An independent review of the Northern Australia Infrastructure Facility (NAIF) Act has been tabled by Federal Minister for Northern Australia, Madeliene King, outlining a range of recommendations to ensure the Act remains fit-for-purpose.
Led by the Hon Warren Snowdon, along with Professor Peter Yu and Dr Lisa Caffery, the review held 85 meetings with stakeholders from all levels of government, industry, First Nations organisations, research and regional development bodies. The panel also reviewed 40 written submissions.
The NAIF was established in 2016. The review assessed whether the NAIF’s time limit of 30 June 2026 for making investment decisions should be extended, and the appropriate governance arrangements after this date.
The review makes 21 recommendations to strengthen governance arrangements for NAIF. It found overwhelming support for NAIF at all levels of government, industry and the public, and has subsequently recommended that the NAIF be allowed to make investment decisions in perpetuity.
“I thank Mr Snowdon, Professor Yu and Dr Caffery for their work and recommendations,” Minister King said.
“The government will consider the review and respond to the recommendations in coming months.”
The NAIF review is available here.
