FEC attracts $4.29 billion investments to Nigeria through new PPP challenge approvals – ICRC 

The Federal Government Council (FEC) has authorized three Public-Personal Partnership (PPP) tasks, attracting an injection of over N6.43 trillion (roughly $4.29 billion) in personal capital into the Nigerian economic system.

The event was introduced by the Infrastructure Concession Regulatory Fee (ICRC) in a press launch shared with Nairametrics on Friday.

The newly authorized tasks embrace the Bakassi Deep Seaport ($2.27bn  Federal Ministry of Marine and Blue Economic system), the Port of Ondo Deep Seaport ($1.14bn Federal Ministry of Marine and Blue Economic system), and the Katsina-Ala Hydropower Plant ($878.1m Federal Ministry of Water Assets and Sanitation).

Based on the ICRC, the tasks are to be totally financed by the personal sector. This brings the variety of PPP tasks authorized in 2025 alone to over 13.

What the ICRC DG Is Saying 

The Director-Common of the Infrastructure Concession Regulatory Fee, Dr. Jobson Oseodion Ewalefoh, said that the rising influx of overseas direct investments is a direct final result of President Bola Ahmed Tinubu’s reform agenda, which mixes coverage readability, financial liberalisation, and strengthened regulatory establishments.

Based on him, these reforms are translating into tangible outcomes for Nigeria, “as evidenced by the dimensions and high quality of PPP tasks authorized in latest months.” 

The Fee disclosed that the newly authorized tasks, which represent the second batch of seven PPP initiatives, had been endorsed by the Council final month below the regulatory steerage of the ICRC.

Ewalefoh stated the brand new tasks—totalling over $4.29 billion in personal sector funding—reaffirm the Federal Authorities’s resolve to leverage PPPs as strategic devices for financial development, know-how switch, and sustainable improvement.

He defined that the Bakassi Deep Seaport will function a brand new maritime gateway for Nigeria’s North-Central and North-East areas and as a significant hub for West and Central Africa, whereas the Port of Ondo Deep Seaport will unlock the South-West’s strong mineral and agro-allied potential.

He added that the 460MW Katsina-Ala Hydropower Plant, a renewable-energy challenge, will inject regular baseload energy into the nationwide grid and stimulate financial exercise within the North-Central area and past.

“These are decisive, multi-sectoral funding portfolios that straight tackle nationwide wants. The approval of the 2 deep seaport tasks alone, totalling over $3.4 billion in personal capital, will basically optimise our maritime commerce routes and decongest present port amenities,” the DG famous. 

Extra Insights 

Earlier in November, the FEC authorized the primary batch of three PPP tasks — the Product Authentication and Monitoring System (PATS) below the Federal Ministry of Business, Commerce and Funding; the V-PASS contactless biometric verification platform; and the Port Harcourt Worldwide Airport concession below the Federal Ministry of Aviation and Aerospace Improvement.

These authorized tasks attracted an extra $230.9 million in personal funding, in keeping with the ICRC.

Different PPP tasks authorized in 2025 embrace MediPool — Federal Ministry of Well being and Social Welfare; the Maritime Digital Administration System (MEMS) — Nigerian Maritime Administration and Security Company; the Ikere Gorge 6MW Hydropower Plant — Federal Ministry of Energy; the Coastal Fisheries Terminal, Borokiri; the Farin Ruwa 20MW Hydropower Challenge — Federal Ministry of Water Assets and Sanitation; and the Enugu Worldwide Airport — Federal Ministry of Aviation and Aerospace Improvement, amongst others.

Backstory 

Nairametrics beforehand reported that the ICRC, in August 2025, issued new pointers on Public-Personal Partnerships (PPPs), decentralising approval powers to Ministries, Departments, and Companies (MDAs) to hurry up challenge supply and entice personal sector funding.

• The brand new PPP pointers construct on a coverage authorized by President Bola Tinubu in June 2025, which authorised the ICRC to independently approve tasks under N20 billion with out Federal Government Council (FEC) clearance. Beneath this directive, ministries can now approve tasks below N20 billion, whereas companies and parastatals can deal with these under N10 billion.
• To assist this, the framework launched Challenge Approval Boards (PABs) inside MDAs to vet and approve eligible tasks, topic to ICRC certification.
• Bigger tasks above the edge or these involving a number of ministries nonetheless require FEC approval.

Importantly, all PPP tasks should be totally financed by the personal sector, with no federal treasury ensures or commitments. No matter measurement or scope, each challenge should move by way of the ICRC’s regulatory checks earlier than remaining approval.