ICRC Begins National Audits Of Public-Private Partnership Projects

The Infrastructure Concession Regulatory Commission (ICRC) has commenced a national audit and performance evaluation of all 103 Public-Private Partnership (PPP) projects.

The ICRC Director General, Dr. Jobson Ewalefoh, said the process will ensure that all the projects are insured as statutorily stipulated in the Infrastructure Concession Regulatory Commission Establishment Act, 2005.

Ewalefoh, during his visit to the Minister of Interior, Olubunmi Tunji-Ojo in Abuja, 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.

“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 said.

The ICRC DG appreciated Tunji-Ojo’s resilience, adding that the Minister has presented the greatest number of PPP projects to the Federal Executive Council for approval.

The interior 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 highlight of the visit was the award of the PPP Icon to the minister, a statement signed by the Acting Head of media, and Publicity, Ifeanyi Nwoko, said on Wednesday in Abuja.