The Federal Executive Council FEC has approved three major Public-Private Partnership projects worth more than N6.43 trillion, an estimated 4.29 billion dollars, to boost Nigeria’s infrastructure, improve economic competitiveness, and attract private-sector investment across the country. The Director-General of the Infrastructure Concession Regulatory Commission ICRC, Dr Jobson Ewalefoh, confirmed the approvals in a statement released by the Acting Head of Media, Ifeanyi Nwoko, in Abuja on Friday.
Ewalefoh highlighted the importance of these projects to the nation’s economic direction. He said the approvals show clear progress under President Bola Tinubu’s Renewed Hope Agenda, which focuses on private-sector-led infrastructure development as a key driver for national growth, stronger economic competitiveness, and broad job creation. He noted that the rising inflow of foreign direct investments into Nigeria is tied to government reforms, adding that policy clarity, economic liberalisation, and stronger regulatory institutions are already producing real results.
He explained that the newly approved projects represent the second batch of seven PPP initiatives endorsed by FEC in the last month, all under the regulatory oversight of the ICRC. According to him, the three new projects are fully funded by private investors and include the Bakassi Deep Seaport valued at 2.27 billion dollars, the Port of Ondo Deep Seaport valued at 1.14 billion dollars, and the 460MW Katsina-Ala Hydropower Plant. Ewalefoh said the projects confirm the government’s commitment to using PPPs to speed up economic growth, encourage technology transfer, and support sustainable development across critical infrastructure sectors.
He stated that the Bakassi Deep Seaport is expected to serve as a new maritime gateway for North-Central and North-East Nigeria, while the Port of Ondo Deep Seaport will help unlock the solid minerals and agro-allied potential of the region. Speaking on the Katsina-Ala Hydropower Plant, he said the renewable-energy project will provide stable electricity to the national grid and stimulate industrial and economic activities across the North-Central region and surrounding areas.
Ewalefoh described the approved projects as “decisive, multi-sectoral investments” designed to tackle Nigeria’s infrastructure gaps. He added that the two deep seaports alone, valued at more than 3.4 billion dollars, will improve maritime trade routes and reduce pressure on the nation’s already stretched ports. He noted that the Bakassi Deep Seaport, which is a greenfield development, will be able to receive large vessels, host an industrial cluster, and operate a Free Trade Zone, all of which are expected to create thousands of jobs and strengthen Nigeria’s maritime competitiveness.
On the Katsina-Ala project, he said its 878 million-dollar investment marks a strategic shift toward cleaner and more sustainable power solutions that can transform regional productivity and improve Nigeria’s national energy supply. Ewalefoh also recalled that in November, FEC approved an earlier batch of three PPP projects, which included the Product Authentication and Tracking System PATS, the V-PASS biometric verification platform, and the Port Harcourt International Airport concession. Those projects attracted a combined private investment of 230.9 million dollars.
He explained that with the latest approvals, the total number of PPP projects endorsed in 2025 has risen to no fewer than 13. These include MediPool under the Federal Ministry of Health and Social Welfare, the Maritime Electronic Management System MEMS under the Nigerian Maritime Administration and Safety Agency, the Ikere Gorge Hydropower Plant under the Federal Ministry of Power, the Coastal Fisheries Terminal Borokiri, the Farin Ruwa 20MW Hydropower Project both under the Federal Ministry of Water Resources and Sanitation, and the Enugu International Airport concession.
Ewalefoh expressed appreciation to President Tinubu for his continued support. He said the administration’s commitment to strengthening regulations has positioned the ICRC as the main driver of PPP infrastructure development in Nigeria.
He added that the consistent approvals show the President’s confidence in the commission’s mandate and will help the agency deliver greater value, support economic growth, and speed up national infrastructure development for Nigerians.
