24/01/2023

Lekki Port to contribute $361bn economic impact in 45 years – ICRC

ICRC added it is expected to contribute 169,000 direct and indirect jobs. by William Ukpe Nigeria’s Infrastructure Concession Regulatory Commission (ICRC) stated that the newly inaugurated Lekki Port is a Major success story for Public-Private Partnerships in Infrastructure Development in Nigeria and is expected to contribute over $361 billion in economic impact expected in 45 years. The ICRC disclosed this in a statement on Monday evening after President Muhammadu Buhari’s inauguration of the latest seaport in Nigeria. They […]
19/01/2023
HDMI: FEC approves 1,374km roads across 9 Corridors, to generate N11.54trn – ICRC

HDMI: FEC approves 1,374km roads across 9 Corridors, to generate N11.54trn – ICRC

PRESS RELEASE January 19, 2023 HDMI: FEC approves 1,374km roads across 9 Corridors, to generate N11.54trn – ICRC …Onitsha-Owerri-Aba, Abuja-Keffi-Akwanga, Lagos-Badagry-Seme Border highways, others approved   The Federal Executive Council on Wednesday, approved the construction and maintenance of nine road corridors under the Highway Development and Management Initiative (HDMI) under the regulatory guidance of the Infrastructure Concession Regulatory Commission (ICRC). The projects which will utilise the Public Private Partnership Model will generate over N11.54 trillion […]
19/01/2023

FG HOLDS BIDDERS’ CONFERENCE FOR AEROTROPOLIS, CARGO TERMINAL DEV’T

By Ezra Ukanwa, Abuja The Federal Government, FG, has held a bidders’ conference for aerotropolis and cargo terminal development in the country, in Abuja. The conference was in line with the criteria in the Public Private Partnership, PPP, procurement phase, and a fulfillment of the provision of the Infrastructure Concession Regulatory Commission, ICRC, Act and National Policy on Public-Private Partnership. The Minister of Aviation, Hadi Sirika, in a statement, obtained by our correspondent, on Monday, […]
23/12/2022
FEC approves 3 PPP projects for NIMASA, targets US$1.1bn revenue - ICRC

FEC approves 3 PPP projects for NIMASA, targets US$1.1bn revenue – ICRC

December 22, 2022 PRESS RELEASE FEC approves 3 PPP projects for NIMASA, targets US$1.1bn revenue – ICRC The Federal Executive Council (FEC) has approved three Public Private Partnership (PPP) Projects to be executed in the Nigerian Maritime Administration and Safety Agency (NIMASA), says the Infrastructure Concession Regulatory Commission (ICRC). The projects which are under the regulatory guidance of the ICRC, are projected to generate over US$1,110,384,387 to the Federal Government during the concession period. The […]
22/12/2022
FEC approves PPP redevelopment of Police DIG Quarters

FEC approves N386.75bn for power, works, transport ministries

21st December 2022 By Stephen Angbulu FEC approves N386.75bn for power, works, transport ministries …Approves 88bn for Borno, Jigawa power projects …Life assurance for Police officers gulp N13.32bn The Federal Executive Council on Wednesday approved a total of N386.75bn for various projects in the federal ministries of Power, Police Affairs, Environment, Works and Housing and Transportation. The various ministers revealed the respective memorandum approved by the council and the corresponding amounts earmarked for the projects […]
22/12/2022
FEC approves PPP redevelopment of Police DIG Quarters

FRCN secures FEC’s approval for key project

The Federal Radio Corporation of Nigeria, FRCN, is set to diversify its revenue sources and enhance the profitability of the organization. This follows the Federal Executive Council (FEC) approval in respect of the design, construction and financing of a mixed development project comprising residential houses, hotels, recreational facilities and office blocks for commercial purposes on six hectares of land in Ikeja, Lagos. The project will be handled under a Public Private Partnership (PPP) arrangement with […]
13/12/2022
FEC approves PPP redevelopment of Police DIG Quarters

FEC approves PPP redevelopment of Police DIG Quarters

The Federal Executive Council (FEC) last week, approved the redevelopment of the Nigeria Police’s Deputy Inspector General (DIG) Quarters in Maitama, Abuja under a Public Private Partnership Arrangement. The project which is under the regulatory guidance of the Infrastructure Concession Regulatory Commission (ICRC), will adopt the Design-Finance-Build-Lease and Transfer PPP model, with Cosgrove Investment Limited as the Concessionaire. According to the Full Business Case Certificate of Compliance (FBC) awarded to the Nigeria Police Force (NPF), […]
13/12/2022

FEC approves PPP redevelopment of Police DIG Quarters

The Federal Executive Council (FEC) last week, approved the redevelopment of the Nigeria Police’s Deputy Inspector General (DIG) Quarters in Maitama, Abuja under a Public Private Partnership Arrangement. The project which is under the regulatory guidance of the Infrastructure Concession Regulatory Commission (ICRC), will adopt the Design-Finance-Build-Lease and Transfer PPP model, with Cosgrove Investment Limited as the Concessionaire. According to the Full Business Case Certificate of Compliance (FBC) awarded to the Nigeria Police Force (NPF), […]
02/12/2022

