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The Infrastructure Concession Regulatory Commission (ICRC) and the Ministry of Foreign Affairs have opened talks for the revitalization and commercialization, where possible, of federal government properties abroad.
Acting Director of Media and Publicity Mr. Manji Yarling in a press statement Sunday, said, talk opened last Tuesday between the Minister of Foreign Affairs Geoffrey Onyeama and ICRC DG Michael Ohiani to that effect
According to the statement, partnership, which was at the instance of the Ministry was part of efforts to get alternative funding sources to maintain the nation’s missions abroad and also develop or acquire new properties for newly set up missions.
At the inaugural meeting of the PPP committee, the Minister of Foreign Affairs, Geoffrey Onyeama, observed that funding had become a major problem for the ministry with many of its properties being undeveloped, underutilized or poorly maintained.
Onyeama, said, a visit to some of these facilities abroad depicts failure of the Federal Government of Nigeria. So we have been trying to find some kind of solution to the challenges,
He said that issues which had put the country’s properties abroad in dire situation includes lack of funding, understaff and change in layouts.
Giving an instance, Onyeama said that one of Nigeria’s diplomatic buildings was now in a commercial area with a night club right in front of it.
“We want to turn those prime properties into money making ventures, so we have been looking for partners to come on board.
“ because of these issues, we have to come up with a business model that works and sustainable, we really have to do something about these properties that we own and have an inventory of all our assets.
Giving insights into the move, Amb. Janet Olisa who oversees the Office of the Permanent Secretary in the Ministry said that the ministry wanted to use proceeds from the PPP initiative to maintain its missions and properties abroad.
“We have properties but we don’t want to sell, we need the revenue generated from these properties to take care of the properties that we are using.
“We want to be able to do a PPP arrangement where the ministry brings in the property while the private investor brings the funds to revitalize the properties.
On his part, the Director General of ICRC, Michael Ohiani informed the Ministry that the ICRC was set up to regulate such infrastructure development and management using private sector funding.
“We have reviewed the situation pertaining our properties abroad and taken into consideration the economic loses, diplomatic embarrassment and security risks, we have come up with ideas to bring them to optimal utilization.
