The Infrastructure Concession Regulatory Commission (ICRC) says the approval of the concessions of its two projects by the Federal Executive Council (FEC) would attract N180 billion in revenue to Nigeria.

In a statement in Abuja on Sunday, Ifeanyi Nwoko, ICRC spokesperson, said the projects include Bio-mass and Bio-ethanol Value Chain and National Fire Detection And Alarm System (NAFDAS).

Mr Nwoko said the concession was to create wealth, reduce poverty, improve food security and nutrition, provide jobs and renewable energy, and reduce carbon footprint.

“While the NAFDAS project will generate a total of N75 billion in the 15-year concession period, the cassava bio-ethanol value chain will generate a total revenue of N105 billion within the five-year concession period.

“The cassava bio-ethanol value chain, which will be done in a pilot phase, aims to build a Bio-technology Industrial Park on a 20-hectare plot across 20 universities, academia and research and development institutes.

“In the pilot phase, 5,000 special hybrid cassava (TME 419) stems will be planted per hectare, (totalling) 100,000 stems for the 20 hectares,” he said.

In addition, he said the project would supply organic fertiliser, boosters, conditioners, pre and post-emergent herbicides, pesticides, insecticides, fungicides, and knapsack sprayers.

“The project also seeks to double cassava production from the current 62 million tons to an output of no fewer than 120 million tons.

“With improved tropical agroecology, biotechnology, intense mechanisation, and effective partnership resource mobilisation, Nigeria can double output to 120 million metric tons in five years,” he said.

Mr Nwoko said the goal of the cassava-bioethanol pilot project was to demonstrate the efficacy of a private sector-led approach in promoting investment in renewable biomass and creating wealth.

Mr Nwoko said the project was proposed to be financed with a grant from the federal government and concessionaire investment totalling N11.9 billion.

The ICRC spokesman said the revenue stream presented by the project includes sales of cassava stem, cassava flour, garri, starch, and Bio-ethanol.

“Total revenue for the five-year concession period is N105,610,000,000,” he said.

He said the NAFDAS project would provide fire mitigation hardware, software, and equipment linked to a cloud network.

Mr Nwoko said the Federal Fire Service would supervise the project through a private entity.

“Through the use of this technology, call and response time in fire incidents will be automated, thus drastically reducing avoidable incidents,” he said.

Mr Nwoko said more lives and properties would be saved and ensure efficient fire prevention, detection and management.

“This means that smoke alarms and other fire detection hardware will be linked to a server which will alert the system when the user is in distress without them having to call for help,” he said.

He said the project would begin in seven states on a pilot basis before rolling it out to all states across the country.

MrlNwoko said the project’s total cost was N3.5 billion, while the government targets to generate N75 billion within 15 years of the concession.

“Share of revenue to the government was projected as 40 per cent of subscription revenue totalling N17,262,850,871, an average of N1,150,856,724 over the 15 years proposed concession period.”

He added that the revenue stream included margin on installations and annual subscription fees from users.

Mr Nwoko said both projects would be executed under the regulatory guidance of ICRC, with the revenue shared between the government and the concessionaire at a ratio decided in the concession agreement.

(NAN)