President Bola Tinubu has approved a sweeping reform that empowers the Infrastructure Concession Regulatory Commission (ICRC) to grant independent approvals for Public-Private Partnership (PPP) projects valued below ₦20 billion, in a move aimed at accelerating infrastructure development and reducing bureaucratic bottlenecks.
According to a statement issued by the ICRC’s Director-General, Dr. Jobson Ewalefoh, through the Acting Head of Media, Ifeanyi Nwoko, on Sunday, the new policy shifts significant approval powers away from the often slow-moving federal processes and into the hands of ministries, departments, and agencies (MDAs).
“This policy change eliminates the delays that have traditionally hindered the approval of small and mid-scale infrastructure projects,” Ewalefoh said.
Under the new structure:
Ministries can now independently approve PPP projects below ₦20 billion.
Agencies and parastatals are authorised to approve PPP deals under ₦10 billion.
Project Approval Boards (PABs) will be created under ICRC guidelines to screen and approve these proposals.
However, any multi-ministry projects or those exceeding the threshold still require Federal Executive Council (FEC) approval.
Ewalefoh emphasized that no federal funds will be committed, as all PPPs must be entirely privately financed, though each proposal—regardless of size—must still be reviewed and cleared by the ICRC.
The ICRC said this decentralisation is especially impactful for sectors like:
Health (e.g. rural diagnostic centres)
Education (e.g. new classroom blocks, hostels)
Agriculture
Affordable housing
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These sectors often propose smaller-scale but high-impact projects that were previously bogged down in lengthy approval processes.
“This new framework supports scalable development and makes PPPs more attractive to private investors,” Ewalefoh added.
The policy is part of Tinubu’s broader drive to modernise Nigeria’s public procurement processes and attract greater private investment to close the country’s infrastructure gap.
The ICRC said it will coordinate with key government bodies like:
Bureau of Public Procurement (BPP)
Ministry of Finance Incorporated (MOFI)
Bureau of Public Enterprises (BPE)
to ensure consistency and compliance across the board.
The presidency has also confirmed its full support for the directive, calling it a “bold step toward transformative development.”