9 months ago
54 ARTICLE AD
The House of Representatives has taken a decisive step towards scrutinising the efficiency of Public-Private Partnership (PPP) initiatives and concession agreements across the country.
This is sequel to a motion moved by Hon. Saidu Musa Abdullahi.
The House expressed concern over the dwindling revenues that should accrue to the Federation Account and has highlighted the substantial deficit in infrastructure development, noting that the deficit has far-reaching consequences on the execution of the budget and the overall economic stability of the nation due to Nigeria’s heavy reliance on oil.
Acknowledging the critical role of the private sector in infrastructure development, the House recognised the extensive involvement in projects across various domains, including roads, railways, airports, housing, and power generation.
These collaborations have been pivotal in driving economic growth and prosperity.
The Infrastructure Concession Regulatory Commission (ICRC), tasked with overseeing policies, discussions, and supervision of all public-private partnerships and concession programs, has been noted by the House of Representatives for its central role in these projects.
However, despite initiating several PPPs and concession programmes, the outcomes have been mixed, with some projects stalled and others failing to yield anticipated results.
The House also raised concerns regarding the participation and interest from investors, which has not been fully actualised due to a lack of coordination between government agencies and the ICRC, leading to delays in the commencement of several projects.
The House therefore mandated the Committee on Public Assets, under the leadership of Hon. Ademorin Kuye, and the Committee on Special Duties, under the leadership of Hon. Kabir Tukura Ibrahim, to conduct a thorough investigation and assessment of the PPP and concession agreements’ performance.
The committees are tasked with recommending strategies to enhance the nation’s infrastructure development. A timeframe of has been set for the committee to report its findings, which will be crucial in determining the future legislative action required to rectify the issues within the PPP frameworks.
The investigation is expected to bring about greater transparency and efficiency in the management of public-private partnerships in Nigeria, ensuring that the nation’s infrastructure meets the needs of its citizens and supports sustainable economic growth.
