A REPORT OF THE ACTIVITIES OF THE

INFRASTRUCTURE CONCESSION REGULATORY COMMISSION And

THE AUDITED ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2014

1

His Excellency

Dr. Goodluck Ebele Jonathan, GCFR President Federal Republic of Nigeria

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His Excellency

Arc. Namadi Sambo, GCON Vice President Federal Republic of Nigeria

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His Excellency,

Senator Ken Nnamani, GCON Chairman Infrastructure Concession Regulatory Commission Governing Board

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Mr. Aminu Diko Director General/CEO Infrastructure Concession Regulatory Commission

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5 GOVERNING BOARD MEMBERS

Senator Ken Nnamani, GCON

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Senator Anyim Pius Anyim, GCON Secretary to the Government of the Federation

Mr. Mohammed Bello Adoke, CFR, SAN Attorney General & Minister of Justice

Dr. Ngozi Okonjo Iweala, CFR Minister of Finance & Co-ordinating Minister of the Economy

Mr. Godwin Emefiele, CON Governor of the Central Bank of Nigeria

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6 GOVERNING BOARD MEMBERS

Barr. Comfort Sira Wiwa

Hon. (Engr.) Janet Febisola Adeyemi

Mrs. Yabawa L. Wabi, MNI

Col. Umar Farouk Ahmed (Rtd.)

Hon. Musa Elayo Abdullahi

Chief (Barr.) A.U. Kanu

Mr. Aminu Diko

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Executive Management Committee

Mr. Aminu Diko Director General

Engr. Chidi Izuwah Executive Director, P3RD

Mr. J.A.M Ohiani Head Legal & Governance & Ag. Executive Director CCD

Mr. Chiedu Ndubisi Technical Adviser to the DG & Head Planning & Research

General Management Team

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Mr. Aminu Diko

- Director General

Engr. Chidi C. K. Izuwah

- Executive Director PPP Resource Department

Mr. Mike Joe A. Ohiani

- Ag. Executive Director, Contract Compliance Department

Mr. Chiedu Ndubisi

- Technical Adviser to DG/Head, Planning & Research

Mr. Mohammed A. Bamalli

- Head, Human Resource & Admin

Mr. Hammed Togunde

- Head, Internal Audit

Mr. Kabiru Bamidele

- Head, Procurement

Mr. Jobson Ewalefoh

- Head, Information and Communication Technology

Mr. Desmond Oshenye

- Head, Finance and Accounts

Mr. Emmanuel Onwodi

- Head, Special Projects

Mr. Odili Onu

- Head, Energy & Urban Infrastructure

Dr. Felix Ogbera

- Ag. Head, Monitoring and Compliance

Mrs. Deborah Okafor

- Ag. Head, Media & Publicity

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TABLE OF CONTENTS GLOSSARY OF TERMS ........................................................................................................................... 11 STATEMENT BY THE CHAIRMAN ........................................................................................................... 15 DIRECTOR-GENERAL’S STATEMENT ................................................................................................... 17 EXECUTIVE SUMMARY ....................................................................................................................... 20 SECTION ONE: ROLE AND MANDATE

.............................................................................................23

1.1

Functions and Powers of the ICRC .........................................................................................24

1.2

The Role of the ICRC ...............................................................................................................24

SECTION TWO: INSTITUTIONAL STRUCTURE AND GOVERNANCE

.............................................25

2.1 2.2

Structure and Functions .........................................................................................................26 Executive Management ..........................................................................................................26

2.3

Key Departments ....................................................................................................................26

SECTION THREE: KEY ACTIVITIES IN 2014 3.1

.......................................................................................27

Activities in 2014 ....................................................................................................................28

3.1.1 Pre-Contract Activities ................................................................................................ ...28 3.1.2 Post-Contract Activities ................................................................................................ ..28 3.1.3 Governance and General Activities ...............................................................................29 3.2 Governance and Management ..............................................................................................29 3.2.1 Board Activities ...............................................................................................................29 Executive Management ................................................................................................ 30 3.2.2 3.3 Policy - Related and Strategic Initiatives................................................................................. 30 3.3.1 3.3.2 3.3.3 3.3.4 3.3.5 3.3.6

