The Infrastructure Concession Regulatory Commission has initiated an audit to assess the performance of all Public-Private Partnerships projects across Nigeria.
This move aligns with the statutory obligations outlined in the Infrastructure Concession Regulatory Commission Establishment Act of 2005, which mandates that all projects under PPP agreements be insured.
According to The PUNCH, ICRC Director General, Dr. Jobson Ewalefoh, disclosed this development during a courtesy visit to the Minister of Interior, Olubunmi Tunji-Ojo.
During the visit, Ewalefoh presented the minister with a PPP Icon Award, acknowledging his significant contributions in promoting PPP projects.
The recognition was confirmed in a statement issued by Ifeanyi Nwoko, the Acting Head of Media and Publicity for the ICRC, on Wednesday in Abuja.
In his remarks, Dr. Ewalefoh emphasized that the commission is in the process of evaluating the performance of PPP agreements that have been signed over the years.
The objective, however, is not to criticize or terminate any ongoing projects, but rather to improve and optimize them in the national interest.
“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 optimize them in the interest of the Nation,” Dr. Ewalefoh stated.
Additionally, Dr. Ewalefoh highlighted the legal requirement for insurance policies to cover all government assets that are part of PPP agreements. He stressed that ensuring the insurance of both tangible and intangible assets is a legal obligation, and the ICRC is committed to enforcing this provision.
“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,” he added.
The DG also affirmed the commission’s commitment to fulfilling the minister’s request to provide training for PPP desk officers within Ministries, Departments, and Agencies.
This initiative is already underway through the ICRC’s specialized institute.
Ewalefoh expressed his appreciation for the minister’s proactive approach to utilizing PPPs for infrastructural development.
He noted that Tunji-Ojo had presented the highest number of PPP projects to the Federal Executive Council in the past year, a testament to his leadership in this area. Furthermore, he commended the minister for seeking to optimize stalling PPP projects rather than cancel them, thus improving performance and boosting revenue.
In response, Minister Tunji-Ojo praised the appointment of Ewalefoh as the ICRC Director General, calling it a strategic move by the government to boost the economy by encouraging greater private sector involvement.
He remarked that Dr. Ewalefoh’s qualifications and experience made him an ideal candidate for the role.
Looking ahead, the minister revealed plans to leverage PPPs to make key agencies under the Ministry of Interior self-reliant.
This, he said, would eventually free these agencies from reliance on government budget allocations.
The meeting between Ewalefoh and Tunji-Ojo underscores the critical role of Public-Private Partnerships in driving infrastructure development, with a focus on ensuring that all projects are fully compliant with legal insurance obligations and maximizing their performance for the greater national benefit.
