Federal Republic of Nigeria

INFRASTRUCTURE CONCESSION
REGULATORY COMMISSION
(ESTABLISHMENT, ETC)
ACT, 2005
 Federal Republic of Nigeria

INFRASTRUCTURE CONCESSION
REGULATORY COMMISSION
(ESTABLISHMENT, ETC)
ACT, 2005
INFRASTRUCTURE CONCESSION REGULATORY COMMISSION
(ESTABLISHMENT, ETC) ACT, 2005

ARRANGEMENT OF PARTS

PART1: PRIVATE SECTOR PARTICIPATION

IN FEDERAL INFRASTRUCTURE
1. Conduct with private sector for the construction, maintenance of federal
infrastructure, etc
2. Priority projects
3. Guarantee on concession agreement
4. Competitive public bidding for projects and contracts
5. Circumstances where competitive bidding for contracts may not be
necessary
6. Duration of concession
7. Recovery of investment, etc.
8. Authentication of project cost
9. Establishment of special account etc.
10. Power to inspect
11. Arbitrary variation of agreements
12. Supervision of project under concession
13. Right of way, etc.

PART II: ESTABLISHMENT OF THE INFRASTRUCTURE CON-

CESSION REGULATORY COMMISSION, ETC

14. The establishment of the Infrastructure Concession Regulatory

Commission, etc.
15. Establishment of the Governing Board for the Commission.
16. Tenure of office
17. Cessation of membership
18. Emolument, etc of members

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PART III: FUNCTIONS AND POWERS OF THE COMMISSION
19. Powers of the Commission
20. Functions of the Commission

PART IV: STAFF OF THE COMMISSION

21. Director General of the Commission
22. Other staff of the Commission
23. Pension Reform Act 2004

PART V: FINANCIAL PROVISIONS

24. Funds of the Commission

25. Expenditure of the Commission
26. Annual estimates and accounts
27. Annual reports
28. Power to accept gifts

PART VI: LEGAL PROCEEDINGS

29. Limitation of suits against the Commission, etc Cap 379 LFN
30. Service documents
31. Restriction on execution against property of the Commission
32. Indemnity of officers

PART VII: MISCELLANEOUS PROVISIONS

33. Directives by the President, etc.

34. Power to make regulations
35. Secrecy
36. Interpretation
37. Short title

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AN ACT TO PROVIDE FOR
THE ESTABLISHMENT OF THE
INFRASTRUCTURE CONCESSION
REGULATORY COMMISSION, AND FOR
RELATED MATTERS
Commencement
10th November, 2005
ENACTED by the National Assembly of the
Federal Republic of Nigeria.

PART I - PRIVATE SECTOR PARTICIPATION

IN FEDERAL INFRASTRUCTURE

1. - (1) As from the commencement of this Act, any Conduct with private sec-
Federal Government Ministry, Agency, tor for the construction,
Corporation or body involved in the financing, maintenance of federal
construction, operation or maintenance of infrastructure, etc
infrastructure, by whatever name called, may
enter into a contact with or grant concession
to any duly pre-qualified project proponent in
the private sector for the financing,
construction, operation or maintenance of
any infrastructure that is financially viable or
any development facility of the Federal
Government in accordance with the provisions
of this Act.

(2)This Act applies to investment and

Priority projects
development projects relating to any
infrastructure of any Federal Government
Ministry, Agency, Corporation or body.

2. - (1) Every Federal Government Ministry, Agency,

Corporation or body shall prioritize its
infrastructure projects and such priority projects
may be qualified for concession under this Act.

(2) The projects mentioned in Subsection (1) of this

Section shall be submitted to the Federal
Executive Council for approval on the
recommendation of the relevant Sector,
Ministry or Agency prior to entering into any
contract under Section 1 of this Act.

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 (3) In entering into any contract or granting
any concession under Section 1 of this Act,
the Federal Government Ministry, Agency,
Corporation or body shall ensure that the
project proponent possesses the financial
capacity, relevant expertise and experience in
undertaking such infrastructure development
or maintenance.

(4) The Commission established under Section 14

of this Act shall publish, in the Federal
Gazette and in at least three national newspapers
having wide circulation, the list of projects
eligible for contract for the financing,
construction, operation or maintenance of any
infrastructure under this Act.

3. No Federal Government Ministry, Agency, Guarantee

Corporation or body shall give any guarantee, on concession
agreement
letter of comfort or undertaking in respect
of any concession agreement made pursuant
to this Act, except with the approval of the
Federal Executive Council.

