The Infrastructure Concession Regulatory Commission has issued a Certificate of Compliance for an Outline Business Case for the operation of the Modular Floating Dockyard acquired by the Nigerian Maritime Administration and Safety Agency.
NIMASA disclosed this in a statement after the Acting Director General of the commission, Mr Michael Ohiani, led a team of ICRC officers to the NIMASA headquarters in Lagos to present the certificate.
Ohiani said the agency’s outline business case for the Modular Floating Dockyard’s management contract to be operated, maintained, and transferred under a Public Private Partnership arrangement was in compliance with the ICRC Act 2005 and the National Policy on Public Private Partnership.
Speaking while receiving the Certificate of Compliance, Director General of NIMASA, Dr Bashir Jamoh, said the Modular Floating Dockyard was a national asset.
Jamoh said issues such as security, accessibility, and existing complimentary infrastructure on ground were considered in the development of a business case for the dockyard, which would be managed on a PPP basis with NIMASA and the Nigerian Ports Authority on the one hand, and a management company, on the other.
He added that ICRC would closely monitor the entire implementation process to ensure equity, fairness, and profitability for the Federal Government.
Jamoh said, “It is one thing to have the modular dockyard, and another for it to enjoy patronage and be a profitable venture for the government.
“So many funds have been invested in the project and it cannot serve just as a workshop for an institution of learning, as being inferred in some quarters.
“Detailed investigation has also confirmed that the dockyard cannot berth at an area earlier proposed for it. We got approval from our supervising ministry to deploy the asset on a PPP basis and we are working in conjunction with the Nigerian Ports Authority.
“The floating dockyard is a national asset and we consulted the ICRC, which is the regulatory agency of government, to review the process of deployment to confirm that it is a worthwhile investment on a PPP arrangement, and today they have confirmed to us that we are on the right path.”