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The Infrastructure Concession Regulatory Commission has begun an audit process to evaluate the performance of all Public-Private Partnership projects across the country.
It also said the process will ensure that all the projects are insured as statutorily stipulated in the Infrastructure Concession Regulatory Commission Establishment Act, 2005.
The ICRC Director General, Dr. Jobson Ewalefoh, disclosed this when he paid a courtesy visit to the Minister of Interior, Olubunmi Tunji-Ojo.
During the visit, the DG ICRC honoured the minister with the PPP Icon award, a statement signed by the Acting Head, Media, and Publicity, Ifeanyi Nwoko, said on Wednesday in Abuja.
Speaking in his welcome address, Ewalefoh announced that the commission has begun evaluating the performance of all Public-Private Partnership projects.
He also emphasized the enforcement of insurance policies for all government assets involved in these partnerships.
“Talking about the audit, we are already putting in place mechanisms to start auditing the performance of PPP agreements that were signed in the past: this is not aimed at condemning or terminating them but to optimise them in the interest of the Nation,” he said.
Dr. Ewalefoh further assured the Minister that the commission would take up his charge to train PPP desk officers in MDAs which it was already doing through its institute.
He also urged the ministry not to relent in adopting PPP projects or seek clarifications where necessary.
“When it comes to the issue of insurance, of course, it is a matter of law for all national assets, both hard and soft infrastructure that are concessioned through PPP to be insured.
“That is one area we are looking into and would very soon issue a directive that all assets under PPP must, in compliance with the law, be insured,” Ewalefoh added.
The DG also thanked the minister for being at the forefront of utilising Public Private Partnerships in delivering key infrastructure needs and pointed out that his choice of the ministry for his first official visit was because of his performance and his adoption of PPP as a vehicle of realising his mandate.
The ICRC DG said that in the past year of the current administration, the Minister has presented the greatest number of PPP projects to the Federal Executive Council for approval, while commending him for not moving to cancel any ongoing PPP in his Ministry but rather find a way of optimizing those that were stalling for better performance and increase revenue generation.
In his remark, the minister commended the appointment of Dr. Ewalefoh as the DG of ICRC, describing it as a clear demonstration of the intention of the government to diversify the economy and allow the private sector to play its role, adding that his qualifications and experience were unquestionable.
The Minister disclosed plans to efficiently leverage PPPs to make key agencies in the Ministry self-reliant and exit them from the government’s budget line.
