Mr Chidi Izuwah, Acting Director-General, Infrastructure Concession Regulatory Commission (ICRC), has pledged the commission’s commitment to ensure speedy process in the preparation of Public-Private Partnership projects in the country.
Mr Chizi Izuwah, the Acting Director-General of the commission, made the pledge in a statement by Mrs Manji Yarling, Acting Head of Communications of ICRC on Thursday in Abuja.
Izuwah spoke at the presentation of an Outline Business Case Compliance Certificate for the 33 Silos to the Minister of Agriculture, Mr Audu Ogbeh, in Abuja.
“The delays experienced in project preparation for Public-Private Partnership projects are presently being addressed to fast track the process of reaching financial close,” Izuwa said.
He said there was need to ensure that investors were in a position to recoup their money, adding that steps were already being taken to that effect.
Responding, the Minister of Agriculture, represented by the Minister of State, Heineken Lokpobiri, pledged the support of the ministry for the success of the project.
Ogbe stressed that the success of the project was critical to accomplishing the agricultural transformation agenda of the Federal Government.
He said that although there had been complaints of delays in the PPP process, he remained confident that the ICRC, given its renewed vigour, would address the challenge.
The Federal Government, through the Ministry of Agriculture and Rural Development, seeks to partner the private sector for the management and operation of 33 grain silos in Nigeria.
This is in line with government’s strategic vision of firmly establishing PPPs as a viable option for the operations and management of Silo infrastructure for storage of grains in the country.
Accordingly, the Ministry of Agriculture is taking steps to concession Silos built across the country by the government.
The total combined storage capacity of the complexes is about 1.36 million metric tonnes.