The Minister of Works and Housing, Mr. Babatunde Fashola, said on Tuesday the Infrastructure Concession Regulatory Commission (ICRC) would facilitate the funding of regional roads in West Africa.
The minister disclosed this at a meeting with the representatives of the Commission led by its Director-General, Mr. Chidi Izuwah, in Abuja.
Fashola, according to a statement issued by the Senior Information Officer in the ministry, Mr. Henry David, said the initiative was for the development of the West African regional transport and logistics infrastructure.
He said the collaboration would lead to the growth and prosperity of the region and establish a high-level partnership of mutual benefit.
Fashola was optimistic that the ICRC would come up with a think-tank for the implementation of resilient road infrastructure, funding and financing of roads.
The minister said: “There is improved recognition for Ease of Doing Business in Nigeria as evidenced by the latest 2019 global ranking by the World Bank that ranked Nigeria as one of the 10 most improved countries on Ease of Doing Business.
“Government is determined to continually improve on the performance to encourage enterprise and productivity.
“Meanwhile, the government is deploying several incentives to encourage private sector participation in infrastructure development and one of them is the Tax Credit initiative.
“This initiative is already yielding positive impact in the construction of the Bonny Bridge by Nigeria Liquefied Natural Gas (NLNG), the Apapa Oworonsoki Road in Lagos and Kabba Road in Kogi State by Dangote Group of Companies.”
Fashola reiterated the government’s commitment to entrench Public Private Participation for speedy development of the nation’s infrastructure.