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Tag: PPP Summit 2025

  • PPP Summit 2025: Under Tinubu’s administration, PPP agreements remain sacrosanct – DG ICRC

    PPP Summit 2025: Under Tinubu’s administration, PPP agreements remain sacrosanct – DG ICRC

    The Director General, Infrastructure Concession Regulatory Commission (ICRC), Dr Jobson Oseodion Ewalefoh, has affirmed that President Bola Tinubu has not cancelled any Public-Private Partnership (PPP) project since assumption of office in May 2023.

    He stated this to dispel insinuations that PPP projects are being cancelled by the present administration.

    Speaking at the Nigeria Public-Private Partnership (PPP) Summit 2025, Dr Ewalefoh acknowledged that government is a continuum, adding that the present administration has rather revitalised and renegotiated PPP contracts to adapt to current realities.

    The Director General underscored the need for ‘partnership spirit of PPPs’, which he emphasised, requires flexibility and continuous negotiation.

    He said: “PPP contract is a living document that requires continuous negotiation and adaptation. When somebody said PPP contracts are being cancelled, as the DG of ICRC, President Bola Tinubu has not cancelled any PPP contracts since he became President of this country.

    “What we have been doing is to renegotiate some of the contracts in view of the present realities. Even the ones that attempts were made to cancel, he has directed them back to us that we should find a way to make them work. And that is the spirit of PPP. It’s a partnership”.

    With the theme: “Unlocking Nigeria’s Potential: The Role of Public-Private Partnerships in Delivering the Renewed Hope Agenda,” the two-day event, organised by the Infrastructure Concession Regulatory Commission (ICRC), brought together top policymakers, investors, international and local investors as well as prominent private sector leaders in infrastructure development within and outside Nigeria.

    Speaking at a panel session titled, ‘Maximazing Nigeria’s economic potentials in the transport sector using PPPs: Focus on rail and road infrastructure’, the ICRC boss called for paradigm shift in seeking perfection in PPP concession agreements, recognizing that the underlying dynamics are constantly evolving.

    He, therefore, called for flexibility, stressing that there can never be a ‘perfect concession on PPP agreements’.

    “Having a good road network will attract businesses, factories, and investments, making it an economic enabler. Nigeria needs to take this more seriously.

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    “Let’s move away from trying to have a perfect concession on PPP agreements. It can never be perfect because the dynamics are not static; they evolve as time goes on.

    “When projects fail, we often attribute it to poor feasibility studies or political interference. However, I believe we need to have in-depth research into how we categorise these studies, considering the changing economic landscape,” Ewalefoh said.

    Other panellists, including the Managing Director, Bethlehem Rail Infrastructure Limited, Rowland Ocholi; Past President, Permanent International Association of Road Congress, Nasir Alli; Senior Partner, Africa 50 Infrastructure Acceleration Fund, Opuiyo Oforiokuma; Managing Director, Catamaran Nigeria Limited, Lai Are;  Managing Director, Africa Plus Limited, Adeniran Ajakaiye, as well as the Managing Director/CEO, Federal Roads Maintenance Agency (FERMA), Engr. Chukwuemeka Agbasi underscored the significance of PPPs in Nigeria’s economic planning.

    The session also explored ways to maximise Nigeria’s economic potential through strategic partnerships.

    Also, at another session titled ‘Case Studies on PPP projects’, panellists shared experiences and lessons learned from various Public-Private Partnership (PPP) projects, highlighting successes, challenges, and best practices in implementing them.

    PPP projects analysed included the Wind Power Project, Cape Verde; Sene-Gambia Bridge Project Senegal as well as the Lekki Deep Sea Port Project, Nigeria.

    In their separate interventions, the Chief Executive Officer, Fourcore Integrated Services, David Ibhawoh; Associate Vice President, Africa Finance Corporation, Sulaiman Cisse and Director PPP Gambia, Lamin Fatty, analysed the benefits and drawbacks of different approaches, and offered insights on how to improve future PPP projects.

    Specifically, they dissected successful PPP models and their key features, common challenges and obstacles in PPP implementation, strategies for effective risk management and allocation, the importance of stakeholder engagement and community participation and lessons learned from past projects and how to apply them to future initiatives.

