FG strengthens infrastructure through presentation of new PPP guidelines
FILE: DG ICRC, Dr Jobson Ewalefoh
FG enhances infrastructure through presentation of new PPP guidelines
The Federal Government, through the Infrastructure Concession Regulatory Commission, has issued new guidelines on Public-Private Partnerships, Decentralising Approval Powers to ministries, departments, and agencies.
The guidelines provide directions and requirements to set up the Project Approval Board for the new approval thresholds of under N20 billion for ministries and N10 billion for agencies and parastatals as approved by the President.
It provides steps for preparing the Outline Business Case, Full Business Case, and financial model; and guides the procurement routes, PPP agreement, among others.
It said the new guidelines were introduced to regulate the development and implementation of all PPP projects in Nigeria to accelerate and attract private sector investment.
The disclosure was contained in a press release issued by the Commission on Sunday, stating that the framework was developed under the ICRC Act, 2005, and in line with a presidential directive aimed at overhauling Nigeria’s infrastructure delivery through PPPs.
It was formally unveiled during a high-level stakeholders’ engagement with representatives from all MDAs of the federal government directly involved in PPPs.
The Director General of the ICRC, Jobson Ewalefoh, presented the guidelines, taking stakeholders through each section, responding to questions, and clarifying points to ensure a clear understanding.
“The new guidelines are in response to President Bola Ahmed Tinubu’s vision to liberalise the economy and in line with his charge to the ICRC to seek innovative ways to attract private sector finance to build infrastructure through PPPs.
By the end of the engagement, participants expressed strong support for the reforms and a readiness to immediately begin implementing the new guidelines.
While presenting the guidelines, Dr. Ewalefoh stressed, “These rules establish a definitive framework for the conception, development, and execution of PPP projects in Nigeria. They decentralise project approvals to empower MDAs for faster delivery while safeguarding the ICRC’s role as regulator of PPPs in Nigeria.
“Every PPP project, regardless of sector, scale, or origin, must strictly comply with these provisions. Every project shall be subjected to our due diligence and compliance requirements.” He said.
He re-emphasised the role of the ICRC as a regulator of PPPs and not an operator or grantor of projects, and informed the participants that the commission will continually facilitate and coordinate negotiations between MDAs and private proponents to ensure that the terms and conditions of agreements are fair to parties and implementable.
He underscored that the Presidency’s decision to delegate greater approval authority to MDAs, with ICRC regulating the process, also comes with heightened accountability and zero tolerance for non-compliance.
The ICRC reaffirmed its commitment to collaborate with MDAs, private investors, financiers, and development partners to reposition Nigeria as the continent’s leading destination for bankable and transformative PPP projects.
