TheCable

The federal government has clarified the responsibilities of the Infrastructure Concession Regulatory Commission (ICRC) and Bureau of Public Enterprises (BPE) in implementing public-private partnerships.

The guidelines are contained in a September 14 circular signed by Boss Mustapha (pictured), secretary to the government of the federation, and seen by TheCable.

Mustapha said the clarification became necessary because there is no clear distinction between the functions of both agencies which has affected investors’ confidence in the Nigerian economy.

He said BPE will be responsible for the concession of public enterprises and infrastructure, while the ICRC will act as a regulatory agency for government concessions.

“Following the absence of clear distinction between the functions of the Infrastructure Concession Regulatory Commission (ICRC) and Bureau of Public Enterprises (BPE) and its consequences on investors’ confidence in the Nigerian economy, the federal government has approved the following guidelines for use in applying the national policy on public-private partnership (PPP) vis-a-vis the extant laws guiding the operations of the Infrastructure Concession Regulatory Commission (ICRC) and Bureau of Public Enterprises (BPE) in the administration of PPP processes,” the circular reads.

According to the guidelines, the BPE shall be responsible for the concession of public enterprises and infrastructure already listed in the first and second schedules of the public enterprises (privatisation and commercialisation) act.

The agency will also “act on behalf of the federal government, either alone or in conjunction other relevant ministries, agency, corporation or body, as the counterparty on all infrastructure projects being developed on a public-private partnership basis”.

The SGF said the ICRC shall “act as the regulatory agency for PPP transactions, with powers to inspect, supervise as well as monitor the projects and process, in order to ensure compliance with relevant laws, policies and regulations.”

“In processing any PPP transaction under paragraph (a) above, BPE and the relevant agency of government shall ensure compliance with the provisions of the Infrastructure Concession Regulatory Commission (Establishment, Etc.) Act, 2005.”

Mustapha said the circular will take immediate effect, adding that it supersedes any previous directive on this subject.