Hosting of Africa Investor Conference ........................................................................... 30 Establishment of PPP Units in MDAs ............................................................................. 30 Building PPP Networks ................................................................................................... 30 World Bank Adaptable Programme Lending ................................................................ 30 National Integrated Infrastructure Master Plan ........................................................... 30 Capacity Building for MDAs ......................................................................................... 30 3.3.7 Engagement with Embassies & Overseas Development Partners .............................. 31 3.3.8 Other Stakeholder Engagements ................................................................................. 32 3.4 Update on Pre-Contract Regulatory Activities .................................................................... 32 3.4.1 Second Niger Bridge ..................................................................................................... 32 3.4.2 Concession of Onne Port IPP ........................................................................................ 32 3.4.3 Calabar -Kano Gas Pipeline ........................................................................................... 32 3.4.4 Greenfield High- speed Land Railway Lines ................................................................ .. 33 3.4.5 Development of Hydro- Power Plants .......................................................................... 33 2014 ANNUAL REPORT

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3.4.6 3.4.7 3.4.8

Concession of Dadin-Kowa Multi-Purpose Dam ......................................................... 34 Development of Coal to Power .................................................................................... 34 Lekki Deep Seaport ...................................................................................................... 35

3.4.9

Ibom Deep Seaport ...................................................................................................... 35

3.4.10

Abuja Mass Transit Railway ......................................................................................... 35

3.4.11

National Theatre Iganmu, Lagos .................................................................................. 35

3.4.12

Agricultural Value Chain ............................................................................................... 36

3.4.13 3.4.14

Concession of Grain Storage Facilities ........................................................................ 36 Development of Bakolori Irrigation Project ................................................................ 37

3.4.15

Narrow Gauge Railway Concession ............................................................................. 37

3.4.16

Lagos-Iseyin -Kishi-Kaiama Road ................................................................................... 37

3.4.17

Kaiama -Bahana Bobe -Kaoje -Gwabe -Fokku Sokoto Road ........................................... 37

3.4.18

Mabushi, Durumi, Gwarinpa 1 & II, Kado Districts PPP Projects

3.4.19

Kirikiri Port Lighter Terminal I&II ................................................................................. 38

3.4.20

Debt Management Office ............................................................................................. 38

3.4.21

Rehabilitation/Upgrade of the Murtala Mohammed International Airport, Lagos ..... 38

................................ 38

3.4.22 Gombe Container Freight Station ................................................................................ 38 3.4.23 Abuja Medical Mall ...................................................................................................... 39 3.4.24 National Trade and International Business Centre Project ........................................ 39 3.4.25 Nigeria Police Force Peace Keeping Mission: Contingent Owned Equipment ........... 39 3.4.26 Other FMA&RD and FMWR Activities ......................................................................... 39 3.5 Update on Post - Contract Activities..................................................................................... 39 3.5.1 Post -Contract Regulation Activities .............................................................................. 39 3.5.2 Custody of PPP Contracts ............................................................................................. 39 3.5.3 The Port Concessions .................................................................................................... 40 3.5.4 Katampe Urban District Engineering Infrastructure Project ....................................... 41 3.5.5 Inland Container Depot ................................................................................................ 41 3.5.6 Lagos International Trade Fair Complex & Tafawa Balewa Square Complex ..................41 3.5.7 Murtala Muhammed Airport Terminal II Concession ..................................................... 41 3.5.8 3.5.9 3.5.10

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National Identity Management Commission Concession ................................................ 42 Transmission Company of Nigeria .............................................. ................................ ..... 42 Policy and Regulations ................................ ................................ ................................ . 42

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TABLE OF CONTENTS SECTION FOUR: CHALLENGES AND CONSTRAINTS ................................ ................................ ... 4.1 Challenges ................................ ................................ ................................ ................................ .

43 44

4.2 Outstanding Issues ................................ ................................ ................................ ...................

44

SECTION FIVE: FINANCIAL SUMMARY

................................ ................................ ..........................

45

5.1

Finance and Accounts ................................ ................................ ................................ ...........

46

5.2

Internally Generated Revenues ................................ ................................ ...........................

46

SECTION SIX: CONCLUSION & RECOMMENDATIONS

................................ ..............................

47

Appendix I: Nigeria PPP Procurement Process ................................ ................................ ....................

49

Appendix II: PPP Project Pipeline ................................ ................................ ................................ ..........

50

Appendix III: Audited Accounts for the Year Ended 2014 ................................ ................................ .....

