The Federal Executive Council has approved three major Public-Private Partnership (PPP) projects worth more than N6.43 trillion, marking another significant influx of private-sector investment into Nigeria’s infrastructure sector.
The approved projects — two deep seaports and a 460MW hydropower plant — represent the second batch of PPP initiatives cleared within a month, reflecting President Bola Tinubu’s strategy to drive economic growth through private capital under the Renewed Hope Agenda.
The approvals were confirmed in a statement by Jobson Ewalefoh, Director-General of the Infrastructure Concession Regulatory Commission (ICRC). He said the projects highlight the growing impact of the government’s reform efforts.
According to the statement, the three PPP projects will inject over N6.43tn (about $4.29bn) into the economy, demonstrating the administration’s commitment to private-sector-led infrastructure development.
Ewalefoh noted that strengthened regulations, clearer policies, and ongoing economic reforms have boosted investor confidence, enabling the government to attract substantial long-term investments.
The newly approved projects include:
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$2.27bn Bakassi Deep Seaport
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$1.14bn Port of Ondo Deep Seaport
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$878.1m Katsina-Ala Hydropower Plant
All three will be fully financed, built, and operated by private investors.
He explained that the Bakassi Deep Seaport, a greenfield project, will serve as a major maritime hub for the North-Central and North-East regions, while also enhancing West and Central African trade routes.
The Port of Ondo Deep Seaport is expected to unlock the region’s solid minerals and agro-allied value chains, positioning the state as a new logistics and export corridor.
On the hydropower project, Ewalefoh said the 460MW Katsina-Ala plant will help address Nigeria’s electricity shortfall and expand its renewable-energy capacity. The $878m project will supply essential power to the national grid and boost regional economic activity.
These approvals follow three earlier PPP greenlights issued in November — the Product Authentication and Tracking System, the V-PASS biometric verification platform, and the Port Harcourt International Airport concession — which collectively attracted $230.9m in private investment.
With this latest announcement, the number of PPP projects approved in 2025 has surpassed 13, cutting across aviation, maritime, health, power, and industrial sectors. Other approved projects this year include the MediPool initiative, NIMASA’s Maritime Electronic Management System, the Ikere Gorge 6MW Hydropower Plant, the Borokiri Coastal Fisheries Terminal, the Farin Ruwa 20MW Hydropower Project, and the Enugu International Airport concession.
Ewalefoh praised President Tinubu for consistently supporting the ICRC and strengthening regulatory frameworks, which he said have positioned the Commission as the central driver of PPP development in Nigeria.
With limited public revenue and increasing fiscal pressures, Nigeria has been relying more on PPPs to upgrade critical infrastructure. The model allows private investors to fund, construct, and operate major assets—particularly in the transport and energy sectors—under long-term concession agreements.
This approach is key to narrowing Nigeria’s infrastructure gap, with the country requiring an estimated $100bn annually in investment to meet its development needs.
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