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FG Launches Contract Monitoring Website

The Federal Government says it is initiating a contract disclosure website to improve transparency and accountability in contracts entered into by public and private enterprises in the country.

Mr Chidi Izuwah, the acting Director-General, Infrastructure Concession and Regulatory Commission (ICRC), said this in Abuja at a Public Private Partnership (PPP) training workshop organised by the World Bank.

Izuwah said that there were currently 57 ongoing PPP projects entered into by the Federal Government, cutting across all sectors and 77 pipeline projects which the public might not know.

According him, the Website was set to launch at the end of August and that all Federal Government’s Ministries, Agencies and Departments were expected to disclose fully all their PPP contracts.

“This disclosure initiative is designed to ensure that all non-confidential information relating to PPP contracts, both pre and post contract information is made available and easily accessible to members of the public.

“The disclosure is expected to bring improvement and engender confidence in PPP contract transactions in Nigeria
“It is also hoped that Nigerians, through the disclosure, will be better educated and informed on the salient features of PPP contracts.

“This includes agreed standards of service, scope of work, parties to the contract, general overview of the project, social and economic benefits of the project, as well as risk allocation and the actual performance levels achieved,’’ he said.

Izuwah said that the portal was not just directed for local use, but would also serve to encourage foreign direct investments into the country.