4. - (1) Upon an approval for any project or Competitive

public bidding
contract for financing, construction,
for projects and
operation or maintenance of any infrastructure contracts
or development project under this Act, the
Federal Government Ministry, Agency,
Corporation or body concerned shall, by
publication in at least three national
newspapers having wide circulation in Nigeria,
and such other means of circulation, invite
open competitive public bid for such project
or contract approved under this Act.

(2) With respect to projects under this Act, the

concession contract shall be awarded to the
bidder who, having satisfied the prequalification
criteria, submits the most technically and
economically comprehensive bid.

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 (3) Where a consortium participates in a bid
under this Section, there shall be proof by the
consortium that all its members shall be bound
jointly and severally under the contract and the
withdrawal of any member of the consortium
before or during the implementation of the
project may be a ground for review or possible
cancellation of the contract.

5. Notwithstanding Section 4 of this Act, and if Circumstances

after advertisement in accordance with Section 4 where competitive
of this Act bidding for
contracts may not
be necessary
(1) Only one contractor or project proponent
applied or submited a bid or proposal, or

(2) Only one contractor or project proponent meet

the prequalification requirements,

the Ministry, Agency, Corporation, body may under

take direct negotiation without competitive bidding
for any contract to be entered into pursuant to
Section 1 of this Act.

6. The duration of any concession shall be as may Duration of

be specified in the agreement or contract concession
governing the concession.

7. - (1) Any project proponent or contractor who Recovery of

enters into any contract for financing, investment, etc
construction, operation or maintenance may,
subject to the provision of the concession
contract, recover his investments.

(2) Notwithstanding Subsection (1) of this section,

the project proponent or contractor shall:

(a) undertake appropriate insurance policy on

the concession with an insurance Company
approved by the National insurance
Commission; and

(b) undertake the maintenance and repairs of the

infrastructure or facility during the subsistence
of the contract.
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 (3) Subject to Subsection (4) of this section, the
amount expended by any project proponent or
contractor who enters into any contract for
financing, construction, operation or
maintenance under any concession under this
Act may be repaid by the relevant Ministry,
Agency, Corporation, or body to such
proponent or contractor, by way of
amortisation payments.

(4) Any contractor whom any concession has been

granted under this Act shall make payment to
the Federal Government, of such sum and at
such intervals, from the proceeds realised from
the implementation of the concession as may
be provided in the concession contract or
agreement.

8 Project cost shall be duly authenticated by the Authentication of

relevant Ministry or Government department project cost
and relevant qualified profession to
determine correctly the amount to be repaid
by amortisation.

9. There shall be a special concession account into Establishment of

which shall be credited money accruing to the special account,
etc.
Government and from which shall be defrayed
monies to be paid in respect of the concession
scheme.

10. The Commission and Federal Government Power to inspect

Ministry, Agency, Corporation or body shall
have the power at any reasonable hour during
the day time to enter upon and inspect any
land or asset comprised in any concession
granted or contract executed pursuant to this
Act for the construction or erection of any
infrastructure project and it shall be the duty
of the project proponent, the contractor or an
yone acting on its behalf to permit and give
free access to enter and inspect.

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11. No agreement reached in respect of this Act Arbitrary variation
of agreements
shall be arbitrarily suspended, stopped, cancelled
or changed except in accordance with the
provisions of this Act.

12. Subject to the provision of this Act, the relevant Supervision of

Federal Government Ministry, Agency project under
concession
Corporation or body shall supervise the project in
respect of which concession has been granted
by it under this Act.

13. Every contractor to whom any concession has Right of way, etc.
been granted under this Act shall have a right of
way or easement in respect of any land or
property near to or bordering the project site or
facility as may be reasonably necessary for the
proper implementation of the project under this
Act.

PART II - ESTABLISHMENT OF THE

INFRASTRUCTURE CONCESSION
REGULATION COMMISSION, ETC

14. - (1) There is established a body to be known as

the Infrastructure Concession Regulatory
Commission (in this Act referred to as “the
Commission)”

(2) The Commission:

a. shall be a body corporate with perpetual

succession and a common seal;

b. may sue or be sued in its corporate name; and

c. may acquire, hold or dispose of any property,

movable or immovable for the purpose of
carrying out any of its functions under this Act.

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 (3) The headquarters of the Commission shall be
located in the Federal Capital Territory, Abuja.

15. - (1) There is established for the Commission, a Establishment of

Governing Board (in this Act, referred to as “the the Governing
Board for the
Board”) which shall have overall control of the Commission
Commission.

