-by our correspondent.
The Infrastructure Concession Regulatory Commission (ICRC) has issued a Certificate of Compliance for an outline Business Case (OBC) for the operation of the Modular Floating Dockyard acquired by the Nigerian Maritime Administration and Safety Agency (NIMASA).
In a statement, NIMASA said the Acting Director General of the commission, Michael Ohiani, led a team of ICRC officers to the NIMASA headquarters in Lagos to present the certificate.
Speaking while receiving the Certificate of Compliance, Director General of NIMASA, Dr. Bashir Jamoh, said the Modular Floating Dockyard was a national asset, adding that the Agency was committed to the careful deployment of the dry dock in line with relevant regulatory instruments to help create jobs and wealth as well as generate revenue for the Federal Government.
The NIMASA boss said factors such as security, accessibility, and existing complimentary infrastructure on ground, were considered in the development of a business case for the dockyard, which will be managed on a Public Private Partnership basis with NIMASA and the Nigerian Ports Authority (NPA), on the one hand, and a management company, on the other.
According to the statement, ICRC would closely monitor the entire implementation process to ensure equity, fairness, and profitability for the Federal Government.
“It is one thing to have the Modular Dockyard, and another for it to enjoy patronage and be a profitable venture for 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.” Dr. Jamoh stated.
“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,” he added.
For his part, Ohiani described the Floating Dockyard as a profitable investment by government and noted that only deployment based on due diligence and effective implementation of the approved business case would ensure the durability of the project.
In his words; “The project is bankable and sustainable. The Nigerian government will get value for money in the project. The next step is to get the best concessioner to provide the services and a full business case will be prepared and taken to the Federal Executive Council (FEC) for approval.
“ICRC will continue to manage the process and we hope to conclude the entire process before the end of the year. We will also ensure that the concessioner does not charge arbitrary fees when it becomes operational. It is a total package we are delivering to Nigerians and we seek their understanding and patience.” Ohiani said.