ICRC Hails NNPC on PPP Optimisation

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Chidi Izuwah
Chidi Izuwah

By James Emejo

The Director General, Infrastructure Concession Regulatory Commission (ICRC), Mr. Chidi Izuwah, has commended the Nigerian National Petroleum Corporation (NNPC).

Izuwah, hailed the corporation for improving efficiency in the country’s oil and gas sector through private sector participation to optimise operations of its downstream critical pipelines and associated depots/terminal infrastructure through a Finance, Build, Operate and Transfer (FBOT) PPP model.

He gave the commendation during the virtual public Request for Qualification (RFQ) opening ceremony for the infrastructure PPP procurement exercise by the corporation.

A total of 78 companies had submitted electronic RFQs for the four lots advertised by the NNPC in August, 2020 in some national dailies in line with ICRC guidelines via the NIPEX Platform.

Izuwah said the massive response from across the world was full endorsement for President Muhammadu Buhari, adding that the ICRC would continue to provide the NNPC regulatory guidance and support towards up-scaling its downstream assets and operations under the proposed PPP arrangement as governed by the ICRC Establishment Act 2005 and National Policy on Public Private Partnership (N4P).

In a statement issued by the acting Head, Media and Publicity, ICRC, Manji Yarling, Izuwah said: “You have shown the world that you are driving a totally transparent PPP process in line with the Infrastructure revolution of President Muhammadu Buhari.

“I commend the GMD of NNPC, Mr. Mele Kyari and his team for showing the world that things can be done properly and in the best interest of Stakeholders”.