*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 yesterday’s launch of the Public Private Partnership (PPP)
disclosure web portal for transparency and accountability at the Banquet Hall
of the Presidential Villa, Abuja.
It is
similarly requesting the Federal government to increase its yearly allocations
to enable the commission give the best to Nigerians. Vice President Yemi
Osinbajo who spoke at the event, which also attracted stakeholders in the
sector, said the current administration would specifically explore and
implement schemes, especially PPP that will help to achieve the desired level
of infrastructure in the country.
Osinbajo
said the PPP disclosure initiative designed to enhance transparency and
accountability, was coming at a time that government was poised to attract
private investment and expertise as well as boost the country’s infrastructure
development.
“This
initiative is not only relevant but timely. I am totally in agreement with the
global trend that PPP is the way to go since the government cannot do it alone.
Given the huge capital layout required to address the massive infrastructure
deficit in our country, the private sector is expected to play a critical role
in providing basic infrastructure in collaboration with the Government under
PPP arrangements. I do appreciate that the challenges are daunting and enormous
but we are resolute in our determination to ensure we reap full benefits of
PPPs by creating the needed enabling environment for the schemes to flourish in
Nigeria.”
The Vice
President lamented that several intervention programmes were initiated in the
past to bridge the high infrastructure gap in the country without much success
due mainly to corruption, mismanagement and outright diversion of resources
meant for the provision of critical infrastructure to the citizens.
Osinbajo
however, noted that a firm PPP arrangement where the private sector provides
the finances would have taken care of the process.
The Acting
Director-General of ICRC, Chidi Izuwah, stated that the commission’s target of
N3.2 trillion also fall short of the total funds required to build a robust
infrastructural needs that would be a pride for the country in the comity of
nations.
According to
him: ‘’Our country is challenged by massive infrastructure deficit in housing,
roads, airport and in other areas and because the country is in the middle of
the world, with the right infrastructure, the nation would be the hub of
development in Africa.’’
The Country
Director, World Bank, Mr. Rachid Bennesssaoud said that the infrastructure
needs of Nigeria, far exceeds what her government could handle.
‘’The
private sector is critical to respond to the infrastructure gaps, the question
before us now is, how to develop more PPP projects and how to enhance
communications of success stories, the legal frame work also needs to be
strengthened while more needs to be done in the areas of transparency and
accountability.’’
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