103 PPP projects to attract N11tr investment into economy-ICRC
The Infrastructure Concession Regulatory Commission (ICRC) has disclosed that 103 Public Private Partnership (PPP) projects approved by the federal government will attract N11 trillion private capital into the Nigerian economy.
The 103 projects are the total number of PPP projects the ICRC issued Full Business Case (FBC) compliance certificates from 2010 to date.
Out of the 103 projects, 94 approvals worth almost N9trillion (about USD19.5 billion) were granted in the last eight years under the administration of President Muhammadu Buhari.
The ICRC made this disclosure in its congratulatory message to President Bola Ahmed Tinubu signed by Barr. Michael Ohiani Director General Infrastructure Concession Regulatory Commission.
The Commission published in 2022 a list of 53 eligible PPP projects worth USD 23 billion in the pipelines of projects, sequel to their certification as both viable and bankable to be undertaken using PPPs.
In addition, the Commission has issued Outline Business Case (OBC) compliance certificates for 174 projects to proceed for procurement.
Many of these projects are at different stages of procurement. These projects cut across various sectors including transportation, health, education, aviation, agriculture, water.
Some of the notable projects approved in the last eight years include the development of Hydroelectric power from existing small and medium dams across the Country at Bakolori Dam (Zamfara State), Ikere Gorge Dam (Oyo state), Omi – Kampe Dam (Kogi state) and Zobe and Jibiya Dams (Katsina State). These projects are valued at over N1.5 billion.
Others include the Operation and Management Concession of the 700 MW Zungeru Hydroelectric Power Plant at N552 billion; the 360 MW Gurara 2 Multipurpose Dam Project at N516.6 billion; the 40 MW Kashimbila HydroPower Dam at (HPP) Project at N7.68 billion.
In the Health sector, the Warehouse-in-a-box projects were approved for Abuja and Lagos among others, while in the Agricultural sector, the Federal Executive Council (FEC) approved the Concession and Leasing of 19 Grain Storage Facilities at N15.1billion.
In the Transportation sector, the following were approved: the Abuja-Baro-Itakpe-Ajaokuta-Warri Railway Line (269.12km) with branch and extension lines to Jakura-Lokoja (41km) and Agbarho-Warri (5km) at N3.2 billion; Design, Development, Deployment and Management of a Secure Automated Fare Collection (AFC) Solution for the Nigerian Railway Corporation (NRC) Rail Network at N900million.
There is also the Development of Port Harcourt Railway Industrial Park, Rivers State equipped with rolling stock assembly; Oil and Gas materials supply Industrial Park, Textile Industrial Park as well as Light Industry Park for Fast Moving Commodities and Goods at N133billion; Development of Bonny Deep Sea Port at N253 Billion; Ibom Deep Sea Port Project in Akwa Ibom State. N927.5billion. The Onitsha River Port project will attract N3.9billion private investment; the Development of a Deep-Sea Port in Badagry, Lagos at N1.28trillion.
The Construction and Maintenance of 12 corridors under a highway development and management initiative (HDMI) has the following projects: Route 1: Benin- Asaba 125 km road, Route 2: Abuja – lokoja 195km road, Route 4: Onitsha – Owerri – Aba 161.2 km road, Route 5: Shagamu – Benin 258km road, Route 6: Abuja-Keffi-Akwanga 175.9km road, Route 7A: Kano – Shuari 100km road, Route 9: Enugu – Port Harcourt 200km road, Route 11: Lagos – Ota – Abeokuta 80km road and Route 12: Lagos – Badagry – Seme Border 79km road.
All the routes will be constructed at a total cost of N1.57trillion for 1,374km roads and a concession period of 25 to 27 years.
In the Aviation sector, the Development of a Maintenance, Repairs and Overhaul (MRO) Facility at N690million; Abuja and Kano International Airport Terminal N47.6billion.
Michael Ohiani said “the above demonstrate the effectiveness of PPPs in contributing private sector investment to infrastructure development, thereby complementing government’s efforts in bridging the gap”.
