…Presidential directive to speed up infrastructure deals
…MDAs get more autonomy, stricter oversight
In a decisive move to overhaul Nigeria’s infrastructure delivery processes through public-private partnerships (PPPs), the Infrastructure Concession Regulatory Commission (ICRC) has issued a set of guidelines that will govern the development and implementation of all PPP projects in Nigeria.
The new framework, released under the statutory powers conferred on the Commission by the ICRC Act, 2005, and in compliance with the Presidential directive, was formally unveiled in Abuja during a high-level stakeholders’ engagement with representatives from all Ministries, Departments, and Agencies (MDAs) of the Federal Government directly involved in PPPs.
The guidelines outline the procedures and requirements for establishing a Project Approval Board in line with the new presidentially approved thresholds—up to N20 billion for Ministries and N10 billion for agencies and parastatals.
They also detail the steps for preparing the Outline Business Case (OBC), Full Business Case (FBC), and financial model, while providing clear direction on procurement processes, PPP agreements, and other critical components of project development.
Jobson Ewalefoh, director-general of the ICRC, formally presented the new guidelines to help stakeholders through each section, addressing questions, and providing clarifications to ensure a clear and thorough understanding of the framework.
The new guidelines are in response to President Bola Ahmed Tinubu’s vision to liberalise the economy and in line with his charge to the ICRC to seek innovative ways to attract private sector finance to build infrastructure through PPPs.
While presenting the guidelines, Ewalefoh stressed that the new rules establish a definitive framework for the conception, development, and execution of PPP projects in Nigeria
“They decentralise project approvals to empower MDAs for faster delivery while safeguarding the ICRC’s role as regulator of PPPs in Nigeria.
“Every PPP project — regardless of sector, scale, or origin — must strictly comply with these provisions. Every project shall be subjected to our due diligence and compliance requirements,” he stated.
He re-emphasised the role of the ICRC as a regulator of PPPs and not an operator or grantor of projects and informed the participants that the Commission will continually facilitate and coordinate negotiations between MDAs and private proponents. This, he stressed, is to ensure that the terms and conditions of agreements are fair to parties and implementable.
Ewalefoh emphasised that while the Presidency’s decision grants MDAs greater approval authority, the ICRC will maintain regulatory oversight—ensuring increased accountability and enforcing a strict zero-tolerance stance on non-compliance. He noted the ICRC’s commitment to working closely with MDAs, private investors, financiers, and development partners to position Nigeria as Africa’s premier hub for bankable and transformative PPP projects.
By the end of the engagement, stakeholders voiced strong support for the reforms and signaled their readiness to begin implementing the new guidelines without delay.
