The Infrastructure Concession Regulatory Commission (ICRC) has rolled out new guidelines for Public-Private Partnership (PPP) projects, setting fresh approval limits and procedures to accelerate infrastructure delivery across Nigeria.
The framework, issued in line with a presidential directive and the ICRC Act, 2005, empowers Ministries to independently approve projects valued below ₦20 billion, while agencies and parastatals are restricted to projects under ₦10 billion. A dedicated project approval board will also be established to strengthen oversight.
According to the new rules, Ministries, Departments, and Agencies (MDAs) must now adhere to clearly defined steps for preparing Outline Business Cases (OBCs), Full Business Cases (FBCs), and financial models. The guidelines also provide direction on procurement methods, drafting PPP agreements, and ensuring compliance throughout the project cycle.
Speaking at a high-level engagement with MDAs in Abuja, ICRC Director-General, Dr. Jobson Oseodion Ewalefoh, said the measures align with President Bola Tinubu’s drive to liberalise the economy and mobilise private sector funding for infrastructure.
“These rules establish a clear framework for conceiving, developing, and executing PPP projects in Nigeria. They empower MDAs to deliver faster while safeguarding ICRC’s regulatory role. Every project, regardless of size or sector, must comply strictly with these provisions,” Ewalefoh stated.
He stressed that the ICRC remains strictly a regulator not an operator or grantor of projects and will continue to facilitate negotiations between MDAs and private investors to ensure fair, workable agreements.
While decentralising approvals, the Presidency has reinforced accountability, with ICRC warning of zero tolerance for non-compliance.
The Commission reaffirmed its commitment to partner with MDAs, investors, financiers, and development partners to position Nigeria as Africa’s top hub for bankable PPP projects.
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