Nigerian infrastructure investment undergoes regulatory change
15 January 2010
From now on, all public private partnerships (PPPs) in the Nigerian development sector will need the endorsement of the Infrastructure Concession and Regulatory Commission in order to be recognised by the federal executive council.
Presenting the report was commission chairman Ernest Shonekan, who was quoted as saying PPPs were much valued for their role in the country's various projects and this reform would make the system stronger.
"We have commended active engagement of [ministries, departments and agencies] to develop a sound basis for collaboration in ensuring sustainability in the execution of PPP projects in line with the seven-point agenda of the government," he was quoted by Leadership Nigeria as saying.
Vice-president Goodluck Jonathan added that one advantage of the regulations would be fewer worries of concessionaires or PPP partners reneging on pre-contract agreements.
At the recent Commonwealth Telecommunications Organisation, state leaders were reported by the Vanguard as echoing Nigeria in calling on PPPs to lead ICT investment in the region.