The Infrastructure Concession Regulatory Commission (ICRC) has streamlined its activities to enable issuance of Outline Business Case (OBC) Certificate of Compliance and the Full Business Case (FBC) Certificate of Compliance to be completed within seven days.
Reduction in days for FBC issuance, ICRC management believes, will accelerate the turnaround time for approvals by the Commission.
The decision, it said, was in line with the directive by President Bola Ahmed Tinubu to the Director General of the Commission, Dr Jobson Oseodion Ewalefoh, “to accelerate investment in National Infrastructure through innovative mobilization of private-sector funding”. ICRC’ Acting Head, Media and Publicity, Mr. Ifeanyi Nwoko, confirmed the development in a statement issued on Monday.
The statement added that President Tinubu also charged him to work assiduously to boost infrastructure development in Nigeria as part of the renewed hope agenda of the current administration.
“In view of the above, Dr Ewalefoh-led management team of the ICRC has streamlined the approval processes of the commission to issue its certificates of compliance within seven days. This will accelerate the turnaround time for approvals by the Commission.
“In line with the charge of His Excellency, President Bola Ahmed Tinubu, GCFR, and following his Renewed Hope Agenda, we have streamlined and updated our approval processes to issue either of the Outline Business Case Certificate of Compliance (OBC) and the Full Business Case Certificate of Compliance (FBC) to Ministries, Departments and Agencies (MDAs) that meet the requirements within seven days.”
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