By Ayomide Otitoju
President Bola Tinubu has approved a major policy shift authorising the Infrastructure Concession Regulatory Commission (ICRC) to independently approve Public-Private Partnership (PPP) projects valued below ₦20 billion, eliminating long-standing bureaucratic hurdles for small and mid-scale infrastructure initiatives.
The new directive, confirmed on Sunday by the ICRC and the Presidency, allows ministries to greenlight PPP projects up to ₦20 billion, while agencies and parastatals can approve projects under ₦10 billion. All approvals must still comply with ICRC guidelines and be certified by the Commission before execution.
According to ICRC Director-General Dr. Jobson Ewalefoh, the move is intended to streamline project delivery and attract broader private sector investment, particularly in critical sectors like health, education, agriculture, and housing.
“This policy will fast-track Nigeria’s infrastructure revolution by supporting all scales of projects and encouraging timely private sector participation,” Ewalefoh said in a statement issued by Acting Head of Media, Ifeanyi Nwoko.
He noted that Project Approval Boards (PABs) will now be established within MDAs to approve eligible projects, while only multi-ministerial or large-scale PPPs above the stated thresholds will still require Federal Executive Council (FEC) approval.
All projects under the new framework must be fully privately funded, with no financial guarantees or commitments from the federal treasury.
Ewalefoh described the reform as a “game-changer,” especially for smaller projects like rural diagnostic centres, student hostels, classroom blocks, and affordable housing, which often face delays under the previous system.
He added that the policy aligns with President Tinubu’s broader public procurement reforms and that the ICRC will collaborate with key institutions including the Bureau of Public Procurement (BPP), Ministry of Finance Incorporated (MOFI), and the Bureau of Public Enterprises (BPE) to ensure compliance and coordination.
