The Public Private Partnership Regulatory Commission Act being worked upon by the Senate Committee on Works has received overwhelming endorsements from many stakeholders.
The Act is to replace the Infrastructure Concession Regulatory Commission Act 2005 and enacting the Public Private Partnership Regulatory Commission Act 2022.
The Bureau of Public Enterprises (BPE), however, has kicked against the act describing it as a duplication of the functions between the proposed agency and BPE.
There were divergent opinions on the planned legislation Thursday during a day public hearing held on it by the Senate Committee on Works.
While critical stakeholders like the Acting Director – General of Infrastructure Concession Regulatory Commission (ICRC), Michael Omani, office of Attorney – General of the Federation, the Central Bank Governor, Godwin Emefiele, representative of Council for the Regulation of Engineering in Nigeria ( COREN), Engr Chukuma Katchchy etc, supported the bill, but BPE kicked against it
The Acting Director General of ICRC , Michael Ohiani in his submision said the proposed will put to rest agency rivalry between ICRC and Bureau of Public Enterprises ( BPE) as far as regulation of PPP is concerned.
He said ICRC has significantly contributed in the development overall economic development of the country.
According to him, between 2010 to 2020 under the regulatory guidance of the FGN has approved over $19 billion dollars Private Public Partnership Project (PPP) project.
“We have been given certificate of compliance in respect of 142 projects and Full Business Case (FBC ) certificate .The objective of the bill is well spelt out by putting to rest the seemingly jurisdictional conflict between ICRC and BPE.
“This is in consonance with the circular that was issued by the Federal Government which states that the ICRC shall act as the regulatory agency for PPP transactions, with power to inspect, supervise and monitor the projects and process to ensure compliance to relevant laws and regulations.
“PPP is a global phenomenon which must be well regulated in Nigeria as envisioned by the proposed legislation. The bill is no doubt , people oriented”, he said.
But the Director General of BPE, Alex Okoh , in his submission , kicked against the bill on alleged ground of duplication of functions between the proposed agency and BPE.
He said the role of an operator should be delineated from that of a regulator
Extant laws according to him, mandate BPE to supritend PPP transactions .
“There is no territory in the world where PPP are regulated by an agency as envisioned with the proposed Public Private Partnership Regulatory Commission ( PPPRC) .
“We appeal to the Senate not to come up with a legislation that will worsen inter agency collaboration through duplication of functions “
ByBut the Chairman of the Committee , Senator Adamu Aliero ( APC Kebbi Central ) and member, Senator Robert Ajayi Boroffice ( APC Ondo North), assured him that the proposed bill will not in any way infract on extant laws .