ICRC Act Amendment Will Be A Gamechanger For Sanctity of Contracts, PPPs - Kubianga Udofia
The Amendment of the Infrastructure Concession Regulatory Commission, ICRC Act in Nigeria will be a gamechanger for the nation in the area of effective 'Public-Private Partnerships-PPPs' and enforcing the "Sanctity of Contracts" which are critical for attracting more investments and improving the process of Doing Business in Nigeria. This was the perspective of Dr Kubianga Udofia, Managing Associate of Babalakin & Co (A Commercial Law Firm), who featured as a guest at the 42nd edition of the WebTV "Economy and Politics" show anchored by Ottoabasi Abasiekong.
According to him the ICRC will be empowered by law when the amendment is passed and signed into law, to carry out its role and assignment as a regulatory body guaranteed that there is no undue political interference. He also made a case for an effective dispute resolution legal framework that fast-tracks judgements on PPP cases, with top priority for enforcement of judgements.