The Federal Government is considering private sector funding through Public Private Partnerships (PPPs) for key projects in the Ministry of Innovation, Science, and Technology, according to a statement from Ifeanyi Nwoko, Acting Head of Media and Publicity at the Infrastructure Concession Regulatory Commission (ICRC).
Jobson Ewalefoh, Director-General (D-G) of the ICRC, discussed this initiative during a courtesy visit to Uche Nnaji, the Minister of Innovation, Science, and Technology. The meeting aimed to strengthen collaboration between the two government bodies to leverage PPPs for technological and economic advancement.
Ewalefoh emphasized the crucial role of science and technology in driving economic growth, noting that other nations have harnessed these sectors to boost their economies. “We want to explore how to deepen the use of science and technology to advance our country,” he said.
The ICRC is already collaborating with some agencies under the ministry and is seeking to attract further private sector investments for key projects. Some private companies have expressed interest in entering PPP arrangements with the ministry.
Nnaji welcomed the initiative, commending the D-G’s extensive experience and highlighting the ministry’s role as a key driver of economic growth. He also mentioned the approval of a $1.5 billion methanol production project, which is expected to attract significant foreign investment.
Nnaji stressed the importance of processing raw materials domestically before export and noted plans to explore green hydrogen production. He expressed confidence in the ministry’s partnership with the ICRC for successful project execution, particularly in the methanol initiative.
Crdit: NAN (Text Excluding Headline)
