The Federal Government and Messrs BETA Transport Nigeria Ltd. are currently negotiating a public-private partnership g(PPP) deal concerning the rehabilitation and management of the Central Workshop in Ijora, Lagos.
This follows the formal expression of interest from Messrs BETA Transport Nigeria Ltd. to invest in the project as a concessionaire, as stated in a statement on the Ministry of Works website.
On Tuesday, Minister of Works David Umahi met with Nana Fatima Paturel, Director of BETA Transport Nigeria Ltd., and Ugwu-Chima Nnennaya (Mrs), head of the Public-Private Partnership unit at the Federal Ministry of Works, for a concession review session.
During the meeting, Umahi urged Messrs BETA Transport Nigeria Ltd. to prioritize investment in technologies that promote the highest construction standards, should they be approved as the concessionaires for the rehabilitation of Central Workshop Ijora.
Umahi also stressed how crucial it is for the Federal Government to approve the concession of Central Workshop Ijora, Lagos.
He believes that if it’s fully repaired and used effectively, it will create jobs and train Nigerian youths, artisans, and craftsmen, filling the gap in the skills needed for the construction and manufacturing sectors.
More insights
- After reviewing the report on finalizing the concession agreement with Messrs BETA Transport Nigeria Ltd, Umahi questioned the strength of the negotiation process that resulted in the financial close.
- As a result, the Minister assembled a five-member committee to review the negotiation outcomes and propose necessary recommendations to ensure maximum value for the federal government.
- The committee comprises the Chairman, serving as the Director of Highway Construction and Rehabilitation, and the Secretary, holding the position of Head of Public Private Partnership. Additionally, it includes the Director of Highway Planning & Development, the Director of Engineering Services, and the Director of Legal Services.
- In response, the committee’s Chairman reassured the Minister that they would swiftly expedite the assigned task and promptly deliver results.