By Shaka Braimah
The Federal Radio Corporation of Nigeria, FRCN, has formally handed over six hectares of land to a private Company, Fish Valley Investment and properties Limited, under a Public-Private – Partnership agreement.
The Ceremony, which took place at the FRCN National Broadcasting Academy in lkeja, witnessed the signing of Memorandum of Understanding, MOU, by the parties involved.
According to the MOU, the property development Company is expected to build luxurious apartments and other social amenities which it will manage for fifty-five years on lease.
In his keynote address, the Minister of information and Culture, Alhaji Lai Mohammed explained that the procurement process
of the land to the developer , started in 2010 and was finally approved by the Federal Executive Council in December, 2022.
The Minister was optimistic that the project, when completed, would not only create jobs for Nigerians but also increase the revenue generating capacity of FRCN and other statutory agencies of government.
He described the partnership as a Win-Win initiative between FRCN and Fish Valley investment Property Limited, adding that the ministry would monitor the execution and management of the project.
In his opening remarks, the Director-General of Federal Radio Corporation of Nigeria, FRCN, Dr Mansur Liman, noted that modern day broadcasting involved huge funding, hence the need to source for alternative ways by putting the corporation’s landed property, which has been lying fallow, into viable economic use.
Dr Liman, who described the project as a right step in the right direction, believed that the measure would make government agencies, such as FRCN to be self reliant .
On his part, the Managing Director of infrastructure Concession Regulatory Commission, ICRC,
Mr Michael Ohiani said that the Project was one of the achievements of the Present administration on infrastructural development through Public- Private Partnership arrangement.
Mr Ohiani announced that over Eighty-six of such projects, worth over three trillion naira had been executed by the commission under the current administration.
Speaking on behalf of the Fish Valley Investment Property Limited, the Chairman of the company, Mr Muyiwa Osho, thanked all stakeholders involved in the procurement process, leading to the approval by the Federal Executive Council.
Mr Osho promised to ensure total compliance with the terms and conditions of the Partnership agreement.
The event was well attended by top management staff of the FRCN Lagos operations, led by the Director, Mrs Bolanle Owoyemi.
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