The Infrastructure Concession Regulatory Commission (ICRC) has released a new set of guidelines to govern the development and implementation of Public-Private Partnership (PPP) projects across Nigeria.
The framework, issued under the ICRC Act 2005 and in line with a presidential directive, was unveiled during a high-level stakeholders’ engagement with ministries, departments, and agencies (MDAs) involved in PPPs. The guidelines are designed to overhaul Nigeria’s infrastructure delivery processes by streamlining approvals, ensuring compliance, and attracting private sector financing.
Director General of the ICRC, Dr. Jobson Oseodion Ewalefoh, who presented the document, said the reforms align with President Bola Ahmed Tinubu’s vision to liberalise the economy and mobilise private investment for infrastructure development.
“These 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,” Ewalefoh said.
He explained that under the new framework, ministries can approve PPP projects valued under N20 billion, while agencies and parastatals have approval authority for projects under N10 billion. The guidelines also provide clear steps for preparing Outline Business Cases, Full Business Cases, and financial models, while standardising procurement processes and PPP agreements.
“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,” the DG added.
Ewalefoh reiterated that the ICRC remains a regulator and facilitator, not an operator or grantor of projects, stressing that the Commission will continue to coordinate negotiations between MDAs and private proponents to ensure agreements are fair, balanced, and implementable.
He noted that the Presidency’s decision to delegate greater approval powers to MDAs comes with heightened accountability and zero tolerance for non-compliance.
The Commission reaffirmed its commitment to working with MDAs, private investors, financiers, and development partners to position Nigeria as Africa’s leading destination for bankable and transformative PPP projects.
Participants at the engagement expressed strong support for the reforms and pledged readiness to begin immediate implementation of the new framework.
PIAK