ICRC Eyes PPPs To Tackle $2.3tn Infrastructure Gap
The Infrastructure Concession Regulatory Commission is leveraging more Public Private Partnership agreements to tackle the current infrastructure gaps in the country, which is estimated at over $2.3tn.
The Director-General of the ICRC, Dr. Jobson Ewalefoh said this on Tuesday at the Nigeria PPP Summit 2025 in Abuja.
The event was organized by the ICRC to foster dialogue between government, private investors, development partners, and civil society on leveraging PPPs for national development.
With the theme “Unlocking Nigeria’s Potential: The role of Public-Private Partnerships in delivering the Renewed Hope Agenda,” the summit aims to promote sustainable, private-sector-driven growth through innovative partnerships.
Ewalefoh commended President Bola Tinubu for his decisive support in accelerating Nigeria’s Public-Private Partnership (PPP) initiatives, noting that the administration’s ‘Renewed Hope Agenda’ is fast reshaping the country’s infrastructure landscape.
The DG highlighted several PPP-backed projects under the current administration, including the Highway Development and Management Initiative (HDMI), the MediPool medical infrastructure initiative, the Ikere Gorge Dam, the Borokiri Fishing Terminal, and the MEMS platform.
He emphasized that Nigeria remains open for business and ready for partnerships, pointing to its 200 million population, growing middle class, abundant resources, and an infrastructure deficit.
He said, “Let me assure our local and international investors: Nigeria is open for business — and more importantly, ready for partnership. With over 200 million people, a growing middle class, rich natural endowments, and an enormous infrastructure gap estimated at over $2.3tn — the case for PPPs in Nigeria is not only compelling, it is urgent.
“At the ICRC, we are aligning regulation with facilitation, compliance with collaboration. We are committed to ensuring that every PPP transaction is not just legally sound but economically viable and socially impactful. The Commission stands ready to walk this journey with all partners — from project conceptualization to financial close and beyond.”
According to Ewalefoh, the ICRC is aligning regulation with facilitation and is committed to ensuring that every PPP transaction is legally sound, economically viable, and socially impactful.
He acknowledged Tinubu’s support, including his directive in 2024 for all Ministries, Departments and Agencies (MDAs) to strictly comply with the ICRC Act and PPP Guidelines.
He noted that prospective investors are routinely directed by the president to engage directly with the ICRC, thereby reinforcing its role as the statutory gateway for all federal PPPs.
ICRC Eyes PPPs To Tackle $2.3tn Infrastructure Gap is first published on The Whistler Newspaper
