President Bola Tinubu has approved a major policy shift empowering the Infrastructure Concession Regulatory Commission (ICRC) to independently approve Public-Private Partnership (PPP) projects valued below ₦20 billion—removing the previous requirement for Federal Executive Council (FEC) approval for such projects.
Under the new directive, federal ministries can approve PPP initiatives up to ₦20 billion, while agencies and parastatals are authorized to greenlight projects worth up to ₦10 billion. This decision is expected to eliminate bottlenecks and fast-track the delivery of small- and medium-scale infrastructure projects across Nigeria.
Announcing the development, ICRC Director-General Dr. Jobson Ewalefoh, through a statement issued by Acting Head of Media, Ifeanyi Nwoko, said the move is part of President Tinubu’s strategy to streamline PPP implementation and boost private sector participation in infrastructure development.
“This policy marks a turning point in Nigeria’s PPP landscape,” Ewalefoh stated. “It allows MDAs to manage and approve projects within specific thresholds, thereby enhancing efficiency and encouraging diverse private investment.”
According to the new framework, each MDA will establish a Project Approval Board (PAB) under ICRC guidelines to oversee and approve eligible projects. However, projects above the ₦20 billion threshold, or those involving multiple ministries, will still require FEC consideration.
Crucially, the policy mandates that all qualifying PPP projects must be fully funded by private entities without financial support, guarantees, or commitments from the federal treasury. Despite the new autonomy granted to MDAs and agencies, all projects must still undergo evaluation and certification by the ICRC before receiving final clearance.
President Tinubu emphasized that PPPs will play a central role in achieving transformative national development. This directive aligns with broader efforts to cut red tape, stimulate investor confidence, and accelerate Nigeria’s long-overdue infrastructure revolution.
