According to a statement made by the Infrastructure Concession Regulatory Commission (ICRC), the Federal Executive Council has authorised three projects for the Nigerian Maritime Administration and Safety Agency to carry out under public-private partnerships (NIMASA).
The federal government anticipates receiving more than $1,110,384,387 from the projects that are covered by the ICRC's regulatory recommendations over the concession term.
These comprise an Eastern Offshore Waste Reception Facility, a Central/Western Offshore Waste Reception Facility, and a Floating Dry Dock. They received approval from FEC after ICRC granted a certificate of conformity for the entire business case.
Director-General of the ICRC Michael Ohiani granted the certification, noting that it demonstrates President Muhammadu Buhari's administration's care for the environment and the wellbeing of offshore fishermen.
The main objective of the permits is to utilise Nigeria's international waterways in a way that complies with MARPOLS 1973/1978, the international convention for the prevention of pollution from ships.
For the benefit of offshore fisherman and coastal communities, the proposed collaboration aims to protect the offshore environment, provide a visible deterrent for offshore polluters from a surveillance standpoint, and reduce the existing pollution level.
The OWRF-funded initiatives will help achieve the overarching objective of keeping the oceans and seas clean. Each facility will be sufficiently big when it is constructed to handle the demands of frequent users such as ships and other installations, contribute to the enhancement of the marine environment, and allow for the safe, long-term discharge of waste from such sources as ships and other installations.
XPO Marine Services Limited will be the concessionaire for the Eastern OWRF for 10 years as part of the Design, Finance, Build, Operate, Maintain, and Transfer (DFBOMT) PPP model, according to more information on the project.
Eastern OWRF is required to pay the federal government $279,487,228.15 during the course of the concession period in accordance with the income-sharing percentages under the concession agreement.
Based on the revenue-sharing percentages, the Federal Government anticipates receiving a total of $765,289,988 from the Central and Western zones throughout the course of the concession.
The Central and Western OWRFs, which are both run by African Circle Pollution Waste Management Limited, have a 10-year concession duration.
The floating dry dock owned by NIMASA will be operated, maintained, and eventually turned over under a management agreement approved by the executive council. The FDD is for maintaining cabotage ships.
The concessionaire, J. Marine Logistics Limited, will be in charge of managing the Modular/Floating Dry Dock operation for 15 years.
NIMASA received a total of $65,607,171 during the course of the 15-year concession period (N27,226,975,965). Once the project is fully operating, over 800 direct and indirect employment might be generated.
The project is expected to produce income in addition to providing ship and boat servicing facilities, increasing capacity, and creating jobs.
The Federal Radio Corporation of Nigeria (FRCN) will construct a commercial mixed-use complex in Ikeja, Lagos, with the help of a public-private partnership (PPP) that would contain houses, hotels, leisure centres, and offices.
The concessionaire for the FRCN PPP project is Fish Valley Investment & Property Limited. The concession duration is 55 years, with an expected N14.9 billion in income during that time.