Nigeria’s Federal Executive Council (FEC) has greenlighted a N5.3 billion initiative to digitally transform the country’s civil registration process. The Electronic Civil Registration and Vital Statistics System (eCRVS), a platform designed to maintain electronic records of births and deaths, will replace the outdated, inefficient manual system.
Funding for this initiative will come from Barnksforte Technologies Limited, serving as the project’s concessionaire. The National Population Commission will function as the Grantor in this arrangement. As part of their role, Barnksforte will spearhead the Design, Financing, Building, and Operating phases before handing the project over to the government, concluding a 15-year concession period. The digitised birth and death registration system is expected to enhance data reliability, improve coverage, and expedite service delivery, fostering a more efficient public record system.
Furthermore, the FEC has endorsed the formation of an Aviation Leasing Company (ALC) within a Public-Private Partnership (PPP) framework. As indicated by the Infrastructure Concession Regulatory Commission (ICRC), the ALC is designed to facilitate local aircraft leases for both domestic and international carriers.
The ALC will be managed by the AJW Consortium, acting as the concessionaire. The initiative is targeted at resolving the challenges of aircraft/engine leasing, high lease rates, and substantial insurance premium charges that Nigerian airlines currently face. The ALC is set to curb capital flight and forex demand, while promoting competition, leading to more favorable terms and conditions.
The ALC project is set to launch by initially leasing eight aircraft in its inaugural year of operation. The ambition is to expand the portfolio to 50 leased aircraft by the seventh year, with an ultimate goal of maintaining 70 leased aircraft by 2034. Once the portfolio crosses the 50 leased aircraft mark, the company plans to switch to direct aircraft purchases, signaling a transformative phase for Nigeria’s aviation sector.
These initiatives mark significant strides towards digitisation, improving the business environment, and mobilizing private sector resources for infrastructure enhancement. They also promise to generate employment, resulting in a ripple effect on Nigeria’s economy.
The project approvals were granted following the issuance of Full Business Case compliance certificates by the ICRC and the Federal Ministry of Aviation, reflecting the federal government’s commitment to leveraging technology and fostering private sector engagement for national development.
