Disclosure of PPP Contract Information In line with the global best practice and in conformity with the Freedom of Information Act 2011, the Governing Board of the Infrastructure Concession Regulatory Commission (ICRC), after extensive stakeholders’ consultations, has approved the disclosure, to the general public, of the salient features of all Public Private Partnership (PPP) contract agreements (under the custody of the Commission) entered into between private entities and Ministries, Departments and Agencies (MDA) on behalf of the Federal Government of Nigeria. The initiative was designed to ensure that all non-confidential information relating to a PPP contract are made available and easily accessible to members of the public who may have a need for such information. The objective of the disclosure is to open up governance and entrench accountability, integrity and transparency in PPP transactions in Nigeria. The disclosure is expected to bring improvement and engender confidence in PPP contract transactions in Nigeria. It is also hoped that Nigerians, through the disclosure, will be better informed on the salient features of PPP contracts, such as, agreed standards of service, scope of work, parties to the contract, general overview of the project, social and economic benefits of the project, as well as risk allocation and the actual performance levels achieved. Also, disclosure of performance indicators with their targeted levels can help put pressure on providers to perform well. It is hoped that as users get more educated about the PPP contracts through regular disclosure of information, the provision of infrastructure services using PPP procurement methodology would be enhanced and gain greater acceptance in the country. No doubt, disclosure of PPP contract information will place responsibility on the contracting authority to ensure that value for money is achieved throughout the life of the contract and services are performed at the levels agreed to in the

contract. It will also place a greater responsibility on public authorities to ensure full implementation of the contract. In addition, the decision to proactively disclose contract information will help the Commission and MDA to streamline their information systems and spend more effort and time in collecting, organizing and managing data. The disclosure would also have a positive effect on the bidding process for future projects as it has the potential of increasing the confidence of the private sector which would lead to greater participation. The salient information on various PPP contracts under the custody of the Commission would therefore be published from time to time on the ICRC website (www.icrc.gov.ng).