Tinubu empowers ICRC to implement approval thresholds for PPP projects

President Bola Ahmed Tinubu has empowered the Infrastructure Concession Regulatory Commission (ICRC) to implement a more efficient and better streamlined Public-Private Partnership (PPP) project delivery process by approving PPP thresholds for Ministries, Departments, and Agencies (MDAs).

In a statement Sunday by Acting Head, Media and Publicity of ICRC, Ifeanyi Nwoko, the new policy decentralizes the approval process, allowing MDAs to approve projects below specified thresholds under ICRC guideline.

Analysts say this will support various projects and encourage broader private sector investment in PPPs.

Until now, all PPP projects—regardless of size—were subjected to Federal Executive Council (FEC) approval, resulting in extended processes and limiting the participation of MDAs with small and mid-scale projects.

At the just concluded Nigeria PPP Summit 2025, President Tinubu declared that his administration was strengthening the ICRC as the “engine room of Nigeria’s infrastructure revolution,” noting that PPPs would be pivotal in driving transformative development across the country.

Director General of the ICRC, Dr Jobson Oseodion Ewalefoh, who disclosed the presidential approval, said: “Under the new directive, PPP projects valued below ₦10 billion for Parastatals/Agencies and ₦20 billion for Ministries will now be approved by respective Project Approval Boards (PABs) that will be constituted under ICRC guidelines and regulations. Only projects exceeding these thresholds—or those involving multiple Ministries and requiring inter-agency coordination—will require FEC approval.

“Importantly, all such projects must be entirely privately funded, with no government guarantees or financial commitments from the treasury. Notwithstanding the new thresholds, every PPP project must be submitted to the ICRC for review and certification. The ICRC must issue certificates of compliance before any PPP project can be approved by the PAB and other approving bodies.”

Dr Ewalefoh explained that this framework marks a shift from the previously adopted one-size-fits-all approach, to a more dynamic and scale-sensitive model that will unlock low-value but high-impact projects.

“This approval is a game-changer, especially for sectors like health, education, agriculture, and housing. We expect to see private sector- led investments in projects like rural diagnostic medical centers, construction of classroom blocks, student hostels and delivery of affordable housing schemes across the country—with less bureaucratic requirements under the new adopted process.” he added.

The ICRC DG emphasized that the new framework aligns with President Tinubu’s broader public procurement reforms, ensuring harmony across the government’s financial and investment systems.