The Infrastructure Concession Regulatory Commission (ICRC) has released new guidelines to govern the development and implementation of all public-private partnership (PPP) projects in Nigeria.

The framework, issued under the statutory powers of the ICRC Act, 2005, and in compliance with a Presidential directive, was unveiled during a high-level stakeholders’ engagement with representatives of Ministries, Departments and Agencies (MDAs) involved in PPPs.

The guidelines outline requirements for setting up a Project Approval Board in line with new thresholds approved by the President, under N20 billion for ministries and under N10 billion for agencies and parastatals. They also provide steps for preparing the Outline Business Case (OBC), Full Business Case (FBC), and financial models, as well as directions on procurement processes and PPP agreements.

Director General of the ICRC, Dr. Jobson Ewalefoh, who presented the framework, took stakeholders through each section and responded to questions to ensure a clear understanding.

He said the new guidelines align with President Bola Tinubu’s vision to liberalise the economy and attract private sector financing to accelerate infrastructure delivery through PPPs.

“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,” Ewalefoh said.

He clarified that the ICRC is a regulator of PPPs, not an operator or grantor of projects, and will continue to facilitate negotiations between MDAs and private proponents to ensure fair and implementable agreements.

According to him, the Presidency’s decision to delegate greater approval authority to MDAs, with the ICRC providing regulatory oversight, comes with heightened accountability and zero tolerance for non-compliance.

At the end of the engagement, participants expressed support for the reforms and readiness to implement the new guidelines.

The ICRC reaffirmed its commitment to work with MDAs, private investors, financiers and development partners to position Nigeria as Africa’s leading destination for bankable and transformative PPP projects.