58

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GLOSSARY OF TERMS

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AfDB ATC BASL

African Development Bank Audit & Technical Committee Bi-Courtney Aviation Services Limited

AGF

Attorney General of the Federation

APPPN /A3PN

African PPP Network

BCC BCCC BOF

Bi-Courtney Consortium Board Contract Compliance Committee

BPE

Bureau of Public Enterprises

CCD

Contract Compliance Department

CBN

Central Bank of Nigeria

DFID

UK Department for International Development

DFBOT

Design, Finance, Build, Operate & Transfer

DFIs

Development Finance Institutions

DG

Director General

DMO

Debt Management Office

ED

Executive Director

EIA

Environmental Impact Assessment

EMIT

Economic Management Implementation Team

EoI

Expression of Interest

EPC

Engineering, Procurement and Construction

FAAN

Federal Airports Authority of Nigeria

FBC

Full Business Case

FCT

Federal Capital Territory

FCTA

Federal Capital Territory Administration

FEC

Federal Executive Council

FGN

Federal Government of Nigeria

FIRS

Federal Inland Revenue Service

FMA&RD

Federal Ministry Agriculture and Rural Development

FMoA

Federal Ministry of Aviation

FMoF

Federal Ministry of Finance

FMoJ

Federal Ministry of Justice

FMoI

Federal Ministry of Interior

FMoW FMoWR FMoP

Federal Ministry of Works Federal Ministry of Water Resources Federal Ministry of Power

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GLOSSARY OF TERMS

FM ITI

Federal Ministry of Industry, Trade and Investment

FERMA

Federal Road Maintenance Agency

FMoT

Federal Ministry of Transport

FMoH

Federal Ministry of Health

FMLH&UD

Federal Ministry of Lands, Housing & Urban Development

GAT

General Aviation Terminal

GDP

Gross Domestic Product

HSGOC

Heads of State Government Orientation Committee

ICD

Inland Container Depot

ICRC /Commission

Infrastructure Concession Regulatory Commission

ICRC Act ICT

Infrastructure Concession Regulatory Commission (Establishment, Etc) Act 2005 Information and Communications Technology

ICPC

Independent Corrupt Practices Commission

IPP

Independent Power Plant

ITWG

Infrastructure Technical Working Group

LCC

Lekki Concession Company

LITFC

Lagos International Trade Fair Complex

MDA

Ministries, Departments and Agencies

MMA

Murtala Mohammed Airport

MMA2

Murtala Mohammed Domestic Terminal

MoC

Memorandum of Cooperation

M oU

Memorandum of Understanding

MNDA

Ministry of the Niger Delta Affairs

NIAF

Nigerian Infrastructure Advisory Facility

NIMASA

Nigerian Maritime Administration and Safety Agency

NIWA

National Inland Waterway Authority

NEPAD

New Partnership for Africa's Development

NEMT N4P NIMC

National Economic Management Team National Policy on Public Private Partnership National Identity Management Commission

NIIMP

National Integrated Infrastructure Master Plan

NNPC

Nigerian National Petroleum Corporation

NPA

Nigerian Ports Authority

NPPPN

Nigerian PPP Network

NPC

National Planning Commission

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GLOSSARY OF TERMS

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NRC

Nigerian Railway Corporation

NSC

Nigerian Shippers Council

NS IA

Nigerian Sovereign Investment Authority

NTWG

National Technical Working Group

NTIBC

National Trade and International Business Centre

OBC

Outline Business Case

OHCSOF

Office of the Head of the Civil Service of the Federation

O&M

Operations and Maintenance

PDT

Project Delivery Team

PENCOM

National Pension Commission

PSC

Project Steering Committee

PICI

Presidential Infrastructure Champion Initiative

PPP

Public Private Partnership

PTFP

Presidential Task Force on Power

RBDA

River Basin Development Authority

RFP

Request for Proposal

ROT

Rehabilitate, Operate and Transfer

RMAFC

Revenue Mobilization, Allocation and Fiscal Commission

SERVICOM

Service Compact With All Nigerians

SGF

Secretary to the Government of the Federation

SOO

Supply, Operate and Own

TBS

Tafawa Balewa Square

TSGP

Trans-Saharan Gas Pipeline

UNCTAD

United Nations Conference on Trade and Development

VGF

Viability Gap Fund

WBI

World Bank Institute

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Objective

The key strategic objective of the Infrastructure Concession Regulatory Commission (ICRC) is to accelerate investment in national infrastructure through private sector funding, by assisting the Federal Government of Nigeria and its Ministries, Departments, and Agencies (MDA) to implement and establish effective Public Private Partnership (PPP) procurement.

