Obinna Chima and Nume Ekeghe write that Nigeria’s infrastructure deficit is a hindrance to sustainable economic growth but presents huge opportunities to investors Infrastructure financing plays critical role in promoting economic growth, improving standard of living, poverty reduction, enhancing productivity and in improving competitiveness. It also contributes to environmental sustainability. Clearly, Nigeria is currently faced with huge infrastructural gap that has hindered its desire to exploit its rich natural and human resources to stimulate its […]

The Federal Government in its drive to ensure transparency in the public-private partnership model it is deploying to finance critical infrastructure projects, is set to launch the first of its kind contract disclosure portal on Friday September 22nd, 2017. This will be performed by the Vice-President Prof. Yemi Osinbajo (SAN) who is also the Chairman of the National Council of Privatization for Nigeria. Acting Director-General for the Infrastructure Concession Regulatory Commission Engr. Chidi K.C Izuwah […]

The Federal government has disclosed that all legacy concession contract entered into with the private sector that have stalled, will be revisited and resolved. The Ag. Director General of the Infrastructure Concession Regulatory Commission (ICRC), Engineer Chidi Izuwa revealed this as a guest speaker,  at the 2017 conference of Finance correspondence Association of Nigeria  (FICAN), which held in Lagos at the weekend. The move follows in quick succession, the recent pronouncement by the  Vice President, […]

The Infrastructure Concession Regulatory Commission (ICRC) has offered to lend its expertise on Public Private Partnership (PPP) initiation, design and execution to the Nigerian National Petroleum Corporation (NNPC) to revive its petroleum depots across the country. The NNPC has up to 5000 kilometres of pipeline network, 21 petroleum products storage depots and nine liquefied petroleum gas (LPG) depots, but of these facilities have not functioned optimally. But speaking at the inaugural Nigerian International Pipeline Technology […]

By Kunle Aderinokun, Obinna Chima and Nume Ekeghe The acting Director General, Infrastructure Concession Regulatory Commission (ICRC), Mr. Chidi Izuwah, has put the total amount of funds required to provide quality infrastructure in Nigeria over the next six years at about $100 billion. Izuwah estimated that while about $60 billion would be required for the oil and gas sector; about $20 billion to revamp the power sector;  $14 billion for road; and between  $8 and […]

Oyetunji Abioye To attract the local and foreign private capital needed for infrastructure financing, economic and financial experts have advised the Federal Government to review its policies in order to achieve better business environment. The experts, who posited that the solution to inadequate infrastructure financing in the country was private capital funding, said efforts must be geared at bringing investment inflows. Owing to financial constraints facing the government, they said long-term funding that was independent […]

As part of efforts to tackle challenges of  infrastructure financing in Nigeria, leading experts in the financial sector are expected to proffer solutions at the annual conference of the Finance Correspondents Association of Nigeria (FICAN) on Saturday, September 16, 2017, in Lagos. Experts lined up for the conference themed, “Financing Nigeria’s Infrastructure: Issues, Challenges, and Options,” include President/Chief Executive of the Africa Finance Corporation (AFC), Mr. Andrew Alli; Managing Directors/Chief Executive Officers of Heritage Bank […]

Abuja –  Mr. Chidi Izuwah, the Acting Director-General, Infrastructure Regulatory Concession Commission (ICRC) on Monday said lack of capacity was a major challenge of infrastructure development in the country. Izuwah said that this during the Certified Public Private Partnership Professional training (C-P3 Professional) for civil servants organised by ICRC in collaboration with the World Bank in Abuja. He expressed optimism that the certification and training would equip the participants to be able to address the […]

Abuja –   Mr. Chidi Izuwah, Acting Director-General, Infrastructure Concession Regulatory Commission (ICRC), says Nigeria should draft infrastructure projects that are financially viable with high probability of success, to attract institutional lenders for financing. Izuwah said this on Thursday at the Third Quarter Public Private Partnership Consultative Forum (3PUCF) meeting in Abuja. 3PUCF is a forum designed to provide a platform for Heads of PPP Units in Federal MDAs for knowledge and experience sharing; ensuring […]

The Director-General, Infrastructure Concession Regulatory Commission (ICRC), Mr Chidi Izuwah, said on Wednesday that about 135,000 kilometres of road network in the country were un-tarred. Izuwah said this in Abuja at the 2017 Otis Anyaeji and Nigerian Society of Engineers Annual lecture. He spoke on the theme “Transportation Infrastructure as a Catalyst for Economic Diversification and Inclusive National Development”. “Nigeria has about 195,000 km road network out of which a proportion of about 32,000 km […]

To fast track the process of procuring public private partnerships (PPPs) projects in Nigeria, the Infrastructure Concession and Regulatory Commission (ICRC) is preparing an executive order that will be sent to the president for assent. The long procurement process of PPP projects has come under intense criticism lately by stakeholders saying it’s a disincentive for business. The ICRC said the complaints were not lost on it thus it has began a process to shorten the […]

The Infrastructure Concession Regulatory Commission (ICRC) and the Nigerian Bar Association(NBA) are collaborating to establish a robust legal and regulatory framework to drive Public Private Partnership (PPP) endeavors in the country. Engr. Chidi Izuwah, ICRC’s Director-General said this in a statement signed by Mrs Manji Yarling, Acting Head of Media & Publicity of ICRC,  in Abuja. Izuwah said both organisations recently signed a Memorandum of Understanding (MoU) that would ensure an accelerated infrastructure development in […]

Engr. Chidi Kingsley Izuwah is the Acting Director General of the Infrastructure Concession Regulatory Commission, ICRC. In this interview with the Godwin Oritse, Izuwah said that there is $120trillion capital waiting to be tapped for infrastructure that will grow the nation’s economy and improve her Gross Domestic Product. Excerpt: AS Acting Director  General of the ICRC, how would you describe the general state of infrastructure in Nigeria? Everybody is affected by the poor quality of […]

The delays experienced in project preparation for Public-Private Partnership projects are being addressed so as to fast track the process of reaching financial close. This was made known by the Acting Director General of the ICRC, Engr. Chidi KC Izuwah Snr. Izuwah made the disclosure during the presentation of an Outline Business Case Compliance Certificate for the 33 Silos project to the Hon. Minister of Agriculture, Chief Audu Ogbeh, in Abuja, Wednesday. According to him, […]