(2) The Board consists of-

a. a part time Chairman;

b. the Attorney-General of the Federation;

c. the Minister of Finance;

d. the Secretary to the Government of the

Federation;

e. the Governor of the Central Bank of

Nigeria;

f. one person each from the six geopolitical
zones of Nigeria who shall each have cognate
experience and expertise in law, business
administration, engineering, economics or
public administration and two of whom
shall be women; and

g. the Director General of the commission.

(3) The Chairman and members of the

Commission, other than ex-officio members,
shall be appointed by the President subject to
confirmation by the Senate.

(4) The supplementary provisions set out in the Schedule

schedule to this Act shall have effect with
respect to the proceedings of the Board and
the other matters mentioned therein.

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16. The Chairman and other members of the Tenure of office
Commission, other than ex-officio members,
shall each hold office-

(1) for a term of 4 years in the first instance and

may be re-appointed for a further term of 4
years; and

(2) on such terms and conditions as may be

specified in his letter of appointment.

17. - (1) Notwithstanding the provision of Section 15 Cessation of

of this Act, a member of the Board shall cease to membership

hold office as a member of the Board if:

a. he resigns his appointment as a member

of the Board by notice, under his hand,
addressed to the president;

b. he becomes of unsound mind;

c. he becomes bankrupt or makes a

compromise with his creditors;

d. he becomes incapable of carrying out the

functions of his office either arising from an
infirmity of mind or body; or

e. the President is satisfied that it is not in the

interest of the Commission or in the interest
of the public for the person to continue in office
and the President removes him from office.

(2) Where a vacancy occurs in the membership of

the Board, it shall be filled by the appointment
of a successor to hold office for the remainder
of the term of office of his predecessor, so
however that the successor shall represent the
same interest as his predecessor.

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18. The Chairman and members of the Commission Emoluments etc
other than ex-officio members shall be paid of members
such emoluments, allowances and benefits as
may be recommended by the Revenue
Mobilisation Allocation and Fiscal Commission.

PART III - FUNCTION AND POWERS OF THE

COMMISSION
19. The Board shall have power to: Powers of the
Commission
a. provide the general policy guidelines
relating to the functions of the
Commission;

b. manage and superintend the policies of

the Commission;

c. subject to the provision of this Act, make,

alter and revoke rules and regulations for
carrying on the functions of the
Commission;

d. determine the terms and conditions of

service of the employees of the
Commission;

e. fix the remuneration, allowances and

benefits of the staff and employees of the
Commission in consultation with the
National Salaries, Income and Wages
Commission; and

f. do such other things which in its opinion

are necessary to ensure the efficient per
formance of the functions of the Commis
sion under this Act.

20. The Commission shall: Fuctions of the

Commission
a. take custody of every concession
agreement made under this Act and moni
tor compliance with the terms and condi
tions of such agreement;

b. ensure efficient execution of any

concession agreement or contract entered
into by the Government;

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 c. ensure compliance with the provisions of
this Act;

d. perform such other duties as may be

directed by the President, from time to time
and as are necessary or expedient to ensure the
efficient performance of the function of the
Commission under this Act.

PART IV- STAFF OF THE COMMISSION

21. - (1) There shall be for the Commission, a Director General

Director General who shall: of the Commission

a. be appointed by the President subject to

confirmation by the Senate;

b. be the Chief Executive and accounting

officer of the Commission.

c. be responsible for the execution of the

policy and day-to-day administration of the
Commission, and

d. be a member and the secretary to the Governing

board of Commission.

(2) The Director-General shall hold office-

a. for a term of 4 years in the first instance and

may be reappointed for a further term of 4
years; and

b. on such terms and conditions as may be

specified in his letter of appointment.

(3) Notwithstanding the provisions of Subsection

(2) of this section, the Director General may-

a. resign his appointment by a notice in

writing under his hand, addressed to the
President through the Board; or

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 b. be removed by the President for inability
to discharge the functions of his office
(whether arising from infirmity of mind or
body or any other cause) or for
misconduct or corruption.

22. The Commission may, subject to the Other staff of the

Commission
approval of the Board, appoint such other
staff as it may deem necessary and
expedient, from time to time :-

a. for the proper and efficient performance

of the functions of the Commission; and

b. on such terms and conditions as

may be determined; from time to time; by
the Board.

