The Federal Government, through the Infrastructure Concession Regulatory Commission (ICRC), has announced plans to audit all Public Private Partnership (PPP) projects. The goal is to assess their performance and ensure compliance with insurance requirements as mandated by the Infrastructure Concession Regulatory Commission Establishment Act of 2005.
Dr. Jobson Oseodion Ewalefoh, Director General of the ICRC, shared this information during his inaugural courtesy visit to the Minister of Interior, Hon. (Dr) Olubunmi Tunji-Ojo, on Tuesday. During the visit, Dr. Ewalefoh presented the Minister with the PPP Icon Award.
According to Ifeanyi Nwoko, Acting Head of Media and Publicity for the ICRC, the Director General assured that the Commission is already evaluating the performance of all PPP projects and enforcing insurance policies for government assets under these agreements.
Dr. Ewalefoh emphasized that the audit aims to optimize, not condemn or terminate, existing PPP agreements. He also mentioned that a directive would soon be issued to ensure all PPP assets are insured as required by law. Additionally, he encouraged the Ministry to continue adopting PPP projects and seek clarifications when needed.