Jonathan receives ICRC annual report

PRESIDENTGoodluckJonathan in Abuja, on Tuesday, received the annual report of the Infrastructure Concession Regulatory Commission (ICRC), led by Chief Ernest Shonekan, with a call on the commission to ensure that investors make reasonable profits from the infrastructure concess-ioned to them.Receiving Shonekan and other members of the commission in the Presidential Villa, on Tuesday, he commended the commission for undertaking a review of concession agreements reached before the commission's establishment, to ensure that they conformed with the national policy on public-private partnership.Jonathan said while it should be recognised that investors who entered into concession agreements with government expected to make profit, the ICRC and relevant government agencies must also ensure that such profits were not made through the exploitation of government and the people of Nigeria.He directed the ICRC and other relevant government ministries, departments and agencies to expedite action on efforts to resolve difficulties in the implementation of concession agreements, especially that of the Lagos-Ibadan Expressway.According to the president, all issues hindering the implementation of the agreement needed to be resolved, because of the critical importance of the expressway in Nigeria's road transportation network.He also directed that arrangements be made for the ICRC to make a full presentation on its mandate and work to the Federal Executive Council (FEC), to ensure there was effective coordination and cooperation between the commission and agencies in the implementation of concession agreements.In his remark, Chief Shonekan noted that the ICRC had moved from the realms of conceptualisation to the process of catalysing the delivery of public-private partnership projects.
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