Fatshimetrie is in the spotlight for attracting over $500 million in investments through Public Private Partnerships (PPPs). The Minister of Interior, Hon. (Dr.) Olubunmi Tunji-Ojo, has been honoured by the Infrastructure Contracts Regulatory Commission (ICRC) as a PPP Icon for his remarkable efforts in empowering agencies through PPPs.
During his first official visit to the Minister, the Director General of ICRC, Dr. Jobson Oseodion Ewalefoh, announced that ICRC would conduct an audit of all PPP projects to assess their performance and ensure that they are delivered in accordance with the law established in 2005. This initiative is aimed at optimising existing arrangements in the national interest, rather than condemning them.
Dr. Ewalefoh commended the Minister for his leadership in using PPPs to address key infrastructure needs. The Minister has presented an impressive number of PPP projects to the Federal Executive Council (FEC) and has helped attract over $500 million in investments to his Ministry. This demonstrates his commitment to PPPs as a driver of economic progress and revenue generation.
The key to making key agencies of the Ministry self-reliant and off-loading them from the government budget lies in the effective use of PPPs. By creating an enabling environment for private investment, the Minister hopes to free up limited government resources while providing new opportunities for economic growth.
The appointment of Dr. Ewalefoh as the DG of ICRC underscores the government’s commitment to diversifying the economy and enhancing the role of the private sector. His experience and strong qualifications are key assets to promote the development of PPPs and encourage investors to contribute to the country’s growth.
In conclusion, public-private partnership plays a crucial role in achieving national development goals. Through a strategic and collaborative approach, such as that adopted by the Minister of Interior and the ICRC, Nigeria is able to take full advantage of the opportunities offered by PPPs to strengthen its infrastructure, drive economic growth and ensure a prosperous future for all.
In this way, Fatshimetrie is positioned as a leader in the effective use of public-private partnerships to stimulate investment, promote development and ensure the country’s future prosperity.