The Infrastructure Concession Regulatory Commission (ICRC) has unveiled new guidelines on Public-Private Partnerships (PPPs), decentralizing approval powers to Ministries, Departments, and Agencies (MDAs) in a move aimed at accelerating project delivery and unlocking private sector investments for Nigeria’s ailing infrastructure.
The Commission announced the reforms in a statement on Sunday, explaining that the framework was developed under the ICRC Act of 2005 and aligns with a Presidential directive to overhaul Nigeria’s infrastructure delivery model through PPPs.
The new rules establish a structured process for the conception, development, and execution of PPP projects nationwide. They also grant MDAs greater authority to approve projects, while the ICRC retains oversight responsibilities to ensure compliance, transparency, and accountability.
Register for Tekedia Mini-MBA edition 19 (Feb 9 – May 2, 2026): big discounts for early bird.
Tekedia AI in Business Masterclass opens registrations.
Join Tekedia Capital Syndicate and co-invest in great global startups.
Register for Tekedia AI Lab: From Technical Design to Deployment (next edition begins Jan 24 2026).
Speaking during the launch of the framework at a high-level stakeholders’ engagement, ICRC Director-General Dr. Jobson Oseodion Ewalefoh underscored that the reforms are central to President Bola Ahmed Tinubu’s economic vision of liberalizing and modernizing the nation’s infrastructure financing.
“The new guidelines are in response to President Tinubu’s vision to liberalize the economy and in line with his charge to the ICRC to seek innovative ways to attract private sector finance to build infrastructure through PPPs,” Ewalefoh said. “They decentralize project approvals to empower MDAs for faster delivery while safeguarding the ICRC’s role as regulator of PPPs in Nigeria.”
Ewalefoh clarified that the ICRC will continue to act as a regulator and facilitator, not an operator or grantor of projects, and will remain central to coordinating negotiations between MDAs and private partners to ensure projects are bankable, transparent, and fair.
The Commission also emphasized that while MDAs now enjoy more flexibility, the decentralization comes with stricter accountability measures and a zero-tolerance stance on non-compliance. According to the ICRC, the combination of decentralized approvals and stronger compliance checks is expected to unlock billions of naira in private investment and cement Nigeria’s standing as one of Africa’s leading destinations for transformative infrastructure projects.
The guidelines build on a policy approved by President Tinubu in June 2025, which empowered the ICRC to independently approve projects below N20 billion without seeking Federal Executive Council (FEC) clearance. Under the updated rules, ministries can now greenlight projects under N20 billion, while agencies and parastatals can approve those below N10 billion. Larger projects above the threshold, or those spanning multiple ministries, will still require FEC approval.
To support this process, the framework introduces Project Approval Boards (PABs) within MDAs, tasked with vetting and approving eligible projects, subject to ICRC certification. Crucially, all PPPs must be fully financed by the private sector, with no federal treasury guarantees or commitments. Regardless of scope or value, every project must undergo ICRC’s due diligence before securing final approval.
Analysts say the move signals a bold attempt by the Tinubu administration to close Nigeria’s yawning infrastructure gap, estimated at over $100 billion, while reducing bottlenecks that have historically stalled project delivery.
Why This Matters
Nigeria’s big-ticket PPP projects—roads, bridges, ports, pipelines, and power plants—have historically been hampered by bureaucratic delays, fragmented approval processes, and underfunding. The new ICRC framework, by decentralizing approval authority via MDA-embedded Project Approval Boards (PABs) and streamlining due diligence, aims to:
- Decrease lead times for project selection and contracting.
- Enhance institutional capacity through accountability incentives.
- Attract private capital by offering clarity and regulatory predictability.
- Ensure compliance and value-for-money through ICRC oversight, zero public treasury guarantees, and mandatory private financing.
If applied effectively, this reform could help restart and scale landmark projects like the AKK Gas Pipeline—and put more stalled initiatives back on track.