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Michael Ohiani

  •  The Minister of State for Transportation Sen Gbemisola Saraki says the Onitsha river port is positioned to generate over N23billion to the Federal Government in 30 years Saraki during the signing of the concession of the port on Thursday in Abuja said the port had lots of economic benefits to the country According to her hellip
    Onitsha port will generate over N23 billion in 30 years- Saraki
     The Minister of State for Transportation Sen Gbemisola Saraki says the Onitsha river port is positioned to generate over N23billion to the Federal Government in 30 years Saraki during the signing of the concession of the port on Thursday in Abuja said the port had lots of economic benefits to the country According to her hellip
    Onitsha port will generate over N23 billion in 30 years- Saraki
    General news3 days ago

    Onitsha port will generate over N23 billion in 30 years- Saraki

    The Minister of State for Transportation, Sen. Gbemisola Saraki,  says the Onitsha river port is positioned to generate over N23billion to the Federal Government in 30 years.Saraki, during the signing of the concession of the port on Thursday in Abuja, said the port had  lots of economic benefits to the country.According to her, the port will among other things, ensure the 60 per cent shiped cargoes which hitherto goes through Onne port to Onitsha to be transported directly.”So there is a lot of economic growth, there  is going to be creation of wealth, creation of jobs, security and greater development.”We hope it is a catalyst for other river ports, so that it will decongest other ports and bring about  growth.”You know the traffic on our road, the state of our roads as well as the tankers,  and freight being moved on our roads have now reduced.”And so it is a very good thing and we are exceptionally proud that at long last we have actually achieved this.”It’s being signed and we look forward to the growth there to materialise,”Saraki said.According to the minister, the Baro, Lokoja and Oguta ports, which are at different stages of completion, will be considered after the onitsha port.”The most important thing is that we already have interest from potential investors who want to actually take over this.”The Managing Director, the National Inland Waterways Authority, (NIWA) Dr George Moghalu, said the Onitsha port would reduce the volume of cargoes transported via roads to the South East.Moghalu said:”Our roads are not designed to carry the kind of weight they are carrying.”Over 60 per cent  of the containers that arrive Nigeria through Onne, Tin Can or Apapa port ends up in Onitsha and what it translates is that these containers are moved by trailers.”Onitsha port is very well positioned to play a key role in addressing this if opportunities are provided.”He commended the concessioneers in the efforts they were already making in bringing in investors into the country.Moghalu also expressed hope that the concessioing would open up opportunities for other ports in the country to be given due considerations.Meanwhile, the Acting Director-General, Infrastructure Concesion Regulatory Commission,(ICRC) Mr Michael Ohiani, reiterated that the 30 years concession would generate over N23 billion to the government.He said:”After rigorous procurement process, Universal Elysium Consortium emerged as the preferred concessionaire for the concession of Onitsha River Port.”Over the 30-year concession period, the concessionaire will be responsible for all the activities and maintenance of the port.”The asset along with the entire infrastructure will be returned to the authorities at the end of the concession period.”The redevelopment of Onitsha River Port is seen as a boost to commercial activities in the South East.”Importers and traders from the commercial towns of Onitsha, Nnewi, Aba and Ogbete-Enugu see the relaunch as a welcome development from the Federal Government.”The port will serve as an alternative mode of transporting goods from Lagos and Port Harcourt by road.

    NewsSourceCredit: NAN

  •  The Director General Infrastructural Concession Regulatory Commission ICRC Mr Michael Ohiani says Nigeria is yet to upscale its infrastructure stock to the level that will drive the economy as expected Ohiani said this while delivering a Keynote Address virtually at the 2022 WorldStage Economic Summit WES with the theme Nigeria s Economy Bridging the Infrastructural Gap on hellip
    Nigeria yet to upscale infrastructure stock- ICRC boss
     The Director General Infrastructural Concession Regulatory Commission ICRC Mr Michael Ohiani says Nigeria is yet to upscale its infrastructure stock to the level that will drive the economy as expected Ohiani said this while delivering a Keynote Address virtually at the 2022 WorldStage Economic Summit WES with the theme Nigeria s Economy Bridging the Infrastructural Gap on hellip
    Nigeria yet to upscale infrastructure stock- ICRC boss
    Economy2 weeks ago

