President Bola Tinubu has approved a new policy authorising the Infrastructure Concession Regulatory Commission (ICRC) to independently approve Public-Private Partnership (PPP) projects below N20 billion—removing the need for Federal Executive Council (FEC) clearance in such cases.
Under the directive, ministries can now approve PPPs under N20 billion, while agencies and parastatals can handle those below N10 billion.
The policy is designed to fast-track project delivery and attract more private investment into infrastructure.
ICRC Director-General, Dr. Jobson Ewalefoh, announced the development in a statement released Sunday by the commission’s Acting Head of Media, Ifeanyi Nwoko, as reported by the News Agency of Nigeria (NAN). He said the change eliminates bureaucratic delays that previously hindered small and mid-scale projects by MDAs.
“President Bola Tinubu has empowered the Infrastructure Concession Regulatory Commission (ICRC) to implement a more efficient and better streamlined Public-Private Partnership (PPP) project delivery process.
“Dr Jobson Ewalefoh, Director -General ICRC, disclosed this in a statement by Ifeanyi Nwoko, Acting Head, Media and Publicity, ICRC on Sunday in Abuja. Ewalefoh said that the process would involve approving PPP thresholds for Ministries, Departments, and Agencies (MDAs), which will help accelerate Nigeria’s infrastructure revolution,” the NAN report read in part.
It further quoted Ewalefoh as saying, “It allows MDAs to approve projects below specified thresholds under the ICRC guideline, thereby supporting all scales of projects and encouraging broader private sector investment in PPPs.
“The President noted that PPPs would be pivotal in driving transformative development across the country. Under the new directive, PPP projects valued below N10 billion for parastatals/agencies and N20 billion for ministries will now be approved by respective Project Approval Boards (PABs).”
Dr. Ewalefoh explained that the new framework enables the creation of Project Approval Boards (PABs), under ICRC guidelines, to vet and approve eligible projects. However, projects exceeding the set thresholds or involving multiple ministries will still require Federal Executive Council (FEC) approval.
He noted that all PPP projects must be fully privately funded, with no financial guarantees or commitments from the federal treasury. Regardless of value, each project must be reviewed and certified by the ICRC before receiving final approval from any MDA or PAB.
Ewalefoh described the policy as a game-changer for critical sectors such as health, education, agriculture, and housing, where smaller but impactful projects can now proceed without prolonged delays. These include rural diagnostic centres, classroom blocks, student hostels, and affordable housing schemes.
He urged MDAs to leverage the revised thresholds and forthcoming guidelines to drive infrastructure development under the Renewed Hope Agenda.