The approval by the Federal Executive Council for the establishment of a Planetarium and Museum at the National Space Research and Development Agency (NASRDA), will boost the country’s tourism and generate N30 billion to both the Federal Government and the Private Sector Investor coffers.
The Infrastructure Concession Regulatory Commission (ICRC), which stated this via a press statement noted that the projects which will adopt an Equip, Operate and Maintain Public Private Partnership Model, followed the regulatory guidance of the ICRC.
“The project is designed to run for a concession period of 15 years and will generate a total of N30 billion to both the Federal Government and the Private Sector Investor”, the ICRC stated.
A Planetarium is a domed building in which images of stars, planets, and constellations are projected for public entertainment or education.
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The projects will be executed through the National Space Research and Development Agency (NARSDA) with Messrs Atlantic Factorial Limited as the concessionaire.
Giving insights into the Planetarium and Museum projects, the Director General of the ICRC, Mr. Michael Ohiani said that the projects will boost the nation’s tourism sector and stem capital flight.
He said that a total of 2,160 visitors are expected every week, out of which 360 will engage in the sky diving section and 1800 visitors for other tourist activities.
Following the approval by FEC, the next stage of the project is the signing of agreement between the NASRDA(Grantor) and Milky-Way Visuals Ltd, the Special Purpose Vehicle (SPV) set up by the concessionaire to specifically handle the project.
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