    Nigeria yet to upscale infrastructure stock- ICRC boss

    The Director-General, Infrastructural Concession Regulatory Commission (ICRC), Mr Michael Ohiani says  Nigeria is yet to upscale its infrastructure stock to the level that will drive the economy as expected.Ohiani said this while delivering a Keynote Address virtually at the 2022 WorldStage Economic Summit(WES) with the theme : ‘Nigeria’s Economy: Bridging the Infrastructural Gap” on Wednesday in Lagos.According to him, while the major problem facing the economy is the lack of adequate infrastructure, the government alone cannot afford to provide the funding necessary to achieve the infrastructure up to the level needed.Ohiani said the desired level would stimulate the much needed economic growth.“It is a known fact that infrastructure drives economic growth and development of any nation.“Our nation has over the years, produced several development plans, but unfortunately, we have not yet upscaled our infrastructure stock to the level which will drive the economy as expected,” he said.According to him, the Federal Government is totally committed to the development of infrastructure through Public Private Partnerships (PPP).Ohiani said this is evidenced by President Muhammadu Buhari’s continuous commitment, as provided in the 2021-2025 National Development plan (NDP) which seeks to encourage more private sector participation in National infrastructure development.He said: “The NDP has a projected N348.1 trillion, with the entire government of the federation programmed to provide about N49 trillion.“The remaining amount is programmed to be provided by the private sector.“This has been the trending truth over the years, that the revenue to our government cannot meet the needed infrastructure quantum and speed.”The acting director-general noted that the ICRC Act of 2005 came into existence to enable private sector participation in the development and operation of critical infrastructure, which was hitherto the obligation of the government to provide.Ohiani emphasised that the country needed to have more investments and innovative ideas on infrastructure development using already proven and trusted techniques from around the world.Ohiani also said that there was need for more commitment from the private sector towards the actualisation of those goals.He said that in the past 14 years, ICRC has gotten Federal Executive Council approval for more than 50 projects, amounting to more than N3 trillion in private sector funds and currently providing regulatory guidance on more than 200 projects.“As part of the ICRC mandate, we gazette and publish a list of PPP eligible projects annually, so that prospective investors will know when and what to invest in.“As at May 2022, there are 77 post-contract PPP projects under implementation at the ICRC Projects Disclosure Portal (www.ppp.icrc.gov.ng or www.icrc.gov.ng).“The portal is the first disclosure portal in the world, established in collaboration with the world bank.“As at May 2022, there are 197 pre-contract projects at Development and Procurement phases at the ICRC Website a between 2010 and 2021.“Also, under the regulatory guidance of the ICRC, the Nigerian government has approved PPP projects worth more than 8 billion dollars.“As at May 2022, the ICRC has issued 128 Outline Business Case Compliance Certificates, which show their bankability.“In the same period, the ICRC has issued 50 Full Business Case Compliance Certificates to date,” he said.According to him, the continuing success of PPP’s around the world and even in Africa shows us that government can share in the responsibility of providing infrastructure given the right guidelines, and within the regulatory framework provided by the ICRC establishment Act 2005.The acting director-general noted that government had laid the foundation in the ICRC act, saying, “It is now time for the private sector to take advantage of this huge opportunity to invest and develop critical infrastructure through private finance initiatives”.He said ICRC is opened to investors and could be reached for advice and guidance in the development of PPP projects.Ohiani  commended WorldStage for organising such forum to brainstorm on the challenges causing infrastructural gap in the country and contributing in proferring solutions to it.In his welcome address, Mr Segun Adeleye, Executive Officer (CEO), WorldStage said that the country is currently facing huge infrastructural gap that has hindered the desire to exploit its rich natural and human resources to stimulate development.Adeleye stated that Nigeria was ranked number 116 competitive nation in the world out of 140 countries in the 2019 edition of the Global Competitiveness Report published by the World Economic Forum, largely due to the poor state of its infrastructure.He noted that the money needed to attain the level of infrastructure desired will not come from the Federal budget ; hence, the approval for the creation of the Infrastructure Concession Regulatory Commission (ICRC) in 2021 by President Muhammadu Buhari.The CEO said that the country is  availed with huge potential in the PPP option by ICRC to address infrastructure deficit.A panel discussion led by Mr Dare Mayowa, Publisher, Global Financial Digest resolved that Nigerians must recruit the right leaders that will make various  institutions work effectively and efficiently ; hence fill the infrastructural gap.Other discussants at the panel were Mr Soji Adeleye, CEO Alfecity Institution, Mrs Maureen Chigbo, Publisher, Realnews Managazine, Dr Joy Ogaji, CEO, Association of Power Generation Companies, Nigeria. (