23. - (1) The Commission shall be approved for Pension Reform Act 2004
the purpose of the Pension Reform Act, and
accordingly officers and employees of the
Commission shall be entitled to pensions,
gratuities and other retirement benefits as are
prescribed-under the Pensions Reform Act.

(2) Without prejudice to the provisions of

Subsection (1) if this section, nothing in this
Act shall prevent the appointment of a
person to any office on terms and
conditions, which preclude the grant of
pension, gratuity or other retirement
benefits in respect of that office.

(3) For the purposes of the application of the

provisions of the Pension Reform Act 2004, any
power exercisable by a Minister or other
authority of the Federal Government,
other than the power to make regulations,
under Section 23 thereof, is hereby vested
in and shall be exercisable by the Board
and not by any other person or authority.

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PART V- FINANCIAL PROVISIONS

24. The Commission shall establish and main Funds of the

tain a fund to which shall be paid- Commission

a. grants from the Federal Government

b. all subvention and budgetary allocation

from the Federal Government;

c. gifts, loans, grant-in-aid from national,

bilateral and multilateral organizations and
agencies.

d. rents, fees and other internally generated

revenues from the services provided by the
Commission, and

e. all other sums accruing to the Commission,

from time to time.

25. The Commission may from time-to-time Expenditure of the

apply the proceeds of the fund established Commission
under Section 24 of this Act-

a. to the cost of administration of the

Commission;

b. to the payment of the emoluments

allowances and benefits of members of the
Board and for reimbursing members of
the Board or of any Committee set up by
the Board and for such expenses as may be
expressly authorised by the Board;

c. to the payment of the salaries, fees or

other remuneration or allowances,
gratuities and pensions, and other
benefits payable to the staff and other
employees of the Commission, so however
that no payment of any kind under this
paragraph (except such as may be expressly
authorised by the Board) shall be made to any
person who is in receipt of emolument from the
Government of the Federation or of a State;

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 d. for the development and maintenance of
any property vested in or owned by the
Commission;

e. for maintaining general financial reserves

subject to general or specific directives
that may be given in that behalf by the
President in accordance with the provision
of this Act; and

f. for and in connection with all or any of its

functions under this Act.

26. - (1) The Commission shall, not later Annual estimates

than 30th September in each year, submit and accounts
to the President an estimate of its expendi
ture and income (including payments
to the Commission Fund) for the next
succeeding year.

(2) The Commission shall keep proper

accounts in respect of each year and
proper records in relation to those
accounts and shall cause its accounts to
be audited within six months after the end
of each year by auditors appointed from
the lists and in accordance with the
guidelines supplied by the Auditor General
of the Federation.

27. - (1) The Commission shall prepare Annual reports

and submit to the President not later than
30th June in each year a report in such
form as the President may direct on
the activities of the Commission during
the immediate preceding year, and shall
include in the report a copy of the audited
accounts of the Commission for that year
and of the auditors report thereon.

(2) The Auditor General of the Federation

shall lay a copy of the report and the
auditors report thereon before the
National Assembly so soon after the
receipt thereof.

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28. - (1) The Commission may accept gift Power to accept
of land, money or other property on such gifts
terms and conditions, deemed lawful

(2) The Commission shall not accept any gift if

the conditions attached by the person or
organisation making the gift are inconsistent
with the functions of the Commission under
this Act.

PART VI - LEGAL PROCEEDINGS

29. Subject to the provisions of this Act, the Limitation of

provisions of the Public Officer Protection Act suits againt the
Commission, etc
shall apply in relation to any suit instituted Cap 379 LFN
against any member or officer or employee
of the Commission.

30. A notice, summons or other document Service

required or authorises to be served on documents
the Commission under the provision of
this Act or any other law or enactment may
be served by delivering it to the
Director General or by sending it by
registered post addressed to the
Director General at the principal office of
the Commission.

31. - (1) In any action or suit against the Restriction on

Commission, no execution or attachment execution against
property of the
of processes in the nature thereof shall be Commission
issued against the Commission unless not
less than three months notice of the
intention to execute or attach has been
given to the Commission.

(2) Any sum of money which by the judgment

of any court has been awarded against the
Commission shall, subject to any
direction given by the court, where no
notice of appeal against the judgment has
been given be paid from the fund of the
Commission.

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32. a member of the Board, the Indemnity of
Director General or any officer or officers
employee of the Commission shall be
indemnified out of the assets of the
Commission against any liability
incurred by him in defending any
proceeding, whether civil or criminal, if the
proceeding is brought against him in his
capacity as a member, Direct General,
officer or other employee of the
Commission.

