{"id":237018,"date":"2022-12-23T12:59:30","date_gmt":"2022-12-23T11:59:30","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=237018"},"modified":"2022-12-23T12:59:30","modified_gmt":"2022-12-23T11:59:30","slug":"fec-approves-3-ppp-projects-for-nimasa-targets-1-1bn-revenue","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/12\/23\/fec-approves-3-ppp-projects-for-nimasa-targets-1-1bn-revenue\/","title":{"rendered":"FEC approves 3 PPP projects for NIMASA, targets $1.1bn revenue"},"content":{"rendered":"

The Federal Executive Council (FEC) has given the Nigerian Maritime Administration and Safety Agency (NIMASA) approval to carry out three Public Private Partnership (PPP) Projects.<\/p>\n

This information can be found in a statement made by Mrs. Manji Yarling, the acting head of media and publicity at the Infrastructure Concession Regulatory Commission (ICRC).<\/p>\n

According to Yarling, the projects were expected to generate more than 1.1 billion dollars for the Federal Government during the concession period under the ICRC’s regulatory direction.<\/p>\n

She said the projects included the Eastern Offshore Waste Reception Facility, Central\/Western Offshore Waste Reception Facility, and a Floating Dry Dock.<\/p>\n

Yarling said the projects were approved by FEC following the issuance of a Full Business Case Certificate of Compliance (FBC) by the PPP regulatory body, the ICRC.<\/p>\n

She said the Director-Genera of ICRC, Michael Ohiani issued the FBCs for the Offshore Waste Reception Facilities (OWRF) projects.<\/p>\n

According to her, Ohiani said the move demonstrated the commitment of President Muhammadu Buhari\u2019s administration to the environmental well-being of coastal communities and offshore fishermen.<\/p>\n

\u201cThe essence of the approvals by FEC is for the OWRF to put in place a standard facility for use in Nigeria\u2019s international waters, in compliance with the International Convention for the Prevention of Pollution from Ships (MARPOL) 1973\/1978.\u201d<\/p>\n

Ohiani said the goal of the proposed partnership was to protect the offshore environment and provide a visible deterrent for offshore polluters from a surveillance point of view.<\/p>\n

He said it was also to reduce the current level of pollution to the benefit of offshore fishermen and coastal communities.<\/p>\n

The director-general said the OWRF projects would essentially help keep the seas and oceans clean.<\/p>\n

\u201cEach facility, when completed, would be adequate to fully meet the needs of ships and other installations regularly making use of the facilities, and contributing to the improvement of the marine environment.<\/p>\n

\u201d They will allow for the ultimate disposal and discharge<\/a> of wastes from ships and other installations in an environmentally friendly way,\u201d Ohiani said.<\/p>\n

He said more details on the Eastern OWRF showed that the Design, Finance, Build, Operate, Maintain and Transfer (DFBOMT) PPP model would be adopted with XPO Marine Services Limited as the concessionaire for an initial period of 10 years.<\/p>\n

\u201cThe projected total revenue from Eastern OWRF for the entire concession period due to Federal Government based on revenue sharing ratios is 279.4 million dollars.<\/p>\n

\u201cThe projected total revenue for the entire concession period from the Central and Western zones due to Federal Government, based on the revenue sharing ratios, is 765.2 million dollars.<\/p>\n

\u201cThe concessionaire for the Central and Western OWRF is African Circle Pollution Waste Management Limited and the concession period is also 10 years.\u201d<\/p>\n

He said that also approved by FEC was the management contract to Operate, Maintain and Transfer (OMT) the Floating Dry Dock (FDD) of NIMASA.<\/p>\n

\u201d The FDD is for the repair of cabotage vessels.<\/p>\n

\u201cThe concessionaire, J. Marine Logistics Limited, is to manage the Modular\/Floating Dry Dock for 15 years.<\/p>\n

\u201cTotal revenue accruing to NIMASA for the 15 years concession period is 65.6 million dollars (N27.2 billion).<\/p>\n

When fully implemented, the project is expected to create over 800 direct and indirect jobs.\u201d<\/p>\n

Ohiani said beyond revenue generation, the project was also expected to create jobs, develop capacity and provide maintenance facilities for ships and boats.<\/p>\n

He said FEC also approved a PPP project in Ikeja Lagos, for the Federal Radio Corporation of Nigeria (FRCN) to develop a commercial mixed-use complex.<\/p>\n

Ohiani said that the complex would comprise houses, hotels, recreational facilities as well an office complex.<\/p>\n

\u2018The FRCN PPP project was approved for a concession period of 55 years with expected revenue for the period put at N14.9 billion while the concessionaire is Fish Valley Investment & Property Limited<\/a>. \u201c<\/p>\n","protected":false},"excerpt":{"rendered":"

The Federal Executive Council (FEC) has given the Nigerian Maritime Administration and Safety Agency (NIMASA) approval to carry out three Public Private Partnership (PPP) Projects. This information can be found in a statement made by Mrs. Manji Yarling, the acting head of media and publicity at the Infrastructure Concession Regulatory Commission (ICRC). According to Yarling, […]<\/p>\n","protected":false},"author":9,"featured_media":149823,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"https:\/\/pmnewsnigeria.com\/2022\/12\/23\/fec-approves-3-ppp-projects-for-nimasa-targets-1-1bn-revenue\/","via_name":"","via_url":"","override_template":"0","override":[{"template":"custom","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"single-left","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"floatbottom","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored 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