FG Launches Audit to Access Public-Private Partnerships Performance

The Infrastructure Concession Regulatory Commission (ICRC) has initiated an audit process to assess the performance of all Public-Private Partnership (PPP) projects across Nigeria.

This initiative was announced on Wednesday, September 18,2024, in Abuja, with the aim of ensuring compliance with statutory insurance requirements outlined in the ICRC Establishment Act of 2005.

During a recent courtesy visit to the Minister of Interior, Olubunmi Tunji-Ojo, ICRC Director General Dr. Jobson Ewalefoh shared details about this comprehensive audit. He highlighted the importance of evaluating past PPP agreements not to terminate them, but to optimize their performance for the benefit of the nation.

Ewalefoh emphasized the necessity of enforcing insurance policies for government assets involved in PPPs. He stated that all national assets, whether hard or soft infrastructure, must be insured as required by law, and he indicated that a directive on this matter would be forthcoming.

The DG also reassured the Minister of ICRC’s commitment to training PPP desk officers in various Ministries, Departments, and Agencies (MDAs), an initiative already underway through the commission’s institute. He encouraged the ministry to continue embracing PPP projects and seek clarifications when needed.

During the visit, Dr. Ewalefoh presented the PPP Icon award to Minister Tunji-Ojo, acknowledging his efforts in promoting PPPs to address critical infrastructure needs. He noted that the minister had presented the highest number of PPP projects for approval to the Federal Executive Council in the past year, underscoring his proactive approach.

The Minister praised Dr. Ewalefoh’s appointment as DG of ICRC, viewing it as a strong signal from the government to diversify the economy and empower the private sector. He expressed confidence in the director’s qualifications and experience to lead the commission effectively.

Tunji-Ojo further outlined plans to leverage PPPs strategically to enhance the self-reliance of key agencies within the ministry, aiming to reduce their dependence on the government’s budget. This reflects a broader commitment to improving efficiency and generating revenue through innovative partnership models.