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HomeBusiness$8bn PPP projects approved in 8yrs – ICRC ADVERTISEMENT $8bn PPP proje
The federal government has approved Public Private Partnership (PPP) projects worth $8bn in eight years, the Director-General, Infrastructure Concession and Regulatory Commission (ICRC) Mr. Chidi Izuwah has said. 

Mr. Izuwah who gave the figures yesterday at the joint PPP network meeting in Abuja added that  the period of the approval was between 2010 and 2018. “Between  2010  and  2018,  under  the  regulatory  guidance  of  the  ICRC,  the  Nigerian Government  has  approved  PPP  projects  worth  almost  $8bn,” he said.

Mr. Izuwah said as at June 25 2019, there were 69  post-contract  PPP  projects  under  implementation  at the  ICRC  Projects  Disclosure  Portal.

The portal was established by the ICRC in collaboration with the World Bank. He said, “as  at  31st  October,  2019,  there  are  139  pre-contract  projects  at  Development  and Procurement  phases  at  the  ICRC  website.” He said as at the end  of  October,  the  Commission  has  granted  nine Outline  Business Case   and  nine Full  Business  Case  Compliance  Certificates  for  2019.

 This, he stated, brings  the  total  compliance  certificates  granted  since  inception  to  76  OBCs and  31  FBCs  certificates.

The  latest  of  these  certificates, according to him,  is  the  OBC  Compliance Certificate  for  the  22  Teaching  Hospitals  upgrade  and  the  FBC  Compliance Certificate  for  the  Automated  Ticketing  System  for  the  Nigerian Railway Commission. 

Speaking on the objectives of the conference, he said, it sought to identify as well as improve the bankability of selected PPP projects in Nigeria with a view to accessing project funding from African Export Import Bank. 

The Chairman, Senate Committee on Works Senator Adamu Aleiro, said the Senate would amend the ICRC Act to attract private sectors investment.

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