    NewsSourceCredit: NAN

  •  The Nigeria Customs Service NCS says it will generate a whopping revenue of 176 billion over the next 20 years through the implementation of e customs project The NCS Comptroller General retired Col Hameed Ali disclosed this on Monday in Abuja during the signing of e Customs concession agreement between the NCS Africa Finance Corporation AFC and China s hellip
    Customs will generate 6bn in 20 years through e-Customs project — CGC
     The Nigeria Customs Service NCS says it will generate a whopping revenue of 176 billion over the next 20 years through the implementation of e customs project The NCS Comptroller General retired Col Hameed Ali disclosed this on Monday in Abuja during the signing of e Customs concession agreement between the NCS Africa Finance Corporation AFC and China s hellip
    Customs will generate 6bn in 20 years through e-Customs project — CGC
    Economy1 month ago

    Customs will generate $176bn in 20 years through e-Customs project — CGC

    The Nigeria Customs Service (NCS) says it will generate a whopping revenue of $176 billion over the next 20 years through the implementation of e-customs project.

    The NCS Comptroller-General, retired Col. Hameed Ali, disclosed this on Monday in Abuja during the signing of e-Customs concession agreement between the NCS, Africa Finance Corporation (AFC) and China’s Huawei Technologies Limited.

    Ali said that the e-Customs concession project would ease the cost of doing business, boost revenue, enhance productivity and stop every arbitrariness in the service.

    He said, “The $3.2 billion e-Customs project to be financed by the Africa Finance Corporation (AFC) and managed by Huawei Technologies Limited under a 20-year concession window, when fully implemented, would quadruple Customs’ current N210 billion monthly revenue collection.

    “We will be making $176 billion within the next 20 years.

    “I appreciate our partners, Huawei Technologies Limited. We had to go to China a couple of times and today we are going to become fully digitised.

    “I thank the AFC for financing this project on behalf of the entire Nigerians.The success of this project will be on the global map. We are going to hit the ground running.

    “The journey has been long and torturous, but we’ve eventually signed the dotted lines. I want to appreciate the Infrastructure Concession Regulatory Commission (ICRC) for the commitment to see the project to fruition.”

    The Acting Director-General of ICRC, Mr Michael Ohiani, described the project as revolutionary, adding that it would bring digital smart proceses and procedures to customs operations.

    “This is a migration from analogue to digital. We urge the concessionaire to stick to the rules of engagement as we will be monitoring the project every step of the way,” he said.

    Also, Mr Kelvin Yang, representing Huawei Technologies Limited, said the company would make sure that the aim of the concession agreement was achieved, promising to make it a world standard

    (NAN)

