President Bola Tinubu has empowered the Infrastructure Concession Regulatory Commission (ICRC) to implement a more efficient and better streamlined public-private partnership (PPP) project delivery process.
Jobson Ewalefoh, director-general, ICRC, disclosed this in a statement by Ifeanyi Nwoko, acting head, media and publicity, ICRC on Sunday in Abuja.
Mr Ewalefoh said that the process would involve approving PPP thresholds for ministries, departments, and gencies (MDAs), which will help accelerate Nigeria’s infrastructure revolution.
According to him, until now, all PPP projects, regardless of size, were subjected to Federal Executive Council (FEC) approval, resulting in extended processes and limiting the participation of MDAs with small and mid-scale projects.
Mr Ewalefoh said that the new policy decentralised the approval process.
“It allows MDAs to approve projects below specified thresholds under the ICRC guideline, thereby supporting all scales of projects and encouraging broader private sector investment in PPPs,” he said.
He recalled that at the just-concluded Nigeria PPP Summit, the president declared that his administration was strengthening the ICRC as the “engine room of Nigeria’s infrastructure revolution”.
“The president noted that PPPs would be pivotal in driving transformative development across the country
“Under the new directive, PPP projects valued below N10 billion for parastatals/agencies and N20 billion for ministries will now be approved by respective Project Approval Boards (PABs),” Mr Ewalefoh said.
He said that the boards would be constituted under ICRC guidelines and regulations.
“Only projects exceeding these thresholds or those involving multiple ministries and requiring inter-agency coordination will require FEC approval.
“Importantly, all such projects must be entirely privately funded, with no government guarantees or financial commitments from the treasury.
“ Notwithstanding the new thresholds, every PPP project must be submitted to the ICRC for review and certification.
“The ICRC must issue certificates of compliance before any PPP project can be approved by the PAB and other approving bodies,” he said.
Mr Ewalefoh said that this framework shifted from a one-size-fits-all approach to a more dynamic and scale-sensitive model, enabling low-value but high-impact projects.
He said that the approval was a game-changer, especially for sectors like health, education, agriculture, and housing.
“We expect to see private sector-led investments in projects like rural diagnostic medical centres, construction of classroom blocks and student hostels.
“This will also be seen in the delivery of affordable housing schemes across the country with less bureaucratic requirements under the new adopted process,” he said
He emphasised that the new framework aligned with Mr Tinubu’s broader public procurement reforms, ensuring harmony across the government’s financial and investment systems.
“By decentralising approvals, the government is supporting and unlocking investment opportunities through improved capital inflows, job creation, and faster project delivery, exactly what we need in this current economic climate,” he said.
Mr Ewalefoh said that the ICRC would continue to promote, guide, facilitate and regulate the PPP ecosystem in the country, while collaborating with other agencies in the infrastructure ecosystem.
He listed such agencies to include the Bureau of Public Procurement (BPP), the Ministry of Finance Incorporated (MOFI) and the Bureau of Public Enterprises (BPE).
The D-G enjoined MDAs as project owners and grantors to take advantage of the approved threshold and the new guidelines that will be issued by the commission.
“MDAs are encouraged to embrace the utilisation of PPPs for the delivery of critical infrastructure in delivering on the Renewed Hope Agenda of Mr president.”
(NAN)