CBN, AGF, others back Senate over PPPRC Bill as BPE kicks

Central Bank of Nigeria, CBN, Office of Auditor General of Federation and Infrastructure Concession Regulatory Commission ( ICRC) supported Public Private Partnership Regulatory Commission Act being worked upon by the Senate Committee on Works

But, the Bureau of Public Enterprise (BPE) rejected the proposed bill, alleging duplication of functions between the envisioned agency and BPE during the public hearing held on it by the Senate Committee on Works.

The Act is being sought from repealing the Infrastructure Concession Regulatory Commission Act 2005 and enacting the Public Private Partnership Regulatory Commission Act 2022.

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.

Specifically , the Acting Director General of ICRC , Michael Ohiani in his submission said the proposed bill will put to rest , inter 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 of overall economic  development of the country.

According to him, between 2010 and 2020 under the regulatory guidance of the FGN has  approved  over $19 billion 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 superintend 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 “.

However, the Chairman of the Committee, Senator Adamu Aliero ( APC Kebbi Central ) and member, Senator Robert Ajayi Boroffice (APC Ondo North), countered BPE, saying the proposed legislation will not in any way infract on extant laws.