The Federal government, through the Infrastructure Concession Regulatory Commission, has begun an audit process to evaluate the performance of all Public-Private Partnership projects across the country.
The ICRC Director General, Dr. Jobson Ewalefoh, disclosed this when he paid a courtesy visit to the Minister of Interior, Olubunmi Tunji-Ojo, saying the process will ensure that all the projects are insured as statutorily stipulated in the Infrastructure Concession Regulatory Commission Establishment Act, 2005.
Dr. Ewalefoh announced that the commission has begun evaluating the performance of all Public-Private Partnership projects and emphasized the enforcement of insurance policies for all government assets involved in these partnerships.
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.
According to a statement signed by the Acting Head, Media, and Publicity, Ifeanyi Nwoko, on Wednesday in Abuja, the DG who also honoured the minister with the PPP Icon award, said, “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.”
Ewalefoh, who further assured the Minister that the commission would take up his charge to train PPP desk officers in MDAs, which it has already embarked on through its institute, also urged the ministry not to relent in adopting PPP projects or seek clarifications where necessary.
He said, “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 concessional 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.”
The DG also thanked the minister for being at the forefront of utilising public-private 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 for realising his mandate.
The ICRC DG recalled 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.
