ICRC Unveils New Guidelines To Accelerate Public-Private Partnership Projects In Nigeria.
The Infrastructure Concession Regulatory Commission (ICRC) has introduced new guidelines to streamline Public-Private Partnership (PPP) projects across Nigeria, decentralising approval powers to Ministries, Departments, and Agencies (MDAs). Unveiled on Sunday, 17 August 2025, during a high-level stakeholders’ engagement in Abuja, the framework aligns with a presidential directive from President Bola Tinubu to overhaul Nigeria’s infrastructure delivery and attract private sector investment. The guidelines, issued under the ICRC Act of 2005, aim to expedite project delivery while maintaining rigorous oversight.
Under the new rules, federal ministries can now approve PPP projects valued below ₦20 billion, while agencies and parastatals are authorised to greenlight projects up to ₦10 billion. Larger projects or those spanning multiple ministries will still require Federal Executive Council (FEC) approval. To support this, the ICRC has mandated the establishment of Project Approval Boards (PABs) within MDAs to vet and approve eligible projects, subject to the commission’s certification. All projects, regardless of size, must undergo ICRC’s due diligence to ensure compliance, transparency, and accountability, with a strict zero-tolerance policy for non-compliance.
Dr Jobson Oseodion Ewalefoh, ICRC Director-General, emphasised that the guidelines respond to President Tinubu’s vision to liberalise the economy and mobilise private sector finance for infrastructure development. “These rules establish a definitive framework for the conception, development, and execution of PPP projects in Nigeria,” Ewalefoh said, adding that they empower MDAs for faster delivery while safeguarding the ICRC’s regulatory role. He clarified that the commission remains a facilitator, not an operator or grantor, and will coordinate negotiations between MDAs and private proponents to ensure fair and implementable agreements.
The guidelines outline detailed requirements for preparing Outline Business Cases (OBCs), Full Business Cases (FBCs), financial models, and procurement routes, ensuring a structured process from conception to execution. Crucially, all PPP projects must be fully financed by the private sector, with no reliance on federal treasury guarantees. This move is expected to unlock billions in private investment, addressing Nigeria’s estimated $100 billion infrastructure gap by reducing bureaucratic delays that have historically stalled projects like roads, bridges, ports, and power plants.
Stakeholders at the engagement expressed strong support for the reforms, pledging immediate implementation. The ICRC reaffirmed its commitment to collaborating with MDAs, private investors, financiers, and development partners to position Nigeria as Africa’s leading hub for transformative PPP projects. Analysts view the framework as a bold step to streamline processes, boost investor confidence, and bridge the nation’s infrastructure deficit, fostering economic growth and job creation.