The Federal Government, through the Infrastructure Concession Regulatory Commission (ICRC), has released new Public-Private Partnership (PPP) guidelines designed to accelerate infrastructure delivery and attract private sector investment in Nigeria.
The framework, issued under the ICRC Act 2005 and approved by President Bola Ahmed Tinubu, decentralises approval powers to ministries, departments, and agencies (MDAs). Ministries can now approve projects valued under ₦20 billion, while agencies and parastatals can approve those under ₦10 billion, without seeking Federal Executive Council approval.
The guidelines outline requirements for setting up Project Approval Boards (PABs), preparing Outline and Full Business Cases, developing financial models, and guiding procurement processes and PPP agreements. According to the ICRC, the reforms will speed up delivery, ensure accountability, and strengthen Nigeria’s capacity to secure private financing for infrastructure.
Unveiling the guidelines at a high-level stakeholder engagement in Abuja, ICRC Director General, Jobson Ewalefoh, emphasised that all PPP projects, regardless of size or sector, must undergo due diligence and compliance checks. He reaffirmed that the ICRC’s role remains regulatory, not operational, and stressed zero tolerance for non-compliance.
Dr. Ewalefoh noted that the new rules reflect President Tinubu’s vision to liberalise the economy, foster transparency, and position Nigeria as Africa’s leading destination for transformative PPP projects. Stakeholders present expressed strong support and readiness to begin implementation.
The ICRC pledged to continue collaborating with MDAs, investors, financiers, and development partners to ensure PPPs remain fair, bankable, and sustainable.
