In New Regulatory Guidelines,  ICRC Decentralises Project Approvals to MDAs to Fastrack Delivery

*Move to unlock billions in private investment, ensure due diligence, says Ewalefoh

James Emejo in Abuja

The Infrastructure Concession Regulatory Commission (ICRC) has issued new guidelines to govern the development and implementation of all Public -Private Partnerships (PPPs) projects in the country.

The new framework, was released under the statutory powers conferred on the Commission by the ICRC Act, 2005, and in compliance with a recent presidential directive.

The move seeks to overhaul the country’s infrastructure delivery processes through (PPPs), decentralise project approvals to MDAs for faster delivery while safeguarding the ICRC’s role as regulator of PPPs in the country.

Director General, ICRC, Dr. Jobson Oseodion Ewalefoh, disclosed the development during a high-level stakeholders’ engagement with representatives from all Ministries, Departments, and Agencies (MDAs) directly involved in PPPs.

He said the fresh regulation are in response to President Bola Tinubu’s vision to liberalise the economy and in line with the president’s charge to the ICRC to seek innovative ways to attract private sector finance to build infrastructure through PPPs.

The ICRC boss said, “These rules establish a definitive framework for the conception, development, and execution of PPP projects in Nigeria. They decentralise project approvals to empower MDAs for faster delivery while safeguarding the ICRC’s role as regulator of PPPs in Nigeria.

“Every PPP project — regardless of sector, scale, or origin — must strictly comply with these provisions. Every project shall be subjected to our due diligence and compliance requirements.”

He re-emphasised the role of the commission as a regulator of PPPs and not an operator or grantor of projects, adding that it would continually facilitate and coordinate negotiations between MDAs and private proponents to ensure that the terms and conditions of agreements are fair to parties and implementable.

Ewalefoh, stressed that the presidency’s decision to delegate greater approval authority to MDAs, with ICRC regulating the process, also comes with heightened accountability and zero tolerance for non-compliance.

The ICRC, however, reaffirmed its commitment to collaborate with MDAs, private investors, financiers, and development partners to reposition Nigeria as the continent’s leading destination for bankable and transformative PPP projects. 

Essentially, ICRC has a mandate to superintend and regulate PPPs for the construction and maintenance of federal infrastructure. 

Its functions include providing guidelines for project development, tendering, and contract execution, building capacity within government agencies, and monitoring contract compliance to address Nigeria’s physical infrastructure deficit and foster economic development.