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PPPs attract $8.5 bn into Nigerian economy in 10 years

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The Management  of the Infrastructure Concession Regulatory Commission (ICRC), says it has in the last 10 years shored up the Nigerian economy with over 8.5 billion dollars generated from Public Private Partnerships (PPPs).

The Director-General of ICRC, Mr Chidi Izuwah disclosed this on Thursday in Abuja when he received a delegation of the National Hajj Commission of Nigeria (NAHCON) led by its Chairman, Mr Kunle Hassan.

The Lagos-Ibadan Railway Project is a $1.53 billion contract was awarded in 2012 to the China Civil Engineering Construction Corporation for construction of the Lagos–Ibadan segment (156 km) of the standard gauge railway by 2016.

Izuwah, while reeling out the commission’s achievements, said that as at Sept. 30, the ICRC had issued 88 Outline Business Case compliance certificates and 39 Full Business Case compliance certificates.

He said that 152 PPP projects were at different stages of pre-contract regulation, while 73 PPP projects were also at different stages of post-contract regulation.

He said that the commission was working in collaboration with the Office of the Head of Civil Service of the Federation to establish PPP units in Ministries, Departments and Agencies (MDAs).

He said that this was to facilitate well-thought-out infrastructure service delivery through well prepared and viable PPP projects.

He disclosed that the feat had brought about 60 MDAs inaugurating their PPP units.

On addressing PPP opportunities in NAHCON, Izuwah said it could upgrade and renovate pilgrims’ camps and make them comfortable and conducive.

He said the commission could also use Information and Communication Technology (ICT) to enhance the operations of Hajj and Umra operators and pilgrims. (NAN)

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