PPP Projects: FG Approves N3.77 Trillion In 11yrs – ICRC

The federal government through the Infrastructure Concession Regulatory Commission (ICRC) has approved Public Partnership Projects (PPP) worth over N3.77 trillion from 2010 to 2021.

Acting Director General of the (ICRC), Mr. Michael Ohiani, revealed this in Abuja at the Africa Public Private Partnership Network (AP3N) investment summit tagged “Financing Africa’s infrastructure through public private sector partnership.”

Explaining the activities of the commission, he said “Between 2010 (following the inauguration of our governing board) and 2021, under the regulatory guidance of the ICRC, the Nigerian government has approved PPP projects worth more than USD 9 billion.

Also Read: FG Raised N1.84trn Via Bond To Bridge 2022 Budget Deficit In H1, 2022

He added that “As at May 2022, there are 77 post-contract PPP projects under implementation at the ICRC Projects Disclosure Portal, which is the first disclosure portal in the world, established in collaboration with the World Bank. Also, there are 197 pre-contract projects at different phases of project development and procurement at the ICRC website”.

However, he noted that ICRC intends to gazette a pipeline of 53 eligible and bankable PPP projects, worth about $22 billion, soon.