Shettima to investors: Take advantage of opportunities in Nigeria’s $2.3trn infrastructure gap

The federal government has reaffirmed its commitment to unlocking Nigeria’s infrastructure potential through robust public-private partnerships (PPPs), calling on investors to seize emerging opportunities in Africa’s largest economy.

Vice-President Kashim Shettima spoke at the opening ceremony of the 2025 Nigeria public-private partnership (PPP) summit on Tuesday in Abuja.

The summit was themed ‘Unlocking Nigeria’s Potential: The Role of Public-Private Partnerships in Delivering the Renewed Hope Agenda’.

Speaking at the event, Shetimma said Nigeria can no longer rely on outdated models of infrastructure delivery.

“We cannot build a 21st-century economy on 20th-century infrastructure,” he said.

“Our national aspirations far exceed what public budgets alone can deliver. We are not looking for investors to carry burdens — we are offering opportunities to create value.”

Shettima said the administration had taken decisive steps to improve the enabling environment for private capital by strengthening the Infrastructure Concession Regulatory Commission (ICRC) and streamlining bureaucratic processes.

“Our reforms — from subsidy removal to FX liberalisation and revenue optimisation — have laid a stable foundation,” he said.

“We’re improving transparency, aligning with global best practices, and fast-tracking approvals for viable projects.”

The vice-president urged investors to look beyond the risks and recognise the scale of opportunity in Nigeria, citing a population of over 200 million, a growing middle class, and an infrastructure gap estimated at $2.3 trillion.

“Nigeria offers scale, demand, and returns like no other African market. But we need more than investment — we need innovation, efficiency, and integrity,” the politician said.

“Let this summit be remembered not for fine speeches but for bankable projects, signed deals, and enduring progress.”

Also speaking at the summit, Jobson Ewalefoh, director-general of the ICRC, said the government’s infrastructure ambitions can only be achieved through strategic partnerships.

“With a $2.3 trillion infrastructure deficit, the case for PPPs in Nigeria is not only compelling — it is urgent,” Ewalefoh said.

The ICRC boss described the summit as “a rallying call for transformation and a bridge between national aspirations and tangible development.”

He praised the Tinubu administration for “repositioning infrastructure” at the centre of the ‘Renewed Hope’ agenda and embracing PPPs as “not just a funding mechanism but a governance model that rewards innovation, efficiency, and accountability”.

Ewalefoh said ongoing PPP projects in the country are the highway development and management initiative, the MediPool medical infrastructure scheme, the Ikere gorge dam project, the Borokiri fishing terminal, and the MEMS platform.

“These projects show that the Renewed Hope Agenda is no longer a vision deferred,” he said.

He added that the ICRC is committed to aligning regulation with facilitation and ensuring that every PPP transaction is legally sound, economically viable, and socially impactful.

Ewalefoh said the commission will “support investors across the entire lifecycle of their projects from conception to financial close”.