With the launch by Federal Government of the Federal Republic of Nigeria of PPP Disclosure Framework, PPP contracts will no longer be shrouded in secrecy in the country.
PPP Disclosure Framework is an online-based platform on the ICRC web portal sponsored to be accessed by the general public and launched by the government to ensure that the general public has access to Public Private Partnerships (PPPs) contract information in the country.
The project was executed by the Infrastructure Concession Regulatory Commission (ICRC) in partnership with the World Bank after consultations from the Ministries, Departments and Agencies, the PPP financiers, the concessionaires and civil society organisations.
Speaking at the public launch, at the weekend, the Vice President of Nigeria, Prof. Yemi Osinbajo, said the Federal Government plans to use Public Private Partnership (PPP) as a means to provide basic infrastructure to the people.
Represented by the Minister of State for Power, Works and Housing, Mr Suleiman Hassan, the Vice President said the PPP Disclosure web portal encourages proactive disclosure of contract agreements, the technical specifications and other information between the government and its contractors on PPP projects.
He explained that the portal will make available to citizens and relevant stakeholders, information such as project title, type, government agency responsible, name of private concessionaire, contract sum, and regular progress report on the projects.
On the disclosure portal, he urged ministries department and agencies of the Federal Government to proactively release and upload all information regarding the PPP contracts they have entered into.
Osinbajo said the provision of high quality infrastructure remains a huge stumbling block to the country’s economic growth hence the need to seek private sector intervention.
“Infrastructure is very vital in the lives of our people. It will not only serve as a catalyst for economic growth but would also accelerate employment generation and alleviate poverty. This administration is committed to exploring and using any scheme necessary especially PPPs to help achieve the level of infrastructure development needed in the country,” he said.
Also speaking at the occasion, the acting Director-General, Infrastructure Concession Regulatory Commission (ICRC), Mr Chide Izuwah, said the country currently had 51 PPP contracts valued at about 3.2 trillion dollars.
He said the figure represents the total private capital investment stake in the provision of public infrastructure adding the ICRC also has 77 PPP bankable projects in various stages of development.