ICRC Act 2005 The ICRC Act, 2005 bestows on the Commission functions and powers to: Provide general policy guidelines, rules and regulations; Take custody of every concession agreement; Monitor and inspect PPP projects; and Ensure efficient execution of any concession agreement or contract entered into by the Federal Government.

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CHAIRMAN'S STATEMENT

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Governance Structure of the ICRC as at 31st December, 2014

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EXECUTIVE SUMMARY

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Breakdown of PPP Contracts by Sectors

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SECTION ONE: ROLE AND MANDATE

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The functions, powers and roles of the ICRC are derived from the Act establishing the Commission.

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SECTION TWO: INSTITUTIONAL STRUCTURE AND GOVERNANCE

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SECTION THREE: KEY ACTIVITIES IN 2014

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Figure 1 : Board members’ study tour to South Africa.

Figure 2 : DG Mr. Aminu Diko, Chairman Sen. Ken Nnamani, Hon. Janet Adeyemi during a visit to Akwa Ibom State Government.

Figure 3 : Board visit to Arc. Mike Onolememen (L-R , 4th person), Minister of Works.

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Figure 4 : DG Aminu Diko making a presentation to Australian High Commissioner to Nigeria, Mr. Jon Richardson during the latter’s visit to the Commission

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1. 2.

Figure 6: Aerial view of Onne Port

3. 4. 5. 6. 7. 8. 9. 10. 11. 12.

Figure 5 : Niger Bridge at Onitsha/Asaba

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Figure 7 : Proposed Calabar-Kano Gas Pipeline Route

Figure 8: Ogun-Osun River Basin

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Figure 10: Abandoned Enugu Coal Mine

Figure 9: Dadin Kowa Multi-purpose Dam, Gombe 2014 ANNUAL REPORT

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Figure 11 : Architectural Design of Ibaka Port

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Figure 12: Silo Complex

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Figure 13 : NRC Trains

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BREAKDOWN OF PPP CONTRACTS BY SECTORS

Figure 15 : Lagos Port Complex

Figure 14:

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Figure 16 : Infrastructure development at Katampe, Abuja

Figure 17: Tafawa Balewa Square, Lagos

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Figure 18: Lagos International Trade Fair Complex

Figure 19 : DG Mr. Aminu Diko and some participants at the pre 4th National PPP Stakeholders Forum Training

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SECTION FOUR: CHALLENGES AND CONSTRAINTS

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SECTION FIVE: FINANCIAL SUMMARY

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SECTION SIX: CONCLUSION & RECOMMENDATIONS

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49 APPENDIX I: NIGERIA PPP PROCUREMENT PROCESS

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50 APPENDIX II: PPP PROJECT PIPELINE

2014 PPP Pipeline Project List S/N PHASE AND PROJECT AND DESCRIPTION PROPOSED PPP MODEL 1. PPP High Voltage Transmission For TCN

2.

3.

Refurbishment/Replacement where necessary of transmission assets measuring approximately 12,000 km of 330kv/132kv & 132kv/33kv primary/secondary substations. These projects are located nationwide. PPP High Voltage Transmission For TCN Completion of 60 ongoing 330kv & 132kv transmission lines and 330kv/132kv and 132kv/33kv substation projects. These projects are located nationwide. PPP High Voltage Transmission For TCN New projects for 10GW Grid System Capacity consisting of 61 new 330kv &132kv lines and 330kv/132kv & 132kv/33kv primary/ secondary substations together with multiple reactive compensation projects. These projects are located in Kainji, Birnin Kebbi, Gusau, Lagos, Jos, Gombe, Damaturu, Awka, Ugwuaji, Zungeru, & Kaduna.

MDA

Build transfer(BT) Transmission Company of Nigeria (TCN)

Development/ Procurement

Build Transfer (BT)

Transmission Company of Nigeria (TCN)

Build Transfer (BT), Build Own Transfer (BOT), Build Own Operate Transfer (BOOT) Build Own Operate (BOO).

Transmission Company of Nigeria (TCN)

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4.

PPP High Voltage Transmission For TCN

5.

6.

7.

