26/09/2017

ICRC Launches PPP Contracts Disclosure Portal

By Obinna Chima In line with the federal government’s drive to ensure transparency in the public-private partnership (PPP) model it is deploying to finance critical infrastructure projects, the Infrastructure Concession Regulatory Commission (ICRC) at the weekend launched the first of its kind contract disclosure portal. The acting Director-General of the ICRC, Chidi Izuwah, in a presentation at the event that took place in Abuja, obtained by THISDAY, revealed that the World Bank and ICRC developed […]
25/09/2017

Osinbajo: Public-private partnership will address Nigeria’s infrastructural deficit  

Vice-President Yemi Osinbajo says public-private partnership, (PPP) is key to addressing the country’s infrastructural deficit. Osinbajo said this on Friday at the launch of World Bank and ICRC public-private partnership, (PPP)  web portal which is dedicated to the disclosure of all the PPP contracts information in the country. The vice-president, who was represented by Suleiman Hassan, minister for state power, works and housing, said Nigeria would be the first country to launch the PPP website […]
25/09/2017

How we’ll provide basic infrastructure across Nigeria – Osinbajo

Vice President Yemi Osinbajo last Friday in Abuja said federal government planned to use Public Private Partnership, PPP, to provide basic infrastructure to the people. Mr. Osinbajo said this at the launch of the PPP Disclosure Web Portal sponsored by World Bank and the Infrastructure Concession Regulatory Commission (ICRC). Represented by Suleiman Hassan, Minister of State, Power, Works and Housing, Mr. Osinbajo emphasised the role of the private sector in providing basic infrastructure in collaboration with government […]
25/09/2017

Government ready to tackle Nigeria’s infrastructure challenge, says Osinbajo

  ICRC targets N3.2trn Launches PPP disclosure web portal The Federal Government is committed to making fundamental changes that would facilitate rapid provision of infrastructure development, which has remained a huge challenge to the country’s economic growth. This is even as the Infrastructure Concession Regulatory Commission (ICRC) says it is targeting about N3.2 trillion to scale up infrastructure development in the country with the recent launch of the Public Private Partnership (PPP) disclosure web portal […]
20/09/2017

ICRC wants PPP officers cadre in civil service

By Racheal Ishaya The acting Director-General, Infrastructure Concession Regulatory Commission (ICRC), Mr Chidi Izuwah wants the Head of Civil Service to establish a Public-Private Partnership (PPP) Officers Cadre in Federal Government’s Ministries, Departments and  Agency (MDAs). Izuwah said this in Abuja at the Certified PPP Professional Training  for PPP officers in MDAs being organised by the World Bank. He said that the World Bank was spending a lot of money to boost the capacity of […]
20/09/2017

Filling Nigeria’s Infrastructure Gap

Obinna Chima and Nume Ekeghe write that Nigeria’s infrastructure deficit is a hindrance to sustainable economic growth but presents huge opportunities to investors Infrastructure financing plays critical role in promoting economic growth, improving standard of living, poverty reduction, enhancing productivity and in improving competitiveness. It also contributes to environmental sustainability. Clearly, Nigeria is currently faced with huge infrastructural gap that has hindered its desire to exploit its rich natural and human resources to stimulate its […]
20/09/2017

FG to launch ICRC PPP Contracts Disclosure Portal on September 22

The Federal Government in its drive to ensure transparency in the public-private partnership model it is deploying to finance critical infrastructure projects, is set to launch the first of its kind contract disclosure portal on Friday September 22nd, 2017. This will be performed by the Vice-President Prof. Yemi Osinbajo (SAN) who is also the Chairman of the National Council of Privatization for Nigeria. Acting Director-General for the Infrastructure Concession Regulatory Commission Engr. Chidi K.C Izuwah […]
20/09/2017

All legacy concession deals will be revisited – FG

The Federal government has disclosed that all legacy concession contract entered into with the private sector that have stalled, will be revisited and resolved. The Ag. Director General of the Infrastructure Concession Regulatory Commission (ICRC), Engineer Chidi Izuwa revealed this as a guest speaker,  at the 2017 conference of Finance correspondence Association of Nigeria  (FICAN), which held in Lagos at the weekend. The move follows in quick succession, the recent pronouncement by the  Vice President, […]
20/09/2017

