From Juliana Taiwo-Obalonye, Abuja
President Bola Tinubu, on Tuesday, officially opened the Infrastructure Concession Regulatory Commission (ICRC) 2025 Nigeria Public-Private Partnership (PPP) Summit at the State House Conference Centre in Abuja.
The event, themed “Unlocking Nigeria’s Potential: The Role of Public-Private Partnerships in Delivering the Renewed Hope Agenda”, convenes key stakeholders from government and the private sector to foster collaborative partnerships aimed at accelerating national development.
Represented by Vice President Kashim Shettima, the president assured delegates that Nigeria is firmly on the path to sustained economic growth and peace, underscoring the federal government’s dedication to leveraging PPPs as a critical strategy for addressing the country’s vast infrastructure needs.
Tinubu said Nigeria can no longer build a 21st-century economy on 20th-century infrastructure, noting that the era of government-only funding of capital projects was unsustainable.
“We are not seeking investors to carry burdens; we are opening opportunities to create value,” the vice president stated. “We want long-term partners ready to bridge our infrastructure gap with purpose, precision, and integrity.”
The president reiterated that his administration, now over two years in office, has taken bold steps to reform the economy, including the removal of fuel subsidies, liberalisation of the foreign exchange market, and optimisation of government revenue, all geared towards creating a more viable investment climate.
“We have strengthened the ICRC, streamlined bureaucratic bottlenecks, and aligned our infrastructure processes with global best practices,” he said. “But policies alone don’t generate megawatts or build roads; what we need is collective action.”
He explained that the administration’s goal, guided by the National Integrated Infrastructure Master Plan (2020–2043), is to grow Nigeria’s infrastructure stock from 30–35% of GDP to at least 70% by 2043.
He emphasised the country’s market potential, citing Nigeria’s population of over 230 million people and its projected rise to 440 million by 2050, making it the third most populous nation on earth.
“One out of every four Black people is a Nigerian. There is no African market like this,” he said. “But beyond investment, we need innovation, efficiency, and integrity.”
He called on investors not to be deterred by perceived risks but to recognise the immense opportunities to build sustainable projects that deliver real impact, from roads and power to clean water, quality education, and healthcare.
“Let this summit not be remembered for kind speeches; we’ve had those for decades, but for bankable projects, signed deals, and enduring progress,” he said.
Reaffirming the administration’s commitment to swift implementation, President Tinubu pledged that viable projects would be fast-tracked and that coordination across ministries and agencies would be ensured.
He said, “Nigeria has turned the corner. We have crossed the Rubicon. We are on a path to sustained peace and development. We are ready, and we are open for business.”
ICRC Director General, Jobson Ewalefoh, on his part, reiterated the government’s resolve to close Nigeria’s infrastructure gap, estimated at over $2.3 trillion, through strategic PPP initiatives. Speaking at the summit, Ewalefoh highlighted flagship projects such as the Highway Development and Management Initiative, the Egini Medical Infrastructure Scheme, and the Dasin Hausa Dam as key examples of Nigeria’s commitment to sustainable, private-sector-led development.
He praised President Tinubu’s leadership in repositioning infrastructure as a driver of inclusive growth and emphasised the ICRC’s role in ensuring PPP projects are legally compliant, economically viable, and socially impactful.
Ewalefoh also noted recent presidential reforms mandating full compliance with PPP guidelines across all ministries, departments, and agencies (MDAs), and acknowledged the support of development partners including AfDB, NESG, Afreximbank, IFC, and Africa50.