New projects for 13 GW Grid System Capacity consisting of 40 new 330kv & 132kv lines and 330kv/132kv &132kv/33kv primary/ secondary substations together with multiple reactive compensation projects. These projects are located In Makurdi, Apir, North Bank, Igando, Ugbegu, Zungeru, & Kaduna. PPP High Voltage Transmission For TCN

Build Transfer (BT), Build Own Transfer (BOT), Build Own Operate Transfer (BOOT) Build Own Operate (BOO).

Transmission Company of Nigeria (TCN)

New projects for 16 GW Grid System Capacity consisting of 32 new 330kv & 132kv lines and 330kv/132kv &132kv/33kv primary/ secondary substations together with multiple reactive compensation projects. These projects are located in Kano, Dutse, Damaturu, Jos, Samenaka, Asoada &Degema. PPP High Voltage Transmission For TCN

Build Transfer (BT), Build Own Transfer (BOT), Build Own Operate Transfer (BOOT) Build Own Operate (BOO).

Transmission Company of Nigeria (TCN)

New projects for 20 GW Grid System Capacity consisting of 33 new 330kv & 132kv lines and 330kv/132kv &132kv/33kv primary/ secondary substations together with multiple reactive compensation projects. These projects are located in Mambila, Makurdi, Birnin Kebbi, Argungu, & Calabar. Concession Of The Multi-Purpose Components Of The Gurara 1 Dam, Kaduna State.

Build Transfer (BT), Build Own Transfer (BOT), Build Own Operate Transfer (BOOT) Build Own Operate (BOO).

Transmission Company of Nigeria (TCN)

Development Phase, Operate And Maintain.

Federal Ministry of Water Resources

This consists the Operation and Maintenance of about 1000 Ha irrigation infrastructure for commercial agriculture.

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8.

Bakalori Irrigation Project Commercial Farming on 23,000Ha through PPP.

9.

11.

Federal Ministry of Water Resources

Development Phase.

Federal Ministry of Water Resources

Development Phase.

Federal Ministry of Water Resources

Bakalori Dam is located in Zamfara State. Jibiya Irrigation Project Commercial Farming on 3000Ha of Farmland through PPP.

10.

Development Phase, Rehabilitate, Operate And Maintain.

Jibiya Dam is located in Katsina State Middle Rima Valley Irrigation Project Commercial Farming on 1,118Ha of Farmland through PPP. Dasin Hausa Dam

Dasin Hausa is a dam project for the Benue River about 30km upstream Development Phase. fro m the city of Yola. The Federal Government intends to develop 150mw of electricity from this dam. 12. Elele Prison Farm

13.

14

15.

16.

Commercial Farming on 2,900Ha of Farmland through PPP. Tede Dam Greenfield project with potentials for irrigation and hydropower. Peremabiri Irrigation and Land reclamation

Development Phase.

Federal Ministry of Water Resources

Development Phase.

Federal Ministry of Water Resources

Development Phase.

Federal Ministry of Water Resources

Development Phase

Federal Ministry of Water Resources

Development Phase

Federal Ministry of Lands, Housing and Urban Development.

Commercial Farming on 1280Ha of Farmland through PPP. Owena Multi-purpose Dam Water supply Provision of water treatment and reticulation via PPP Development of the Marina Car Park and the Marina Water front

Federal Ministry of Water Resources

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53 17. Redevelopment of the Ministry’s Land on St. Gregory Road, Onikan- Development Phase. Ikoyi, Lagos 18. Development of Ministry’s Land behind the National Stadium, Development Phase. Surulere, Lagos. 19. Reconstruction, Rehabilitation and Procurement Phase Expansion Of Lagos- Ibadan Dual Reconstruction, Carriageway Rehabilitation and Expansion and Redevelopment of Expansion is in progress the 127km Lagos to Ibadan via Traditional Expressway: Procurement. Additional private sector finance required for completion, operation & maintenance. 20. Construction of a Bridge over River Development Phase. Niger at Nupeko, Niger State 21. Bodo Bonny road with a bridge across Opobo channel to the Island Development Phase of Bonny in Rivers state 22. Keffi-Akwanga-Lafia-Makurdi Road Development Phase (Nassarrawa and Benue States) 23. Lokoja- Ajakuta-Ogbulafo- 9thMile Development Phase Road 24. Akwanga-Jos Road Development Phase Enugu(9thMile)-

Dualisation of Otukpa-Lokoja

26. Phase 1: 2ndLagos outer ring Road; Tin Can Island-Igando-Lagos/Otta road interchange-Lagos/Ibadan expressway 27. Phase 2: 2ndLagos outer ring Road; Lekki-Ikorodu Shagamu/Benin Expressway. 28. Abuja-Kaduna- Kano Dual Carriage way 29. Lagos-Badagry-Seme Border Expressway |

Federal Ministry of Works

Federal Ministry of Works Federal Ministry of Works Federal Ministry of Works Federal Ministry of Works Federal Ministry of Works

Development Phase

25.