ICRC Offers to Provide PPP Expertise for NNPC Depots

The Infrastructure Concession Regulatory Commission (ICRC) has offered to lend its expertise on Public Private Partnership (PPP) initiation, design and execution to the Nigerian National Petroleum Corporation (NNPC) to revive its petroleum depots across the country. The NNPC has up to 5000 kilometres of pipeline network, 21 petroleum products storage depots and nine liquefied petroleum gas (LPG) depots, but of these facilities have not functioned optimally. But speaking at the inaugural Nigerian International Pipeline Technology […]
18/09/2017

ICRC: $100bn Required for Nigeria’s Infrastructure Development

By Kunle Aderinokun, Obinna Chima and Nume Ekeghe The acting Director General, Infrastructure Concession Regulatory Commission (ICRC), Mr. Chidi Izuwah, has put the total amount of funds required to provide quality infrastructure in Nigeria over the next six years at about $100 billion. Izuwah estimated that while about $60 billion would be required for the oil and gas sector; about $20 billion to revamp the power sector;  $14 billion for road; and between  $8 and […]
18/09/2017

How Nigeria can attract capital for infrastructure — Experts

Oyetunji Abioye To attract the local and foreign private capital needed for infrastructure financing, economic and financial experts have advised the Federal Government to review its policies in order to achieve better business environment. The experts, who posited that the solution to inadequate infrastructure financing in the country was private capital funding, said efforts must be geared at bringing investment inflows. Owing to financial constraints facing the government, they said long-term funding that was independent […]
14/09/2017

AFC, ICRC, others address infrastructure financing at FICAN confab

As part of efforts to tackle challenges of  infrastructure financing in Nigeria, leading experts in the financial sector are expected to proffer solutions at the annual conference of the Finance Correspondents Association of Nigeria (FICAN) on Saturday, September 16, 2017, in Lagos. Experts lined up for the conference themed, “Financing Nigeria’s Infrastructure: Issues, Challenges, and Options,” include President/Chief Executive of the Africa Finance Corporation (AFC), Mr. Andrew Alli; Managing Directors/Chief Executive Officers of Heritage Bank […]
13/09/2017

Lack of capacity, major challenge of infrastructure in Nigeria- ICRC

Abuja –  Mr. Chidi Izuwah, the Acting Director-General, Infrastructure Regulatory Concession Commission (ICRC) on Monday said lack of capacity was a major challenge of infrastructure development in the country. Izuwah said that this during the Certified Public Private Partnership Professional training (C-P3 Professional) for civil servants organised by ICRC in collaboration with the World Bank in Abuja. He expressed optimism that the certification and training would equip the participants to be able to address the […]
08/09/2017

ICRC Urges Nigeria To Develop Bankable Projects To Attract Foreign Investors

Abuja –   Mr. Chidi Izuwah, Acting Director-General, Infrastructure Concession Regulatory Commission (ICRC), says Nigeria should draft infrastructure projects that are financially viable with high probability of success, to attract institutional lenders for financing. Izuwah said this on Thursday at the Third Quarter Public Private Partnership Consultative Forum (3PUCF) meeting in Abuja. 3PUCF is a forum designed to provide a platform for Heads of PPP Units in Federal MDAs for knowledge and experience sharing; ensuring […]
07/09/2017

135,000km road network in Nigeria un-tarred- ICRC

The Director-General, Infrastructure Concession Regulatory Commission (ICRC), Mr Chidi Izuwah, said on Wednesday that about 135,000 kilometres of road network in the country were un-tarred. Izuwah said this in Abuja at the 2017 Otis Anyaeji and Nigerian Society of Engineers Annual lecture. He spoke on the theme “Transportation Infrastructure as a Catalyst for Economic Diversification and Inclusive National Development”. “Nigeria has about 195,000 km road network out of which a proportion of about 32,000 km […]
30/08/2017

Executive order on accelerated PPP contracts underway – ICRC Boss

To fast track the process of procuring public private partnerships (PPPs) projects in Nigeria, the Infrastructure Concession and Regulatory Commission (ICRC) is preparing an executive order that will be sent to the president for assent. The long procurement process of PPP projects has come under intense criticism lately by stakeholders saying it’s a disincentive for business. The ICRC said the complaints were not lost on it thus it has began a process to shorten the […]