The Infrastructure Concession and Regulatory Commission (ICRC), in partnership with the World Bank is developing a disclosure framework on public private partnerships contracts.
The framework which would be ready in six months will ensure that all relevant information on PPP contracts in Nigeria are disclosed public to all Nigerians.
The Director-General, ICRC, Mr. Aminu Dikko, disclosed this at the ICRC contract disclosure forum hosted at the World Bank, Abuja.
Represented at the forum by Mr. Chidi Izuwah, the Executive Director, Support Services, ICRC, the DG said “the ICRC must lend support to the corruption fight of the government by making public some salient information on PPP contracts executed by MDAs on behalf of the federal government.”
Some of the basic information the framework he said seeks to be disclosed includes: “What is the special purpose vehicle structure? What is the debt and equity structure? Who is providing equity and who is providing debt? Things like internal rate of return and the obligations. What are the technical specifications on the project? By the time all the information is public, all of us can be a part if monitoring and enforcing the contract to be sure it is done to specification.”