HomeNewsFEC Greenlights Ijora Workshop Concession, Eyes N28.1bn Boost

FEC Greenlights Ijora Workshop Concession, Eyes N28.1bn Boost

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The Federal Executive Council (FEC) has endorsed a landmark concession, entrusting the Central Workshop in Ijora’s revitalization to private hands, under the watchful eye of the Infrastructure Concession Regulatory Commission (ICRC), according to an official communiqué.

Marking a premiere in President Bola Tinubu’s tenure, this venture, as outlined by ICRC’s Head of Media and Publicity, Manji Yarling, emerges as the foremost Public-Private Partnership (PPP) project. The initiative employs a comprehensive Rehabilitate-Operate-Maintain-and-Transfer model, prioritizing the workshop’s modernization to fulfill its original operational mandate.

“Backed by the Federal Ministry of Works, this Privately Initiated Infrastructure Proposal by Beta Transport Nigeria Limited promises an injection of NGN 28.1 billion into the economy over two decades,” Yarling disclosed. The move signifies a robust response to the dormant state of this colonial relic, once the nerve center of public works.

The Central Workshop, a critical arm of the erstwhile Public Works Department (PWD), played a pivotal role in maintaining colonial infrastructures, from government edifices and transport systems to utilities. However, its current underutilization underscores the urgency for private sector engagement to reawaken its legacy.

Post-FEC approval, the onus is on the concessionaire to not only revive but also elevate the workshop’s operational standards. “The rejuvenation will align with stringent protocols, ensuring the facility mirrors the federal government’s infrastructural vision,” Yarling affirmed.

Beyond refurbishment, the workshop under Beta Transport’s stewardship will echo its historic past, fabricating diverse mechanical tools and components. “The revamp extends to providing essential repair services, rescuing countless vehicles from roadside abandonment, and contributing significantly to local traffic decongestion,” the statement highlighted.

The FEC’s nod to this concession crystallizes the government’s commitment to restoring historical assets, invigorating public-private relationships, and steering economic growth, one initiative at a time.

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