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ICRC seeks NACCIMA, others’ support to bridge N298trn infrastructure gap

The Infrastructure Concession Regulatory Commission (ICRC) has urged the Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and other private sector players to partner with it in bridging the nation’s infrastructure gap.

The Director General of ICRC Anthony Ohiani made the call while receiving a delegation from NACCIMA led by its National President, John Udeagbala.

In a presentation to the team, the ICRC pointed out that the federal government’s National Development Plan (NDP) 2021-2025 proposes an expenditure of N348 trillion out of which it can only afford N49.7 trillion across the three tiers of government.

The remaining N298 trillion, Ohiani noted, was expected to come from the private sector, hence the need for private sector collaboration.

Members of the delegation were also informed that private sector operators were also allowed to make proposals for viable PPP projects which they have the capacity to undertake.

In his remarks at the visit, the NACCIMA President, Udeagbala, said the body was highly interested in partnering with the ICRC on infrastructure development.

He added that the association was interested in the pace of development in Nigeria, especially in the power and energy sector, adding that the body was willing to contribute to bridge infrastructure gaps.

“The aim of our visit today is to explore ways and lay a foundation for possible cooperation between our organisations on sectors that are of interest to our members…”

“The sectors include: Infrastructure, power and energy, these sectors remain key assets to the growth and development of any economy,” he said.

He said that the Organised Private Sector (OPS) was interested in contributing to infrastructure development in the country, stressing that the government could deploy PPPs for such developments, particularly in the power and energy sector.

He said that NACCIMA was a body of all chambers of commerce across Nigeria, with activities spanning across the various sectors of the economy and is at the forefront of advocacy for policies to promote the interest of the private sector.

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