•Project to generate N28.1bn in 20 yrs
From Idu Jude, Abuja
The Federal Executive Council has approved the concession of the Central Workshop in Ijora to a private sector firm for rehabilitation under the regulatory guidance of the Infrastructure Concession Regulatory Commission (ICRC).
A press statement signed by ICRC’s head, Media and Publicity, Manji Yarling, said the project was the first Public Private Partnership (PPP) project to be approved under the new administration of President Bola Tinubu.
The concession according to Manji, will adopt a Rehabilitate-Operate-Maintain-and Transfer PPP model seeks to upgrade the central workshop to ensure its functions are realised.
“With the Federal Ministry of Works as guarantor, the project which is a Privately Initiated Infrastructure Proposals (PIIP) by Beta Transport Nigeria Limited, is expected to generate NGN 28.1 billion within a 20-year concession period.
“The Central Workshop, Ijora, Lagos was an appendage of the defunct Public Works Department (PWD).
“The PWD was the agency of the colonial government responsible for building and maintaining government buildings and property, roads, rail tracks, bridges, harbours and aerodromes. During the colonial era, the Workshop was used for the maintenance of vehicles, sewage treatment plants, and water supply equipment.
“It also provided technical advice to other departments in the colony. Presently, it is not operating optimally hence, the need to engage private sector participation. With the approval by FEC, the concessionaire will ensure that professional work will be carried out in line with standard guidelines and operating procedures.
“The concessionaire will also ensure that the workshop runs at the highest standard of operational excellence. The activities of BETA will complement the mandate of the Federal Government.” Yarling said.
Engineering Services Department of the Federal Ministry of Works for the fabrication of mechanical tools, products, poles, foundry items amongst others.
“The rehabilitation of this workshop will also provide repair services to most of the run-down trucks and vehicles which would have otherwise been left parked on the roadsides, which will in turn decongest the roads in this area”.