FG records success in PPP in major sectors – ICRC boss

By Okeoghene Akubuike Michael Ohiani, Director-General, Infrastructure Concession Regulatory Commission (ICRC) says the Federal Government has recorded successes in Public Private Partnership (PPP) projects in major sectors of the economy. Ohiani said this at the Fourth Quarter 2022 PPP Units’ Consultative Forum (3PUCF) in Abuja on Thursday. The News Agency of Nigeria (NAN) reports that the fourth quarter forum was hosted by the Nigeria Communications Commission (NCC). Ohiani said the sectors, which had recorded milestones […]
02/12/2022

FG to earn N28 billion from satellite concession deal

by William Ukpe The Nigerian government has announced the concession of a Research and Development of Satellite Internet Broadband Project which would earn N28 billion over a 15-year period. This was disclosed by Manji Yarling, Acting Head, Media and Publicity, Infrastructure Concession Regulatory Commission (ICRC) in Abuja on Wednesday after the FEC approved the deal. The project will also boost Nigeria’s fight against insecurity. The ICRC noted that the project is owned by the National Space Research and […]
02/11/2022
FEC approves establishment of Planetarium, Museum to boost tourism, generate N30bn

FEC approves establishment of Planetarium, Museum to boost tourism, generate N30bn

PRESS RELEASE   November 2, 2022 FEC approves establishment of Planetarium, Museum to boost tourism, generate N30bn   The Federal Executive Council on Wednesday approved the establishment of a Planetarium and Museum at the National Space Research and Development Agency (NASRDA). The projects which will adopt an Equip, Operate and Maintain Public Private Partnership Model, followed regulatory guidance of the Infrastructure Concession Regulatory Commission (ICRC).  The project is designed to run for a concession period […]
30/09/2022
Director General, Infrastructure Concession Regulatory Commission (ICRC), Michael Ohiani

62nd Independence Anniversary Message from DG, ICRC, Michael Ohiani

62nd Independence Anniversary Message from DG, ICRC, Michael Ohiani September 30, 2022 The Management & Staff of the Infrastructure Concession Regulatory Commission (ICRC) heartily congratulate His Excellency, President Muhammadu Buhari (GCFR) and the good people of Nigeria on the historic occasion of our nation’s 62nd Independence Day Celebration. Your Excellency, on this special occasion, we restate your commitment to Public Private Partnership (PPP) methodology as a preferred procurement model for achieving Nigeria’s inclusive growth and […]
27/09/2022
FG to deploy PPP solution to boost excise, tax revenue - Receives OBC from ICRC

FG to deploy PPP solution to boost excise, tax revenue – Receives OBC from ICRC

PRESS RELEASE September 27, 2022 FG to deploy PPP solution to boost excise, tax revenue – Receives OBC from ICRC In its bid to mitigate the dwindling revenue and foster more non-oil revenue streams, the Federal Government is on the verge of deploying an Integrated Secure Track and Trace Solution to boost revenue earnings through excise and tax collection. This was made known when the Director General of the Infrastructure Concession Regulatory Commission (ICRC) Michael […]
26/09/2022
Nigeria Air: FG selects Ethiopian Airlines as preferred bidder

Nigeria Air: FG selects Ethiopian Airlines as preferred bidder

The Federal Government has selected Ethiopian Airlines (ET) Consortium as preferred bidder for Nigeria Air. The Minister of Aviation, Sen. Hadi Sirika made this known during a media briefing on Friday in Abuja. According to him, ET scored 89 per cent out of 100 as regards the technical bid and 15 out 20 as regards financial bid. Sirika explained that the Request for Proposal (RFP) under the Public-Private Partnership (PPP) Act, governed by Infrastructure Concession […]
23/09/2022
FG Approved N3.8trn Projects With Private Partners In 11 Years – ICRC

FG Approved N3.8trn Projects With Private Partners In 11 Years – ICRC

By Daily Trust The Infrastructure Concession Regulatory Commission (ICRC) has said over $9 billion (about N3.865 trillion) projects were approved by the federal government under the Public-Private-Partnership since 2010. The Director General of ICRC, Mike Ohiari, who made the disclosure during a visit by the management of Media Trust Group yesterday in Abuja, stated that the projects were approved due to its guidance and 72 of them are under its supervision. Ohiari said the commission […]
21/09/2022
Director General of ICRC, Michael Ohiani with Group Chief Executive Officer, Media Trust Group, Mounir Gwarzo

ICRC assisting states to take on infrastructure development through PPP – Ohiani

PRESS RELEASE September 21, 2022 ICRC assisting states to take on infrastructure development through PPP – Ohiani The Infrastructure Concession Regulatory Commission (ICRC) said that it is readily available to assist the states of the Federation including the Federal Capital Territory to take on viable infrastructure projects using Public Private Partnerships (PPP). Director General of the ICRC, Michael Ohiani disclosed this on Tuesday when he received a delegation of Media Trust Group, owners of Daily […]