The Federal Radio Corporation of Nigeria, FRCN, says it is leveraging its underutilised lands to generate revenue for the rehabilitation and modernisation of its ageing broadcast infrastructure.
The Director-General of the Corporation, Dr. Mohammed Bulama, said the initiative would be implemented through Public-Private Partnerships, PPP, without transferring ownership of FRCN properties to private investors.
In a statement, Dr. Bulama explained that the Corporation had adopted the Design, Finance, Build, Operate and Transfer, DFBOT, model to transform idle assets into revenue-generating projects.
He said the initiative was expected to strengthen FRCN’s financial sustainability, attract private investment and stimulate economic activities around project locations.
Dr. Bulama disclosed that PPP projects were ongoing in Lagos, Ibadan, Owerri and Kaduna, adding that the value of the Corporation’s underutilised lands could help finance the renewal of its dilapidated facilities.
He, however, warned the public against falling victim to fraudsters claiming to sell FRCN lands and properties, stressing that no property belonging to the Corporation had been put up for sale.
The Director-General recalled that some strategic assets, including No. 45 Martins Street, Lagos, and properties in Enugu and Ibadan, were previously sold by the disbanded Presidential Implementation Committee without recourse to Radio Nigeria.
He said the current initiative was consistent with the Federal Government’s economic policies and supported by Section 2.1.4 of the FRCN Act.
