The Federal Executive Council has approved three Public-Private Partnership projects (PPP) worth over N6.43tn to expand Nigeria’s infrastructure base, Okay News reports that.
The projects, comprising two deep seaports and a 460-megawatt hydropower plant, mark the second batch of PPP approvals in one month under the Renewed Hope Agenda, highlighting infrastructure investment.
The Director-General of the Infrastructure Concession Regulatory Commission, Jobson Ewalefoh, said on Friday that the deals reflect rising investor confidence driven by economic reforms, emphasising private capital.
He stated that improved policy clarity and stronger regulation have enabled the government to unlock long-term funding critical to national development, stressing investment confidence.
The newly approved projects include the $2.27bn Bakassi Deep Seaport, the $1.14bn Port of Ondo Deep Seaport, and the $878.1m Katsina-Ala Hydropower Plant, all to be fully financed and operated by private partners, underscoring PPP expansion.
Ewalefoh said the projects reinforce the administration’s commitment to boosting economic competitiveness, strengthening trade routes, and expanding renewable-energy capacity through PPPs, focusing on economic growth.
He explained that the Bakassi Deep Seaport will serve as a new maritime gateway for northern regions and a key hub for West and Central Africa, highlighting maritime development.
He added that the two deep seaports, valued at over $3.4bn, will help decongest existing ports and attract larger vessels while integrating industrial clusters and a Free Trade Zone expected to generate thousands of jobs, centred on port capacity.
He said the Port of Ondo Deep Seaport will unlock solid minerals and agro-allied value chains and create a new logistics and export corridor for the South-West, spotlighting trade facilitation.
On the Katsina-Ala Hydropower Plant, he said the 460MW project will boost electricity supply, expand the nation’s renewable-energy footprint, and stimulate economic activity across multiple states, stressing energy infrastructure.
The latest approvals follow three PPP projects cleared in November, including airport and verification-system concessions that drew $230.9m in private capital, reflecting sector reforms.
With Thursday’s approvals, the number of PPP projects endorsed in 2025 has surpassed 13, covering maritime, power, health, aviation, and industrial sectors, signalling infrastructure diversification.
Other projects include hydropower initiatives, fisheries terminals, airport concessions, and electronic maritime systems, all aimed at modernising critical assets under strengthened PPP regulation, promoting sector development.
Ewalefoh commended President Tinubu for supporting reforms that reposition the ICRC as the core institution driving PPP delivery nationwide, emphasising regulatory strengthening.
Nigeria’s growing reliance on PPPs reflects the need to close its infrastructure deficit, which requires an estimated $100bn annually, reinforcing infrastructure funding.
