealed that in the Aviation sector the Development of a Maintenance, Repairs and Overhaul (MRO) Facility at NGN690 Million; Abuja and Kano International Airport Terminal NGN47.6 Billion.
“The above demonstrate the effectiveness of PPPs in contributing private sector investment to infrastructure development, thereby complementing government’s efforts in bridging the gap.
“We are convinced that under your administration, PPPs will be deployed more to enable the country improve our infrastructure situation, with many more projects coming on stream. The Commission is committed to playing its role in the necessary pre and post contract regulatory guidance at the federal level, as well as work with the sub-national bodies to lift our country’s infrastructure to globally accepted levels.”
