ICRC attracts $8bn investments through PPP arrangements

The Infrastructure Concession Regulatory Commission (ICRC), has attracted about eight billiion dollars investments into the country since its establishment.

Mr Chidi Izuwah, ICRC Director-General, disclosed this when he received the Ambassador of the Republic of Indonesia to Nigeria, Mr Usra Harahap who paid him a courtesy visit on Thursday in Abuja.

Izuwah said that in the last one and half decades, Nigeria had successfully implemented Private Public partnership (PPP) projects in seaport terminals, silo complexes, and hydropower plants among others.

He said the commission was currently in the process of procuring private sector partners for 10 selected roads for Tolling, Inland Container Depots and Dry Ports and Truck Transit Parks.

He noted that ICRC in the past few years, had recorded sound achievements all geared toward simplifying its procurement process and attracting investors into the country’s economy.

The director-general further said that partnering with Indonesia was important because of its robust economy.

” Indonesia is currently the 16th largest economy in the world and the 8th largest in terms of GDP purchasing power purity,” he said.

According to him, it is also predicted that by 2045, Indonesia will become the fourth largest economy with more than 10.5 trillion dollars of GDP.

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Izuwah said it was in view of this that the commission decided to collaborate with Indonesia for the benefit of both countries.

Harahap expressed his country’s readiness to partner with Nigeria for accelerated development.

He said he had been in the country in the last one and half years, working to strengthen the bilateral relationship between the two on economic development.

The envoy said that his visit to the commission would further enhance the cooperation on infrastructure development in the country.

According to him, Indonesia is not new to PPP, as his country has been working to improve infrastructure through concession.

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