ICRC has unveiled new PPP guidelines, decentralising approvals to ministries and agencies to fast-track infrastructure projects nationwide.”
ICRC has unveiled new PPP guidelines, decentralising approvals to ministries and agencies to fast-track infrastructure projects nationwide.”
The Infrastructure Concession Regulatory Commission (ICRC) has unveiled new guidelines aimed at fast-tracking public-private partnership (PPP) projects by decentralising approval powers to ministries, agencies, and parastatals.
The framework, issued under the ICRC Act of 2005 and in line with a presidential directive, was presented during a high-level stakeholders’ engagement with representatives of ministries, departments, and agencies (MDAs) involved in PPPs.
Under the new rules, ministries can now approve projects valued below N20 billion, while agencies and parastatals are authorised to handle projects under N10 billion. The commission also announced plans to establish a project approval board to oversee the process.
The guidelines set out detailed requirements for preparing outline business cases (OBCs), full business cases (FBCs), financial models, procurement routes, and compliance steps.
Presenting the framework in Abuja, Jobson Ewalefoh, director-general of the ICRC, said the rules are central to President Bola Tinubu’s agenda of liberalising the economy and unlocking private capital for infrastructure.
“These rules establish a definitive framework for the conception, development, and execution of PPP projects in Nigeria,” Ewalefoh said. “They empower MDAs to deliver faster while safeguarding the ICRC’s regulatory role. Every project, regardless of size or sector, must strictly comply with these provisions.”
He emphasised that the commission remains a regulator, not an operator or grantor of projects, and will continue to facilitate negotiations between MDAs and private proponents to ensure fairness and bankable agreements.
“While approvals are being decentralised, the presidency has reinforced accountability, with the ICRC warning of zero tolerance for non-compliance,” Ewalefoh added.
The commission pledged to work with MDAs, private investors, financiers, and development partners to reposition Nigeria as Africa’s leading hub for PPP investments.
Easily access major global news with a strong focus on Africa. As well as the main stories of the day, we like to accentuate positive stories about Africa across all genres including Politics, Business, Commerce, Science, Sports, Arts & Culture, Showbiz and Fashion.
We broadcast 24 hours a day from our studios in London and New York and can be seen here in the UK and across Europe on the Sky platform (Sky channel 516), Freeview (Channel 136) as well as in the USA on the Centric channel and also on the Hot bird platform, which transmits to Europe, North Africa and the Middle East.
—
*Source: [https://www.arise.tv/category/global](https://www.arise.tv/category/global)*