The Infrastructure Concession Regulatory Commission (ICRC) has released new guidelines to fast-track public-private partnership (PPP) projects, decentralising approval powers.
The framework, issued under the statutory powers of the ICRC Act of 2005, and in compliance with a presidential directive, was unveiled during a high-level stakeholders’ engagement with representatives of ministries, departments and agencies (MDAs) involved in PPPs.
According to the new guidelines, ministries can now approve projects valued below N20 billion, while agencies and parastatals are authorised to handle projects under N10 billion.
The commission said a project approval board will also be established to oversee the process.
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The guidelines also detail requirements for preparing outline business cases (OBCs), full business cases (FBCs), financial models, procurement routes, and compliance steps.
Presenting the framework in Abuja, Jobson Ewalefoh, the director-general of the ICRC, said the rules are central to President Bola Tinubu’s agenda of liberalising the economy and unlocking private capital for infrastructure.
“These rules establish a definitive framework for the conception, development, and execution of PPP projects in Nigeria,” Ewalefoh said in a statement on Sunday.
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“They empower MDAs to deliver faster while safeguarding the ICRC’s regulatory role. Every project, regardless of size or sector, must strictly comply with these provisions.”
Ewalefoh stressed that the commission remains a regulator not an operator or grantor of projects.
He said the organisation would continue to facilitate negotiations between MDAs and private proponents to ensure fairness and bankable agreements.
“While approvals are being decentralised, the presidency has reinforced accountability, with the ICRC warning of zero tolerance for non-compliance,” Ewalefoh said.
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The commission pledged to work with MDAs, private investors, financiers, and development partners to reposition Nigeria as Africa’s leading hub for PPP investments.
