The Federal Executive Council (FEC) has approved three major Public-Private Partnership projects valued at more than N6.43 trillion (4.29 billion dollars) to strengthen Nigeria’s infrastructure, enhance economic competitiveness, and attract private-sector investment nationwide.
The Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Dr Jobson Ewalefoh, announced the approvals in a statement issued by Acting Head of Media, Ifeanyi Nwoko, in Abuja on Friday, explaining the significance for the economy.
Ewalefoh said the approvals reflected the practical outcomes of President Bola Tinubu’s Renewed Hope Agenda, which emphasised private-sector-led infrastructure development as a catalyst for national growth, economic competitiveness, and large-scale job creation.
According to him, the rising inflow of foreign direct investments into Nigeria is a direct result of policy clarity, economic liberalisation, and strengthened regulatory institutions under the current government’s reform initiatives.
He disclosed that the newly approved projects form the second batch of seven PPP initiatives endorsed by FEC within the last month, all under the regulatory supervision and oversight of the ICRC.
“The three projects, fully funded by private investors, include the Bakassi Deep Seaport (2.27 billion dollars) and the Port of Ondo Deep Seaport (1.14 billion dollars), along with the 460MW Katsina-Ala Hydropower Plant.”
Ewalefoh said the projects reaffirmed the government’s commitment to leveraging PPPs as strategic instruments to accelerate economic growth, encourage technology transfer, and achieve sustainable development across multiple critical infrastructure sectors.
He explained that the Bakassi Deep Seaport would serve as a new maritime gateway for North-Central and North-East Nigeria, while the Port of Ondo Deep Seaport would unlock solid minerals and agro-allied potential.
On the Katsina-Ala Hydropower Plant, Ewalefoh said the renewable-energy project would inject reliable base-load electricity into the national grid, stimulating industrial and economic activities across the North-Central region and beyond.
He described the approved projects as “decisive, multi-sectoral investments” addressing Nigeria’s infrastructure gaps, noting that the two deep seaports alone, valued at over 3.4 billion dollars, would optimise maritime trade routes and reduce pressure on existing ports.
Ewalefoh added that the Bakassi Deep Seaport, a greenfield development, would accommodate large vessels, integrate an industrial cluster, and establish a Free Trade Zone, creating thousands of jobs and boosting Nigeria’s maritime competitiveness.
On the Katsina-Ala project, he said its 878 million-dollar investment demonstrates a strategic shift toward cleaner, sustainable power solutions capable of transforming regional productivity and strengthening Nigeria’s national energy supply.
The D-G recalled that in November, FEC approved an earlier batch of three PPP projects, which included the Product Authentication and Tracking System (PATS), the V-PASS biometric verification platform, and the Port Harcourt International Airport concession.
Those projects, he said attracted a combined private investment of 230.9 million dollars, further solidifying the government’s commitment to expanding infrastructure through public-private partnerships and driving economic development.
He added that the approvals brought the total number of PPP projects endorsed in 2025 to at no fewer than 13, reflecting the government’s commitment to private-sector-led infrastructure development and economic growth.
The projects include MediPool, the Maritime Electronic Management System (MEMS), Ikere Gorge Hydropower Plant, Coastal Fisheries Terminal (Borokiri), Farin Ruwa 20MW Hydropower Project, and the Enugu International Airport concession.
Ewalefoh expressed appreciation to President Tinubu for his sustained support, noting that the administration’s commitment to regulatory strengthening had positioned the ICRC as the driving force of PPP infrastructure development across Nigeria.
He added that the consistent approvals reflected President Tinubu’s confidence in the commission’s mandate and further empowered the agency to deliver greater value, stimulate economic growth, and accelerate national infrastructure development for all Nigerians.
