Risks: ICRC Trains MDAs As Expert Recommends Establishment of National Risk Office
Federal government agencies and ministries have been trained the Infrastructure Concession Regulatory Commission
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Michael Ohiani said that the training was part of efforts by the Commission to ensure that only the right people are allowed to take on risks in PPPs
According to organisers, participants need to understand that risk was not all about gloom but also about opportunities
The Infrastructure Concession Regulatory Commission (ICRC) has commenced training for Ministries, Departments and Agencies (MDAs) on risk management, especially as it relates to Public Private Partnerships (PPPs).
The training which was declared open by the Acting Director General of the Commission, Michael Ohiani, had Ministries of Transportation, Justice, Aviation, Water Resources as well as agencies under the Ministries in attendance.
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Aimed at enlightening decision makers in government agencies on risk assessment and management, the training sought to advance PPP processing to capitalize on opportunities and avoid pitfalls that can bring about economic losses.
Speaking at the opening of the training, Acting Director General of the ICRC, Michael Ohiani said that the training was part of efforts by the Commission to ensure that only the right people are allowed to take on risks in PPPs.
He hinted that after the establishment of the ICRC in 2005 and its commencement in 2008, the Commission noticed a major gap in the preparation process of PPP projects and in its bid to fill this gap, the Commission established a training institute so as to bring PPP stakeholders up to speed with what PPP entailed.
“We set up a consultative forum where all the MDAs meet quarterly to exchange ideas. We also have a platform for states PPP units to interact at least once a year. It is therefore pursuant to that that we are having this training today.
“As you are aware, risk management plays a very important role in PPPs. Parties who are best suited to bear a particular risk are assigned to take on such responsibility.
“We are happy to have in our midst one of the leading groups in risk management, we are working to have a collaboration so that the foundation that has been cultivated today will continue to be nurtured,” he said.
Speaking further, the Ag. DG pointed out that participants need to understand that risk was not all about gloom but also about opportunities.
For the trainer, Mr Joachim Adenusi, a risk management expert and Managing Partner at Conrad Clark Nigeria Limited, he called for the establishment of a Risk Management Desk for the nation and the appointment of a ‘Risk Manager of the Federation’.
Adenusi explained that with proper risk management through the office of the Risk Manager for the Federation, Nigeria’s economic situation will be advanced and its debt portfolio reduced.
He added that individuals across Sub-Saharan Africa were already being trained to become risk professionals.
Hope for Nigerian students as FG moves to end ASUU strike with payment of N34bn minimum wage arrears
Meanwhile, the federal government has said it would pay about N34bn minimum wage consequential adjustments to education sector workers with effect from 2019, The Punch reports.
The beneficiaries include the members of the striking Academic Staff Union of Universities (ASUU) and their counterparts in the polytechnics and Colleges of Education.
The minister of labour and employment, Senator Chris Ngige, made this disclosure on Tuesday, May 24, while responding to questions from labour correspondents in Abuja on the prolonged ASUU strike.
Source: Legit.ng
