Infrastructure Concession Regulatory Commission (ICRC) has said that the proposed National Hajj Commission of Nigeria (NAHCON)’s 2.6Ha Property, located at one of their zonal offices in Kano State, will gulp N1.57 billion.
ICRC acting director general, Mr. Michael Ohiani, disclosed this when he issued the Outline Business Case (OBC) Certificate of compliance for implementation of the property through Public Private Partnership (PPP) to NAHCON at the Hajj House in Abuja on Tuesday.
Ohiami, who described the project as transformational, said it is expected to generate revenue for the commission to meet up with the continuous growth of hajj activities in the country and become self-sustaining.
He commended the leadership of the Commission for adopting Public Private Partnership (PPP) arrangement for commercial development of NAHCON’s poverty in its quest to become self-sustaining.
“NAHCON was established to license, regulate, supervise and perform oversight function over organisation, association of similar bodies in providing accommodation, transportation and other services related to performance of Hajj and Umrah in Saudi Arabia.
“The Commission has identified that the commercial development of some of her properties would help to raise the needed funds to meet up with the continuous growth of hajj activities in the country and become self-sustaining.
“To this end, the commission received an unsolicited proposal from a reputable construction firm seeking to develop NAHCON 2.6Hs property located at one of their zonal offices in Kano state through PPP arrangement for the purpose of commercial shop, warehouses, NAHCON zonal office and accompanying support services like mosque, bank etc.
“The Project is to be concessioned for a period of 35 years and would be executed by a private capital to the tune of about N1.57 billion,” Ohiani said.
The Chairman of Hajj Commission, Alhaji Zikrullah Kunle Hassan, said the commission will not spend its money on the execution of the project.
“We are not going to spend any of our money on the project. The idea is to invite private businesses to invest in our landed property and the idea is that it will be a win-win for us.
“The board of the Commission are with us about this initiative, believing that with this kind of PPPR it would open so many other doors to many assets of the NAHCON which are best described as wasting assets.
“The purpose is to turn them into revenue based and if we are able to open up our revenue based, it means we will no more rely on hajj alone as our source of income, but will also generate funds for the government. This means, hajj commission will transit from being just to receive to an agency that will generate funds for the federal government.”