The Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Dr. Jobson Ewalefoh, has stated that Nigeria urgently needs Public-Private Partnerships (PPPs) involving both local and foreign investors to address the nation’s $2.3 trillion infrastructure gap.
He made the observation on Tuesday at the ongoing Nigeria Public-Private Partnership (PPP) Summit 2025, held at the State House Banquet Hall in Abuja, an event attended by Naijaonpoint.
The summit, themed “Unlocking Nigeria’s Potential: The Role of Public-Private Partnerships in Delivering the Renewed Hope Agenda,” was graced by several Federal Ministers, officials from Afreximbank, the African Development Bank (AfDB), the Regional Director of the International Finance Corporation (IFC), among others.
In his opening remarks, Ewalefoh stressed that investors should take advantage of Nigeria’s open market.
“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 $2.3 trillion — the case for PPPs in Nigeria is not only compelling, it is urgent,” he said.
The DG explained that under the administration of President Bola Tinubu, Nigeria has witnessed a bold recalibration of public policy, prioritizing infrastructure as the engine of inclusive growth.
“In 2024, he directed that all MDAs must strictly comply with the ICRC Act and Guidelines in all PPP transactions — a clear statement of his commitment to rule-based, transparent infrastructure development.
“He has preserved the integrity of our regulatory mandate, never interfering with our processes. Instead, he routinely directs prospective investors and partners to engage directly with the ICRC — reinforcing our role as the statutory gateway for all federal PPPs.
“Under his leadership, we have witnessed unprecedented speed in the approval of PPP proposals before the Federal Executive Council (FEC). This presidential support is enabling us to fast-track critical national projects, including the Dasin Hausa Dam in Adamawa State — a life-saving infrastructure that will mitigate the perennial devastation caused by water released from the Lagdo Dam in Cameroon,” he added.
Speaking as Guest of Honour at the summit, President Tinubu, represented by Vice President Kashim Shettima, urged private sector partners not just to provide capital but to show commitment to Nigeria’s infrastructure demands.
“To our private sector partners, we ask not just for capital, but for commitment. Nigeria offers scale, demand, and returns like no other African market,” he said, adding that the nation needs more than investment.
“We need innovation, we need efficiency, and above all, we need integrity. I urge you to look beyond the risks and recognize the immense opportunity to shape a nation that is not just rising, but ready,” he said.
“Our economic reforms have laid a stable foundation.
“From the removal of unsustainable subsidies to the liberalization of the foreign exchange regime and the optimization of government revenues, we have acted boldly and responsibly.
“We are streamlining bureaucratic bottlenecks and improving transparency in our project pipelines. We have aligned our processes with global best practices and investor expectations,” he added.
Shettima subsequently declared the 2025 Nigeria Public-Private Partnership Summit open.
Shettima subsequently declared the 2025 Nigeria Public-Private Partnership Summit open.