PART VII - MISCELLANEOUS PROVISION

33. The President may give to the Commission such Directives by the
President, etc
directives of a general nature or relating
generally to matters of policy with regards to
the exercise of its or his functions under this
Act as he may consider necessary and it shall be
the duty of the Commission to comply with the
directives or cause them to be complied
with.

34. - (1) the Commission may, with the Power to make

approval of the President, make such regulation
regulations as in its opinion are necessary
or expedient for giving full effect to the
provisions of this Act and for the due
administration of its provisions.

(2) Without prejudice to the generality of

Subsection (1) of this Section, the Board
may issue guidelines to give full effect to
the provisions of this Act.

35. - (1) A member of the Board, the Director Secrecy

General or any other officer or employee
shall;

a. not, for his personal gain, make use

of any information which has come to his
knowledge in the exercise of his
powers or is obtained by him in the
ordinary course of his duty as a member
of the Board or as the Director General,
officer or employee of the Commission;

16
 b. treat as confidential any information which
has come to his knowledge in the exercise
of his powers or is obtained by him in the
performance of his duties under this Act;

c. not disclose any information referred to

under paragraph (b) of this Subsection,
except as required by law.

(2) Any person who contravenes the provisions

of Subsection (1) of this Section commits
an offence and shall on conviction be liable
to a fine of not less than N50,000 or
imprisonment for a term not exceeding
2 years or boths fine and
imprisonment.

36. In this Act: Interpretation

• “Board” means the Governing Board of

the Commission established under Section
15 of this Act.

• “Chairman” means the Chairman of the

Governing Board of the Commission
appointed under Section 15 of this Act.

• “Commission” means the Infrastructure

Concession Regulatory Commission
established under Section 14 of this Act.

• “concession” means a contractual

arrangement whereby the project
proponent or contractor undertakes the
construction, including financing of any
infrastructure, facility and the operation and
maintenance thereof and shall include the
supply of any equipment and machinery for
any infrastructure.

• “contractor” means any person or body

corporate who may or may not be a project
proponent who enters into a contract or
has been granted a concession by any Federal
Government Ministry, Agency, Corporation or
body and undertakes to construct any

17
 infrastructure or facility or supply any
equipment for any infrastructure or facility
under this Act; and the provision of any
services.

• “construction” means any form of

engineering work whether civil, structural,
mechanical or electrical and includes
rehabilitation, improvement, expansion,
alteration and related works and activities,
supply and installation of equipment or
materials.

• “Director General” means the

Director General of the Commission
appointed under Section 21 of this Act.

• “infrastructure” includes development

projects which, before the
commencement of this Act, were financed,
constructed, operated or maintained by
the Government and which, after the
commencement of this Act, may be wholly
or partly implemented by the private
sector under an agreement pursuant
to this Act including power plants,
highways, seaports, airports, canals,
dams, hydroelectric power projects,
water supply, irrigation,
telecommunications, railways,
interstate transport systems, land
reclama tion projects, environmental
remediation and clean-up projects,
industrial estates or township
development, housing, Government
buildings, tourism development projects
trade fair complexes, warehouse, solid
wastes management, satellite and ground
receiving stations, information technology
networks and database infrastructure,
education and health facilities, sewerage,
drainage, dredging, and other
infrastructure and development
projects as may be approved, from time to
time, by the Federal Executive Council.

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 • “member” means a member of the
Governing Board of the Commission and
includes the Chairman.

• “new investment and development

projects” include-

a. any project involving any infrastructure,

not existing at the time the concession is
being made, that will require the injection of
substantial funds or resources to design,
construct, build, maintain or operate such
infrastructure, or

b. any project involving any infrastructure,

existing at the time the concession is being
made, that will require the injection of
substantial funds or resources to repair,
service, overhaul, improve, maintain or
sustain such infrastructure;

• “President” means the President of the

Federal Republic of Nigeria.

• “project proponent” means any person

or body corporate who has contractual
responsibilities for the project and who
has adequate financial base to implement
the said project consisting of equity and firm
commitments from reputable financial
institutions to provide, upon award,
sufficient credit lines to cover the total
estimated cost of the project.

• “ex-officio members” means the Attorney

General of the Federation. Minister of Finance,
Secretary to the Government of the
Federation and Governor of Central Bank of
Nigeria.
Short title
37. This Act may be cited as the Infrastructure
Concession Regulatory Commission
(Establishment, etc.) Act. 2005.

