By Nathaniel Zaccheaus
Critical stakeholders in the Public-Private Partnership sector, on Thursday, supported moves by the Senate to rename the Infrastructure Concession Regulatory Commission through an Act of Parliament.
It would now be referred to as the Public-Private Partnership Regulatory Commission.
The Senate Committee on Works held a public hearing on the issue where critical stakeholders, apart from the Bureau of Public Enterprises, backed the action of the red chamber.
The bill sought to repeal the Infrastructure Concession Regulatory Commission Act 2005 and enact the Public-Private Partnership Regulatory Commission Act 2022.
Critical stakeholders like the Acting Director-General of ICRC, Michael Omani; Office of the Attorney – General of the Federation; the Central Bank Governor, Godwin Emefiele; and the representative of the Council for the Regulation of Engineering in Nigeria, Chukuma Katchchy, among others, supported the bill but the BPE kicked against it.
The Bureau of Public Enterprises said the move would lead to the duplication of functions between the envisioned agency and BPE.
Specifically, the Acting Director-General of ICRC, Michael Ohiani told the panel that the proposed bill would put to rest, the inter-agency rivalry between ICRC and BPE as far as regulation of PPP was concerned.
He said ICRC had significantly contributed to the overall economic development of the country.
He said between 2010 to 2020 under the regulatory guidance of the federal government approved over $19bn Private Public Partnership Project project.
He said, “We have been given a certificate of compliance in respect of 142 projects and a Full Business Case certificate. The objective of the bill is well spelled out by putting to rest the seemingly jurisdictional conflict between ICRC and BPE.
“This aligns with the circular that was issued by the Federal Government which states 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.
” PPP is a global phenomenon which must be well regulated in Nigeria as envisioned by the proposed legislation. The bill is no doubt, people-oriented,” he said.
However, the Director-General of BPE, Alex Okoh in his submission, kicked against the bill on the alleged grounds of duplication of functions between the proposed agency and BPE.
He said the role of an operator should be delineated from that of a regulator.
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He said extant laws mandated BPE to superintend the PPP transactions.
He said, “There is no territory in the world where PPP is
regulated by an agency as envisioned with the proposed Public-Private Partnership Regulatory Commission.
” We appeal to the Senate not to come up with a legislation that will worsen inter-agency collaboration through duplication of functions.”
Nevertheless, the Chairman of the Committee, Senator Adamu Aliero ( APC Kebbi Central ) and member, Senator Robert Ajayi Boroffice ( APC Ondo North), assured the BPE DG that the proposed bill would not in any way affect extant laws.