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Federal Ministry of Lands, Housing and Urban Development Federal Ministry of Lands, Housing and Urban Development

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Build Operate Transfer basis

Federal Ministry of Works

Development Phase

Federal Ministry of Works

Development Phase

Federal Ministry of Works

Development Phase

Federal Ministry of Works

Development Phase

Federal Ministry of Works

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Ibom Deep Seaport An integrated, multi-purpose deep sea port in Akwa Ibom State

33.

Inland Container Depot, Gombe

34.

Dry Port in Gombe State Greenfield High speed Land Railway Lines across Nigeria

Development Phase

Development Phase

·

·

·

·

·

35.

36.

Lagos –Shagamu- Ijebu Ode- OreBenin City (300km) (standard gauge) Benin-Agbor-Ogwashi UkuAsaba- Onitsha –Nnewi- OwerriAba with additional line from Onitsha-Enugu- Abakaliki (500km) (standard gauge) Ajaokuta(Eganyi)-ObajanaJakura-Baro-Abuja with additional line from AjaokutaOtukpo (533km) (standard gauge) Zaria-Funtua- Tsafe - GusauKaura- Namoda-Sokoto-IllelaBirnin Kebbi (520Km) (standard gauge) Lagos –Ibadan- Oshogbo-BaroAbuja (615KM) (high speed).

Development Phase

Federal Ministry of Transport

Development Phase

Federal Ministry of Trade & Industry (Small and Medium Enterprises Development Agency)

Development Phase

Fed. Ministry of Trade and Investment (Tafawa Balewa Square Management Board)

Development of 23 Industrial Development Centres Across Nigeria Redevelopment of 23 Industrial Development Centres (IDCs) into Industrial Clusters National Trade and International Business Centre Project. This project is a twenty-five (25) storey brown field project in Lagos. The facility built around 1959 occupies approximately 8,100 sq. meters with a parking lot of 2,650 sq. meters. The building is planned

Federal Ministry of Transport, Nigerian Ports Authority and Akwa Ibom State Government Federal Ministry of Transport and Nigerian Shipper’s Council

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55 37. National Stadium Lagos Renewal of Facilities & Management of the national stadia by the private sector on PPP basis 38. National Stadium Athletes Hostel, Abuja

Development Phase

National Sports Commission

Development Phase

National Sports Commission

Completion and management of Athletes Hostel 39. Calabar – Kano Gas Pipeline The Nigerian Gas Master Plan proposes major expansion of gas infrastructure to increase gas supply Development Phase and delivery. Strategic pipelines will link the eastern and western gas networks and deliver gas to northern Nigeria 40. National Theatre Masterplan Complementary Facilities Realization Four Star Hotel, MultiDevelopment Phase level Car Park, High Rise Office Building, Theme/Aquatic Park and Theatre Restoration 41. Abuja Medical Mall Provision of World Class Medical Facilities and Services 42. Development Of Mechanic Villages

43

The project is aimed at developing the automotive value chain via the provision of 6 pilot modern mechanic villages in the nation’s 6 geo political zones. Establishment of a Multimedia Centre in the FCT

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Federal Ministry of Culture, Tourism and National Orientation/National Theatre Management

Development Phase

Federal Ministry of Health

Development Phase

Fed. Ministry of Trade and Investment (National Automotive Council)

A one stop shop for film production in the FCT, consisting of studio, sound stage, post Development Phase production/editing facilities, a world class Cineplex for screening of films, theme parks, five star hotel, recreational facilities, corporate office, resource persons guest

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Federal Ministry of Petroleum Resources/ NNPC

Nigerian Film Corporation

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Development of Film Screening Theatres A total of 300 – 400 community based screening centres will be developed in the 36 States of the federation and Abuja. These include furnishing and equipment – each will have four screening rooms, restaurant, refreshment area, concessional areas film sales and distribution offices covering an average of 2 - 4 plots, including parking and security. Upgrade of the Corporation’s Lagos Office Studio and Mini Theatre for Commercial Purposes. The studio and theatre at the Lagos office will be up graded along with recreational facilities, a guest house and other auxiliary services. The Establishment and Take -off of the Film Industry Complex