  •  The Infrastructure Concession Regulatory Commission ICRC has issued two Full Business Case FBCs Certificates of Compliance for new infrastructure projects The FBCs are estimated to generate 5 800 new jobs and 2 06 billion dollars in revenue This is contained in a statement signed by Mr Manji Yarling the Acting Head Media and Publicity ICRC in Abuja hellip
    FBCs for new infrastructure projects will create 5,800 jobs, .06bn revenue —ICRC
     The Infrastructure Concession Regulatory Commission ICRC has issued two Full Business Case FBCs Certificates of Compliance for new infrastructure projects The FBCs are estimated to generate 5 800 new jobs and 2 06 billion dollars in revenue This is contained in a statement signed by Mr Manji Yarling the Acting Head Media and Publicity ICRC in Abuja hellip
    FBCs for new infrastructure projects will create 5,800 jobs, .06bn revenue —ICRC
    Economy2 months ago

    FBCs for new infrastructure projects will create 5,800 jobs, $2.06bn revenue —ICRC

    The Infrastructure Concession Regulatory Commission (ICRC), has issued two Full Business Case (FBCs) Certificates of Compliance for new infrastructure projects.

    The FBCs are estimated to generate 5,800 new jobs and 2.06 billion dollars in revenue.

    This is contained in a statement signed by Mr Manji Yarling, the Acting Head, Media and Publicity, ICRC in Abuja on Thursday.

    Yarling said the FBCs were presented to the Minister of Transportation, Rotimi Amaechi.

    According to him, the FBCs are for the concession of the Badagry Deep Seaport and the Floating Dry Dock for The Nigerian Maritime Administration and Safety Agency (NIMASA).

    He said this was in line with the commission’s statutory bid to regulate the advancement of infrastructure development in Nigeria through Public Private Partnerships (PPPs).

    The statement quoted the Acting Director-General, ICRC, Mr Michael Ohiani who presented the certificates, as saying “both projects will  generate more than two billion dollars for the Federal Government and create over 5,800 jobs.

    “We have the opportunity to present the FBC compliance certificate for the Badagry Deep Seaport and within the concession period, it is going to generate over two billion dollars.”

    Ohiani said that the project would create employment opportunities for more than 5,000 direct and indirect jobs.

    “We also use this opportunity to present the FBC for the Floating Dry Dock for NIMASA, it is going to create over 800 jobs and will accrue over 65 million dollars within the period of the concession,” he said.

    Yarling said the Badagry Port aims to address current infrastructure challenges and provide shipping lines and supply chain managers with the best productivity, location, flexibility and cost-effectiveness to power the global supply chains of Nigeria’s leading brands.

    According to him, the state-of-the-art multi-purpose facility will offer its customers superior uncongested hinterland connectivity and the deepest water in West Africa.

    He said the facility would create a sustainable competitive advantage for Nigeria going forward.

    “When completed, the port will comprise: Terminals (General cargo terminals, Container terminals, RoRo & Grain terminals, Offshore supply basis (OSB), Liquid Bulk jetties, Barge and Rail terminal, among others.

    “The Badagry Port will also among other things, increase government revenues, facilitate foreign investments in required modern port infrastructure and reduce congestion within Apapa and Tin Can Island ports.”

    Yarling said for the Floating Dry Dock, the revenue stream of the project would be derived from services provided to Vessels.

    According to him, the total revenue accruing to NIMASA for the 15 years concession period will be 65,607,171 dollars.

    (NAN)

  •  The Infrastructure Concession Regulatory Commission ICRC says it is working assidously to reposition Nigeria as the Public Private Partnership PPP knowledge base in Africa This is contained in a statement signed by Mr Manji Yarling the Acting Head Media and Publicity ICRC in Abuja on Wednesday Yarling said the Acting Director General of the Commission Mr hellip
    ICRC to reposition Nigeria as PPP knowledge base in Africa
     The Infrastructure Concession Regulatory Commission ICRC says it is working assidously to reposition Nigeria as the Public Private Partnership PPP knowledge base in Africa This is contained in a statement signed by Mr Manji Yarling the Acting Head Media and Publicity ICRC in Abuja on Wednesday Yarling said the Acting Director General of the Commission Mr hellip
    ICRC to reposition Nigeria as PPP knowledge base in Africa
    Economy2 months ago

