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Tinubu approves new PPP thresholds - empowers ICRC to fast-track projects

President Bola Ahmed Tinubu has approved new thresholds for Public-Private Partnership (PPP) project approvals, empowering the Infrastructure Concession Regulatory Commission (ICRC) to lead a more decentralised and efficient delivery system.

The new directive allows Ministries, Departments, and Agencies (MDAs) to approve PPP projects valued under ₦20 billion, subject to ICRC certification and guidelines.

This policy shift removes the mandatory Federal Executive Council (FEC) approval for all PPP projects, a move that had previously prolonged timelines and hindered smaller-scale initiatives.

According to the ICRC Director General, Dr Jobson Oseodion Ewalefoh, projects under ₦10 billion for parastatals and ₦20 billion for ministries can now be approved by newly constituted Project Approval Boards (PABs), as long as they are entirely privately funded.

“This approval is a game-changer. We expect to see investments in rural diagnostic centres, classroom blocks, hostels, and affordable housing delivered with less bureaucracy,” Ewalefoh noted.

Health, Education, and Housing Sectors to Benefit

Dr. Ewalefoh emphasised that the new thresholds will particularly benefit sectors such as health, education, agriculture, and housing, enabling the faster delivery of low-value, high-impact projects.

He stressed that all projects must still be submitted to the ICRC for compliance certification before approval.

“The ICRC must issue certificates of compliance before any PPP project can move forward,” he added.

The reform aligns with President Tinubu’s broader public procurement overhaul and is expected to unlock investment opportunities, boost capital inflows, and accelerate job creation.

“By decentralising approvals, the government is supporting faster project delivery—exactly what we need in this economic climate,” Ewalefoh said.

He encouraged MDAs to leverage the new policy and forthcoming guidelines to drive infrastructure delivery under the Renewed Hope Agenda.

The ICRC, he assured, will continue collaborating with the Bureau of Public Procurement, the Ministry of Finance Incorporated, and the Bureau of Public Enterprises.

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