ABUJA — President Bola Ahmed Tinubu says his administration has transformed the Infrastructure Concession Regulatory Commission (ICRC) into a central force for delivering public-private partnership (PPP) projects across Nigeria.
Speaking at the 2025 Nigeria Public-Private Partnership Summit held at the State House Banquet Hall, Tinubu stated that the ICRC has been strengthened to not only regulate PPPs but also to de-risk, fast-track, and ensure real project outcomes.
He declared that the move was not a routine bureaucratic upgrade but a structural reset designed to align policy with execution and boost infrastructure development nationwide. According to the president, his administration came to transform governance, not maintain the status quo.
Tinubu stressed that the country’s infrastructure ambitions go far beyond the limits of public funding, hence the need for innovation and collaboration. He told summit participants that the government is offering opportunities to create value, not burdens, and reiterated the importance of transparency, streamlined processes, and coordinated efforts across Ministries, Departments, and Agencies to fast-track project execution.
Referencing the National Integrated Infrastructure Master Plan, the president reaffirmed his goal of raising Nigeria’s infrastructure stock to at least 70% of GDP by 2043. He said achieving such ambitious goals would require collective action, not just plans or policies.
In his closing remarks, Tinubu urged the private sector to bring more than capital to the table—calling for innovation, integrity, and long-term commitment. He said the summit should be remembered for signed deals, bankable projects, and measurable progress.
The Director-General of the ICRC, Dr. Jobson Oseodion Ewalefoh, in his welcome address, said the Renewed Hope Agenda has triggered a bold recalibration of public policy, placing infrastructure at the core of national development. He commended the administration’s bold embrace of PPPs, describing them not merely as a funding mechanism but as a governance model rooted in innovation, efficiency, and accountability.
Ewalefoh highlighted a range of PPP projects currently being implemented, including the Highway Development and Management Initiative (HDMI), the MediPool medical infrastructure programme, the Ikere Gorge Dam, the Borokiri Fishing Terminal, and the MEMS platform. He emphasized that the ICRC is no longer just a regulator but also a facilitator of investment, committed to ensuring that PPPs are legally sound, economically viable, and socially impactful.
He credited President Tinubu’s leadership for streamlining internal processes and directing all MDAs to strictly comply with ICRC laws and guidelines—steps that have strengthened the commission’s role and efficiency in project delivery.
The summit brought together key stakeholders in Nigeria’s infrastructure landscape, including representatives from critical federal ministries and state governments. International development partners such as the World Bank, IFC, AfDB, Afreximbank, and Africa50 participated alongside leading private sector investors like Lekki Deep Sea Port, Mainstream Energy, PAC Capital, Catamaran Group, and Transgrid Enerco.
Discussions focused on innovative PPP financing, investment opportunities in transport and energy, and lessons from successful infrastructure projects within and outside Nigeria, including the Senegambia Bridge, Cape Verde Wind Power Project, and Lekki Deep Sea Port.