Development Phase

Nigerian Film Corporation

Development Phase

Nigerian Film Corporation

The complex will be situated at Shere Hills Jos on the Corporation’s Development Phase permanent site which measures 160 hectares with C of O since 1983. It will serve as the Corporate Head office of the NFC. Upgrading of Auditorium to International Screening Standard at NFI The present NFI auditorium will be up graded to a screening theatre for the purpose of commercial screening. Establishment of 3 Film Villages at Miango Plateau State for which 400 hectares of land have been set aside at Akwa Ibom and Ibadan.

Nigerian Film Corporation

Development Phase

Nigerian Film Corporation

Development Phase

Nigerian Film Corporation

These are ‘one stop’ film destinations of the highest international standards with all the

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Establishment of 3 Film Villages at Miango Plateau State for which 400 hectares of land have been set aside at Akwa Ibom and Ibadan. These are ‘one stop’ film destinations of the highest international standards with all the offerings of such facilities including; studios, sound stages, post production facilities, theme parks, hotels, cineplex and recreational facilities.

Development Phase

Nigerian Film Corporation

Further information on the PPP projects listed in this publication may be obtained from the respective MDAs. Please note that both 2013 and 2014 PPP Projects Pipeline lists can be viewed on the ICRC Website: www.icrc.gov.ng

Signed Aminu Diko Director-General, ICRC

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58 APPENDIX III: AUDITED ACCOUNTS FOR ENDED YEAR 2014

INFRASTRUCTURE CONCESSION REGULATORY COMMISSION ABUJA

FINANCIAL STATEMENTS FOR THE YEAR ENDED ENDED DECEMBER 31, 2014

PKF PROFESSIONAL SERVICES [CHARTERED ACCOUNTANTS] ABUJA, NIGERIA

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CONTENTS

Page(s)

Governing Board Members



60

Management and Professional Advisers



61

Financial Highlights









62

ICRC Mandate









63

Report of the Auditors









Accounting Policies









65

Balance Sheet











66

Income and Expenditure Account





67

Cash Flow Statement





68





69-70











Notes to the Financial Statements Receipts and Payments



Supplementary Statement of actual

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60

LIST OF THE GOVERNING BOARD MEMBERS

Senator Anyim Pius Anyim, GCON (SGF)

Member

Dr. Ngozi Okonjo Iweala, CFR,(CME/HMF)

Member

Barr. Comfort Sira Wiwa (South -South)

Member

Hajiya Yabawa L. Wabi (North-East)

Member

Chief (Barr.) A.U. Kanu (South -East)

Member

Mr. Aminu Diko (DG, ICRC)

Member/Secretary

2014 ANNUAL REPORT

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ICRC

61

ICRC

|

2014 ANNUAL REPORT

62

FINANCIAL HIGHLIGHTS FOR THE YEAR ENDED DECEMBER 31, 2014

2014 N'000

2013 N'000

PERSONNEL AND OVERHEAD SUBVENTION

776,570

811,837

DEFICIT OF INCOME OVER EXPENDITURE

(30,508)

(62,538)

CAPITAL EXPENDITURE

17,070

34,647

1,525,021

1,543,753

NET ASSE TS

CAPITAL SUBVENTION

19,523

33,406

2014 ANNUAL REPORT

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ICRC

63

ICRC MANDATE

ICRC

|

2014 ANNUAL REPORT

64

2014 ANNUAL REPORT

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ICRC

65

ACCOUNTING POLICIES

ICRC

|

2014 ANNUAL REPORT

66

BALANCE SHEET AS AT DECEMBER 31, 2014

The Accounting Policies on page 65 and notes on pages 69 to 70 form part of these Financial Statements. Auditors' report on page 64.

2014 ANNUAL REPORT

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ICRC

67

INCOME AND EXPENDITURE ACCOUNT

ICRC

|

AS AT DECEMBER 31, 2014

2014 ANNUAL REPORT

68

2014 ANNUAL REPORT

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ICRC

69

ICRC

|

2014 ANNUAL REPORT

70

2014 ANNUAL REPORT

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ICRC

71

ICRC

|

2014 ANNUAL REPORT

72

2014 ANNUAL REPORT

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ICRC

2014-Annual-Reports.pdf

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