FEC attracts $4.29 billion investments to Nigeria through new PPP challenge approvals – ICRC
The Federal Government Council (FEC) has authorised three Public-Non-public Partnership (PPP) tasks, attracting an injection of over N6.43 trillion (roughly $4.29 billion) in personal capital into the Nigerian financial system.
The event was introduced by the Infrastructure Concession Regulatory Fee (ICRC) in a press launch shared with Nairametrics on Friday.
The newly authorised tasks embody 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 Sources and Sanitation).
In accordance with the ICRC, the tasks are to be absolutely financed by the personal sector. This brings the variety of PPP tasks authorised in 2025 alone to over 13.
The Director-Normal of the Infrastructure Concession Regulatory Fee, Dr. Jobson Oseodion Ewalefoh, acknowledged that the rising influx of overseas direct investments is a direct end result of President Bola Ahmed Tinubu’s reform agenda, which mixes coverage readability, {economic} liberalisation, and strengthened regulatory establishments.
In accordance with him, these reforms are translating into tangible outcomes for Nigeria, “as evidenced by the dimensions and high quality of PPP tasks authorised in current months.”
The Fee disclosed that the newly authorised 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 mentioned 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 {economic} progress, know-how switch, and sustainable growth.
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 {economic} exercise within the North-Central area and past.
“These are decisive, multi-sectoral funding portfolios that immediately tackle nationwide wants. The approval of the 2 deep seaport tasks alone, totalling over $3.4 billion in personal capital, will essentially optimise our maritime commerce routes and decongest current port amenities,” the DG famous.
Earlier in November, the FEC authorised the primary batch of three PPP tasks — the Product Authentication and Monitoring System (PATS) below the Federal Ministry of Trade, 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 authorised tasks attracted a further $230.9 million in personal funding, in response to the ICRC.
Different PPP tasks authorised in 2025 embody 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 Mission — Federal Ministry of Water Sources and Sanitation; and the Enugu Worldwide Airport — Federal Ministry of Aviation and Aerospace Improvement, amongst others.
Nairametrics beforehand reported that the ICRC, in August 2025, issued new pointers on Public-Non-public Partnerships (PPPs), decentralising approval powers to Ministries, Departments, and Companies (MDAs) to hurry up challenge supply and appeal to personal sector funding.
Importantly, all PPP tasks should be absolutely financed by the personal sector, with no federal treasury ensures or commitments. No matter dimension or scope, each challenge should cross by the ICRC’s regulatory checks earlier than ultimate approval.