BPE Unveils Project To Create More Jobs and Infrastructure In The Country

By Oluchi Ihediuche

The Bureau of Public Enterprises (BPE) has
Commended President Mohammedu Buhari for his giant stride towards infrastructural development through the implementation of the new Federal Government’s circular on the administration of Public-Private Partnership (PPP) projects in the country,

Director General of the privatisation agency, Mr. Alex A. Okoh who stated that the project will unlock investment capital into the infrastructure space, boost economic development and create jobs, outlined strategies for its Implementation.
at the end of the one-day webinar organized by the BPE on deepening the Nigerian Infrastructure stock through Public-Private Partnership (PPP)

Mr Okoh said the first step involves the engagement with Key Ministries, Departments and Agencies to workout modalities for implementing the FGN circular.

He added, that the first quarter of 2021, the Bureau would develop and circulate a template that would enable MDAs to document all the ongoing PPP transactions and their current status and the Bureau, working together with the MDAs, would host two additional webinars in the first quarter of next year.

“One of the webinars will be targeted at local and international financial institutions, including international development financial institutions. These are the partners that are expected to provide funding to investors in the Nigerian PPP market”, he stated.

According to the Director General, “the second webinar will be targeted at local and foreign construction companies, infrastructure management companies and other investors who are global players in the delivery of infrastructure through PPP arrangements”.

He stressed That, the second quarter of next year, the update or development of Nigeria’s pipeline of PPP projects would be finalised and launched, thus, signalling the commencement of the procurement phase of individual PPP projects across the country.

“Also in the second quarter, a webinar will be held for Governors and other sub-national leaders to obtain their buy-in given that they are critical stakeholders in the delivery of infrastructure”

The last step would lead to the establishment of Transaction Implementation Committees (TIC) where each Transaction Implementation Committee will be established with membership drawn from the Bureau of Public Enterprises and relevant MDAs in the third quarter, with the mandate to deliver specific projects contained in the approved national project pipeline.