The Federal Executive Council, FEC, has approved three major Public-Private Partnership, PPP, projects worth more than N6.43 trillion, marking another significant influx of private capital into Nigeria’s infrastructure sector.
The newly endorsed projects — two deep seaports and a 460MW hydropower plant — represent the second wave of PPP approvals within one month and align with President Bola Tinubu’s Renewed Hope Agenda, which prioritises private-sector-led development.
Announcing the approvals, the Director-General of the Infrastructure Concession Regulatory Commission, Jobson Ewalefoh, said the decisions reflect growing investor confidence driven by clearer policies, economic reforms and stronger regulatory institutions.
He noted that the approvals confirm the government’s strategy of using PPPs to stimulate growth, enhance trade competitiveness and expand the country’s renewable-energy capacity.
The approved projects comprise the $2.27 billion Bakassi Deep Seaport, the $1.14 billion Port of Ondo Deep Seaport and the $878.1 million Katsina-Ala Hydropower Plant. Fully financed and developed by private investors, they are expected to transform maritime logistics, improve power generation and boost regional economies.
The Bakassi port will serve as a major hub for West and Central Africa, with integrated industrial clusters and Free Trade Zones, while the Ondo port aims to unlock the South-West’s solid minerals and agro-allied sectors.
On energy, the Katsina-Ala Hydropower Plant will add 460MW of renewable electricity to the national grid, addressing chronic supply deficits and supporting sustainable economic expansion. These approvals follow three PPP projects cleared in November — including the Port Harcourt Airport concession and two digital verification systems — bringing total PPP endorsements in 2025 to more than 13 across sectors such as maritime, health, aviation, and power.
Ewalefoh praised President Tinubu’s support for the ICRC, saying the administration’s reforms have strengthened the Commission’s role in driving PPP development. As Nigeria faces tight fiscal conditions and an infrastructure financing need exceeding $100 billion annually, PPPs remain central to the strategy of shifting major capital projects to private investors while ensuring stronger regulatory oversight.
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