Overview

This circular from the Office of the Secretary to the Government of the Federation, Nigeria, dated 14th September 2020, clarifies the roles of the Infrastructure Concession Regulatory Commission (ICRC) and the Bureau of Public Enterprises (BPE) in the administration of Public-Private Partnership (PPP) projects. The Federal Government approved guidelines to resolve the lack of clear distinction between the functions of ICRC and BPE, which had impacted investor confidence. The guidelines specify that BPE is responsible for the concession of public enterprises and infrastructure listed in the First and Second Schedules of the Public Enterprises (Privatization and Commercialisation) Act, and acts as counterparty for PPP projects on behalf of the government. ICRC serves as the regulatory agency for PPP transactions with powers to inspect, supervise, and monitor projects for compliance. BPE and relevant agencies must ensure compliance with the ICRC Act 2005 when processing PPP transactions. The circular supersedes previous directives and takes immediate effect.

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