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

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LAWS OF THE FEDERATION OF NIGERIA 

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

EXPLANATORY MEMORANDUM

This Act provides for the participation of private sector in financing the construction, development, operation, or maintenance of infrastructure or development projects of the Federal Government through concession or contractual arrangements; and the establishment of the infrastructure Concession Regulatory Commission to regulate, monitor and supervise the contracts on infrastructure or development projects

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ARRANGEMENT OF SECTIONS

1. Conduct with Private Sector for the construction, maintenance of Federal Infrastructures, 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.
14. The Establishment of the Infrastructure Concession Commission, etc.
15. Establishment of the Governing Board for the Commission.
16. Tenure of Office.
17. Cessation of Membership.
18. Emolument etc of Members.
19. Powers of the Commission.
20. Functions of the Commission.
21. Director-General of the Commission.
22. Other staff of the Commission.
23. Pensions Act 2004.
24. Funds of the Commission.
25. Expenditure of the Commission.
26. Annual Estimates and Accounts.
27. Annual Reports.
28. Power to accept gifts.
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.
33. Directives by the President, etc.
34. Power to Make Regulations.
35. Secrecy.
36. Interpretation.
37. Short title.

Schedule.

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

An Act to provide for the establishment of the Infrastructure Concession Regulatory Commission, and for related matters.

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ENACTED by the National Assembly of the Federal Republic of Nigeria-

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