The Federal Government, through the Infrastructure Concession Regulatory Commission (ICRC), has introduced new guidelines on Public-Private Partnerships (PPPs) that decentralize approval powers to ministries, departments, and agencies (MDAs).
The updated framework establishes the Project Approval Board with new approval thresholds: projects under ₦20 billion for ministries and under ₦10 billion for agencies and parastatals can now be approved at those levels, as authorized by President Bola Ahmed Tinubu.
The guidelines outline steps for preparing the Outline Business Case, Full Business Case, and financial models, while providing direction on procurement methods and PPP agreements.
According to a press release from the Commission on Sunday, the guidelines were developed under the ICRC Act, 2005, and align with a presidential directive to revamp Nigeria’s infrastructure delivery by attracting more private sector investment.
The new framework was formally launched during a high-level stakeholders’ meeting with representatives from all federal MDAs involved in PPPs. ICRC Director-General Jobson Ewalefoh led the presentation, clarifying each section and addressing questions to ensure full understanding.
The reforms support President Tinubu’s vision to liberalize the economy by encouraging innovative private financing for infrastructure projects.
Dr. Ewalefoh emphasized, “These guidelines provide a clear structure for the development and execution of PPP projects nationwide. By decentralizing project approvals, MDAs are empowered to accelerate project delivery, while the ICRC retains its regulatory role to ensure compliance and due diligence for every PPP, regardless of sector or size.”
He also clarified that the ICRC is a regulator—not an operator or grantor—and will continue facilitating negotiations between MDAs and private partners to ensure fair, implementable agreements.
The delegation of approval authority to MDAs comes with increased accountability and strict enforcement of compliance, the ICRC noted.
Finally, the Commission reaffirmed its commitment to working with government agencies, private investors, financiers, and development partners to position Nigeria as Africa’s leading destination for transformative and bankable PPP projects.