FG Calls For Termination Of OBC, FBC Certification Fees

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The Federal Government has terminated payment of Outline Business Case, OBC, and Full Business Case, FBC, Compliance Certification fees with effect from October 19.

Mr Chidi Izuwah, the Acting Director, Infrastructure Concession Regulatory Commission, ICRC, announced this in a statement in Abuja on Thursday.

Izuwah, the Acting Secretary to the Government of the Federation, directed that all Public Private Partnership, PPP, stakeholders in Ministries, Departments and Agencies, MDAs, of the government should immediately discontinue payment of the fees.

According to him, removal of the OBC and FBC fees will ease doing business on PPP procurement by MDAs in line with the change agenda of President Muhammadu Buhari.

“It is hoped that this will provide the needed impetus to MDAs and other key stakeholders in the development and deployment of an avalanche of PPP projects,’’ he said.

Izuwah explained that the decision by the government was in accordance with the high cost of PPP project preparation in the country.

He said “this follows a feedback from stakeholders and potential investors with respect to the cost and procedure of Public Private Partnership (PPP) project preparation.

“It is in a bid to give additional push to the Ease of Doing Business in Nigeria, policy of the current administration that the ICRC initiated steps aimed at mitigating the bottlenecks that impede the successful conclusion of PPP projects’’.

 

NAN