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 SCHEDULE
SUPPLEMENTARY PROVISIONS RELATING TO THE COMMISSION

Proceedings of the Board

1. Subject to this Act and Section 27 of the Interpretation Act the Board
shall have power to regulate its proceedings and may make standing
orders with respect to the holding of its meetings, and those of the its
committees, notices to be given, the keeping of minutes of its
proceedings, the custody and production for inspection of such
minutes and such other matters as the Commission may from time to
time determine.

2. (a) There shall be at least four ordinary meetings of the Board in

every calendar year and subject thereto, the Board shall meet when
ever it is convened by the Chairman, and if the Chairman is requested
to do so by notice given to him by not less than 3 other members, he
shall convene a meeting of the Board to be held within 14 days from
the date on which the notice was given.

(b) Every meeting of the Board shall be presided over by the Chairman
and if the Chairman is unable to attend a particular meeting, the
members present at the meting shall elect one of their number to preside at the
meeting;

3. The quorum of any meeting of the Board shall consist of the Chairman
(or in an appropriate case, the person presiding at the meeting
pursuant to paragraph 2 of this schedule) and four other members.

4. The Board shall meet for the conduct of its business at such places
and on such days as the Chairman may appoint.

5. A question put before the Board at a meeting shall be decided by

consensus and where this is not possible, by a majority of the votes of
the members present and voting.

6. The Chairman shall, in the case of an equality of votes, have a casting

vote in addition to his deliberative vote.

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7. Where the board seeks the advice of any person on a particular
matter, the Board may invite that person to attend for such periods
as it thinks fit, but a person who is invited by virtue of this paragraph
shall not be entitled to vote at any meeting of the Board and shall not
count towards the quorum.

Committees

8. The Board may appoint one or more Committees to carry out on behalf
of the Board such of its function as the Board may determine and
report on any mater with which the Board is concerned.

9. A Committee appointed under paragraph 8 of this schedule shall be

presided over by a member of the Board and consist of such number
of persons (not necessarily all members of the Board) as may be
determined by the Board, and a person other than a member of the
Board shall hold office on the Committee in accordance with the terms
of his appointment.

10. A decision of a Committee of the Board shall be of no effect until it is

confirmed by the Board.

Miscellaneous

11. The fixing of the seal of the Commission shall be authenticated by the
signature of the Chairman and the Director-General or the
Director-General and such other person authorized by the Board to
act for that purpose.

12. A contract or an instrument which, if made or executed by any person

not being a body Corporate, would be required to be under seal, may
be made or executed on behalf of the Commission by the Chairman or
the Director-General or by any person generally or specifically
authorized to act for that purpose by the Board.

13. A document purporting to be a contract, an instrument or other

document signed or sealed on behalf of the Commission shall be
received in evidence and, unless the contrary is proved, be presumed
without further proof, to have been properly signed or sealed.

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14. The validity of any proceedings of the Board or its Committees shall
not be affected by:

a. any vacancy in the membership of the Board or its Committees; or

b. reason that a person not entitled to do so took part in the proceedings;

or

c. any defect in the appointment of a member:

15. Any member of the Board or Committee thereof who has a personal
interest in any contract or arrangement entered into or proposed to be
considered by the Board or any Committee thereof

a. shall forthwith disclose his interest to the Board or Committee; and

b. shall not vote on any question relating to the contract or arrangement.

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I certify, in accordance with Section 2(1) of the Acts Authentication Act, cap.A2, the Laws
of the Federation of Nigeria 2004, that this is a true copy of the Bill passed by both
Houses of the National Assembly.

NASIRU IBRAHIM ARAB

Clerk to the National Assembly
9th day of November, 2005

EXPLANATORY MEMORANDUM

This act provides for the participation of private sector in financing the construction, de-
velopment, operation, or maintenance of Infrastructure or development projects of the
Federal Government through concession of contractual arrangements, and the establish-
ment of the Infrastructure Concession Regulatory Commission to regulate, monitor and
supervise the contracts on Infrastructure or development projects.

NARIRU IBRAHIM ARAB

Clerk to the National Assembly
9th Day of November, 2005

CHIEF OLUSEGUN OBASANJO GCFR

President of the Federal Republic of Nigeria
10th Day of November, 2005

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 INFRASTRUCTURE CONCESSION REGULATORY COMMISSION
Plot 1270 Ayangba street, Near FCDA Headquarters, Area 11, Garki - Abuja.
Tel: +234-9-4604900, E-mail: [email protected], Website: www.icrc.gov.ng