The Federal Government approved nine billion dollars for Private Public Partnership (PPP) projects from 2010 to 2020.

Mr. Micheal Ohiani, the Acting Director-General (D-G), Infrastructure Concession Regulatory Commission (ICRC) made this known in Abuja on Thursday.

He was speaking at a one-day public hearing for a bill to repeal the Infrastructure Concession Regulatory Commission Act 2005 and enact the Public-Private Partnership Regulatory Commission Act 2022.

The News Agency of Nigeria (NAN) reports that the public hearing was organized by the Senate Committee on Works.

Ohiani said the commission has significantly contributed to the overall economic development of the country.

“Between 2010 to 2020 under the regulatory guidance of the FGN has approved over 9billion 19 dollars for Private Public Partnership Project (PPP) project.

“We have been given a certificate of compliance in respect of 142 projects and Full Business Case (FBC ) certificate,” he said.

According to him, the objective of the new bill is well spelled out in section 2, paragraph abcde of the bill.

He said the new bill proposes a section where private sectors would be protected as there was an incentive for the private sector.

He also said the new bill provides power for the regulator to effect punitive measures on project defaulters .

“The bill also has put to rest the seemingly jurisdictional conflict between ICRC and BPE, however, this is in consonance with the circular that was issued by the Federal Government.

“The secular states that state that the ICRC shall act as the regulatory agency for PPP transactions, with power to inspect, supervise and monitor the projects and process to ensure compliance to relevant laws and regulations,” he said.

Meanwhile, stakeholders at the public hearing drummed support for the passage of the bill, given the importance of PPP to road development in the country.

The Bureau of Public Enterprises ( BPE), however, kicked against the move on alleged duplication of functions between the envisioned agency and BPE .

Other stakeholders who spoke in favor of the bill were representatives of the Office of Attorney – General of the Federation, the Central Bank of Nigeria (CBN), the Council for the Regulation of Engineering in Nigeria ( COREN), Federal Inland Revenue Services (FIRS ) among others.

But the Director-General of BPE, Mr. Alex Okoh, in his submission, said there was a duplication of functions between the proposed agency and BPE.
He said the role of an operator should be delineated from that of a regulator .

Extant laws according to him, mandate BPE to superintend PPP transactions.

"There is no territory in the world where PPP is regulated by an agency as envisioned with the proposed Public-Private Partnership Regulatory Commission (PPPRC) .

"We appeal to the Senate not to come up with a legislation that will worsen inter-agency collaboration through duplication of functions “.

But the Chairman of the Committee, Sen. Adamu Aliero (APC -Kebbi) and member, Sen.Robert Ajayi Boroffice (APC- Ondo), assured him that the proposed bill will not in any way infract on extant laws