    ICRC to reposition Nigeria as PPP knowledge base in Africa

    The Infrastructure Concession Regulatory Commission (ICRC), says it is working assidously to reposition Nigeria as the Public Private Partnership (PPP) knowledge base in Africa.This is contained in a statement signed by Mr Manji Yarling, the Acting Head, Media and Publicity, ICRC,  in Abuja on Wednesday.Yarling said the Acting Director-General of the Commission, Mr Michael Ohiani, said this at the first meeting of the Nigerian Public Private Partnership Network (NPPPN).He said that the NPPPN  brings together all heads of PPP at the state level under the coordination of the ICRC and the Nigeria Governors’ Forum (NGF).The News Agency of Nigeria reports that the meeting was the first in the series for 2022, with the theme: “PPP in the Health Sector”,  which featured Commissioners of Health from across Nigeria.Yarling said the meeting provided a platform to share experiences and explore opportunities for scaling up PPP in healthcare across other states using NPPPN.The statement quoted Ohiani as saying “the ICRC has also been supporting Nigerian states to adopt PPP models to boost their infrastructure development”.The acting director-general commended states that were already adopting PPP models, pledging the commission’s support to all other states to develop and operationalise bankable PPP projects.“Since its establishment, ICRC has blazed the trail in establishing and institutionalising the use of PPPs in Nigeria for our economic development.“The commission has even gone beyond the federal level to now partner with the states that require guidance and capacity on how to go about the PPP processes”.Ohiani said that ICRC facilitated a World Bank sponsored APMG’s certified PPP practitioners course for 60 Nigerian government staff at the federal and state levels in addition to building PPP capacity.According to him, APM Group International is a reputable global accreditation and examination institute.“During the year, the commission will encourage global certification through the Nigeria Institute of Infrastructure and PPPs like the APMG Certified PPP Practitioner for our members until it becomes a routine process for use in Nigeria.“With our population and the available market, we are setting our sight on being the PPP knowledge base in Africa,” he said.The acting director-general who gave a breakdown of the commission’s achievements since its inception,  said that as of April 25, the commission had issued a total of 105 Outline Business Case Certificates.He said that  the commission had also issued 48 Full Business Case Certificates as well as secured 51 PPP approvals by the Federal Executive Council.The statement also quoted the Director-General, NGF, Asishana Okauru, represented by the Executive Director, Strategy, Dr Abdulateef Shittu, as saying, ” this meeting is part of moves to recover from the effects of the COVID-19 economic downturn.”Okauru said that the meeting underscored the fact that access to essential health services was an important aspect of development.“The COVID-19 pandemic has not only shaped the way we live and interact, but it has also exposed the fragility of our healthcare systems.“Now more than ever, we must be innovative in addressing the myriad of healthcare development challenges that we face as a nation.“While the public sector is responsible to provide key public services, the private sector is critical to harness the expertise and realise the value of state-owned resources,” he said.Okauru said that the meeting also provided an avenue for peer learning and experience sharing with commissioners for Health from states sharing knowledge and experiences in preparing and executing bankable healthcare PPP projects.The statement noted the high points of the meeting including the presentation by representatives of Kaduna and Yobe states of PPP projects being implemented in the health sector of their respective states.Dr Amina Baloni, Kaduna State Commissioner for Health,  informed the forum that the state was already implementing two PPP projects in the health sector called Zipline and PMG MAN.Baloni explained that Zipline is a logistics network of autonomous delivery drones to improve access and availability of routine emergency medicine to health facilities.According to him, the project comprises 30 drones that can serve more than 1,000 health facilities.For PMG MAN, the commissioner said that the PPP project was conceived by the government to ensure the supply of quality, affordable and essential drug medicines to citizens through PMG-MAN local Pharmaceutical companies.She said that since the implementation of the project, the fill rate of orders by health facilities had grown to 76.85 per cent from 38.41 per cent, while shelf availability of essential medicines in pharmacies had also increased.The commissioner said that the state government was already looking to concession a 300-bed hospital, while also seeking opportunities in certain services including dialysis, radio imaging, laboratory and supply chain, among others.(NAN)