FG to generate N48 billion in revenue, create over 10,000 jobs through broadband and planetarium projects —ICRC

The Infrastructure Concession Regulatory Commission (ICRC) has issued two full business case (FBC) certificates to the Federal Ministry of Science, Technology and Innovation for the concession of an Internet project satellite broadband as well as a museum and planetarium project.< /p>

The projects, which would be executed through the National Space Research and Development Agency (NARSDA), are expected to generate over N48 billion in revenue, create over 10,000 direct and indirect jobs and contribute also to the fight against insecurity, while ensuring Internet penetration. to rural areas.

In a statement, Manji Yarling, Acting Head of the Media and Publicity Department, said the FBCs, which were introduced by ICRC Director General Michael Ohiani, were received by the Minister of Science, Technology and Innovation, Dr. Adeleke Mamora.

A planetarium is a domed building into which images of stars, planets, and constellations are projected for the entertainment or education of the public.

Receiving the FBCs, the Minister congratulated the DG of the ICRC and his NARSDA counterpart, Dr. Halilu Shaba, for the work that had been done to bring the projects to this point

"It's not over; it won't be until the Federal Executive Council (FEC) gives its approval. These are very critical projects that will enhance our development as a nation in all its ramifications said Dr. Mamora.

Seeing an example with Dubai, he said the planetarium and museum projects are among the projects the UAE is rolling out in Dubai to generate a pool of funds through tourism.

He said with as little as 0.2% broadband penetration in Nigeria, the government led by President Muhammadu Buhari was now in a hurry to complete the satellite broadband project within the next six months. month.

"We told agencies and directors when we came here that one of the things we are looking at is how we can deploy technology to solve the most critical challenge in this country right now which is the 'insecurity.

"With satellites you can monitor movements and get intelligence. This is very critical and it will also provide a lot of jobs.

"There is nowhere in the world where government does it alone and that is why we need private sector buy-in through public-private partnerships (PPPs).

“We will present these projects to the Federal Executive Council (FEC) and defend them vigorously and our expectations will not be shortened,” the minister said.

During the presentation of the certificates, ICRC DG Ohiani said the two projects would bring many employment opportunities to Nigerians, generate income and also support the government's fight against insecurity.

"In terms of broadband, we expect 10,000 direct and indirect jobs for the 15 years of the concession. The project will also bring in revenue of N28 billion to the country.

"In addition, regarding the museum and planetarium, we expect to receive over 2,160 visitors per week, and this will generate an estimated revenue of N20 billion.

"It will also improve tourism, capacity building, education, innovation and also address security issues," Ohiani said.

Giving more information on the broadband project, Ohiani said the concession also aims to roll out over 7,000 Very Small Aperture Terminals (VSAT) across Nigeria over the next two years.

He said the proposed concession, which stemmed from an unsolicited proposal through Messrs. Gilat-Eleo Consortium (GO360) as the preferred bidder, would use a Design, Finance, Build, Operate PPP model. and transfer (DFBOT).< /p>

For the planetarium and museum, he said the PPP model of equipment, operations and maintenance was being adopted, with 2,160 visitors expected each week, of which 360 would engage in the parachuting section and 1,800 visitors for other tourist activities.

For Ohiani, the projects would also curb capital flight and increase government non-oil revenue.

NARSDA CEO Dr. Halili Shaba recalled that in 2021, President Buhari had tasked the space agency to seek ways to generate revenue, stressing that the two projects provide such an opportunity.

He said that the planetarium had been built for a while but had not yet been equipped due to lack of funds, prompting the shift to concessioning the project for investment and private sector operation.

For the broadband project, he said Nigeria's venture into space technology was primarily for socio-economic development, hence he relied on the project to reach all Nigerians in the rural areas.

“Some of the facilities that will be used will be assembled here in Nigeria; it will create jobs, it will bring more financial flows into the country and it will strengthen research and development in Nigeria,” he said.

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