Nigeria Attracted U.S.$8 Billion PPP Project Investments in 10 Years - ICRC

Public Private Partnerships (PPP) projects have attracted about $8bn (about N2.8trn) to Nigeria in the past ten years, the Director-General, Infrastructure Concession and Regulatory Commission (ICRC), Mr. Chidi Izuwah) has said.

Mr. Izuwah disclosed this Thursday when the Ambassador of the Republic of Indonesia to Nigeria, H. E. Usra Hendra Harahap paid him a courtesy call.

"The $8bn was achieved in ten years in various projects which are available. Don't forget that Nigeria is the first country in the world to have the PPP disclosure portal and all those projects are on the portal. But I am not focused on the past. I am focused on the future. The $8bn is done but it hasn't solved all our problems. So my worry is the billions in dollars of future money that we need to create" Mr. Izuwah noted.

He listed some of the PPP projects that attracted that huge sum to Nigeria to include; "projects Lekki Deep Seaport, the Silos, the DICON in Kaduna, which will revive our entire fertilizer value chain and also our textiles value chain - our entire ginneries are closed. When that factory is completed, our cotton farmers will go back to the farms again. That's the whole mass of projects that is attracting these investments. "

He said the PPP opportunities are endless. "Look at what we are creating with the Highway Development Management Initiative (HDMI), with our roads. Why shouldn't our roads be like elsewhere in the world? Why shouldn't our hospitals, be like other hospital in the world? Why shouldn't our airports be like other airports in the world? Why shouldn't our farms be like any farm elsewhere in the world? That is the future" he said.

Speaking to the essence of the meeting, he said with Indonesia being the current the 16th largest economy in the world by nominal GDP and the 8th largest in terms of GDP (Purchasing power parity), the ICRC looks forward to a cordial working and knowledge sharing relationships between Nigeria and Indonesia.

He also requested for a collaboration with the Ambassador for an immediately Nigeria-Indonesia PPP Knowledge Sharing Webinar where top Nigerian government functionaries would be honoured to listen to great Indonesia PPP/Infrastructure experts.

Commenting, Amb. Harahap, said he welcome the collaboration. "I have been working with the Nigerian government and other relevant stakeholders to strengthen the bilateral relations between both countries, especially on the economy."

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