ICRC to seek transaction advisor for Lagos airport road PPP
The Infrastructure Concession Regulatory Commission (ICRC) of Nigeria recently said that it will hire a transaction advisor for the Lagos Airport road rehabilitation PPP.
According to sources, Mr Aminu Diko, the Director General the ICRC stated that N12 billion (US$38 million) of investment would be required to carry out the rehabilitation of the airport road project.
A private investor has already expressed interest in the project, which will consist on expanding the existing project into a eight-lane road and the inclusion of flyovers to facilitate the traffic.
Mr. Aminu Dico, said:
“Public-Private Partnerships (PPPs) are complex and take time to consummate and so there is need to kick-start the process by quickly establishing the project team that would see to the engagement of a transaction adviser to manage the development and procurement stages.
This should go hand in hand with the convening of extensive stakeholders’ consultations to ensure the success of the project in view of resistance to the planned concessions by aviation unions.”
In order to solve this issues, the government of Nigeria has already begun negotiations with Bi-Courtney Aviation Services Ltd, the concessionaire in charge of the Murtala Mohammed Airport Terminal 2.
Country news
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