    They noted that effective PPPs require careful planning, robust risk assessment, and strong stakeholder engagement to ensure successful project delivery and sustainable benefits.

    Fatty stated: “99.9% of all assets that generate income are not being managed effectively by the government. Governments have limitations in controlling assets efficiently. It’s better to hand them over to the private sector, which can manage them more effectively.”

  • PPP Summit 2025: Cross River, Ondo Govs hail PPPs as catalyst for growth

    PPP Summit 2025: Cross River, Ondo Govs hail PPPs as catalyst for growth

    Cross River Governor, Senator Bassey Otu and his Ondo State counterpart, Hon. Lucky Aiyedatiwa have underscored the potential of Public-Private Partnerships in driving growth and addressing development challenges.

    According to them, Public-Private Partnerships (PPPs) offer a viable solution to bridging infrastructure gaps, enhancing service delivery, and stimulating economic growth, thereby improving the lives of citizens and fostering sustainable development.

    They spoke as panelists at the 2025 Nigeria Public-Private Partnership Summit in Abuja, the nation’s capital.

    The high-level conference was convened by the Director General, Infrastructure Concession Regulatory Concession (ICRC), Dr. Jobson Oseodion Ewalefoh with President Bola Tinubu as chief host.

    The conference themed, ‘Unlocking Nigeria’s Potential: The Role of Public-Private Partnerships in Delivering the Renewed Hope Agenda,’ brought together policymakers, investors, and industry leaders within and outside the country. The two-day event featured five sessions with 42 speakers, attracted around 1,500 attendees with 15 partner organizations.

    Titled, ‘Leveraging PPPs for Infrastructure Delivery in Nigeria: Opportunities and Potentials’, the first session was moderated by Nnanna Anyim-Ude of the Nigerian Economic Summit Group (NESG).

    In his intervention, Governor Otu highlighted the vast potential of Public-Private Partnerships (PPPs) in addressing Nigeria’s infrastructure deficit.

    According to him, PPPs can attract private sector investment, expertise, and efficiency to deliver critical infrastructure projects, drive economic growth, and improve the quality of life for Nigerians.

    Speaking on the $3.5 billion Bakassi Deep Seaport, Governor Otu highlighted the need for the project, citing increasing port congestion and Nigeria’s aspiration to become a trans-shipment hub for sub-Saharan Africa.

    “The development of the Bakassi Deep Seaport is imperative to increase port capacity in the country and ease the pressure on existing ports.

    “Most of the subnationals we have today are doing their very best to key into different sectors, taking their complementary advantage into consideration,” he stated.

    On his part, Governor Aiyedatiwa listed the immense benefits of PPPs to include infrastructure development, increased efficiency, job creation, economic growth and capacity building.

    On the Ondo Seaport, the Governor said the $1.3 billion multipurpose project would transform the state’s economy, create thousands of jobs, and attract investments, while also serving as a catalyst for industrialization and economic growth in the region.

    This, he stressed, would increase the state’s revenue base and improve the standard of living for its citizens.

    His words: “Our administration recognizes the potential of Public-Private Partnerships in driving growth and addressing development challenges, with a focus on enhancing public service delivery. We remain committed to fostering and expanding these collaborations.

    “For us, we’ve moved passed so many stages. We just need a few technical amendments between ICRC and the Ministry of Marine and Blue Economy.

    “As I’m sitting here, I’ve letters of invitation to come to visit two of our investors who are keenly ready to move in as soon as that area is amended.

    “We are ready. I believe our own deep sea port is a unique one. The modern vessels, the depth being required is about 16.5; we have a natural 18metre deep already without being dredged.

    “But the beauty of it is that we still need more ports in Nigeria. In fact, every state even needs more than one port just like we have in Lagos with Apapa, Tin Can, Lekki Deep Sea Ports, yet we are having congestion.

    “It’s not just about vessels bringing in products only. We have a lot of products we are to ship out of Nigeria. Don’t forget that Ondo State is a leading cocoa producing state in Nigeria”.

    The PPP Summit, convened by the Infrastructure Concession Regulatory Commission (ICRC), is part of a broader effort by the Tinubu administration to bridge Nigeria’s estimated $2.3 trillion infrastructure deficit by leveraging private capital, technical expertise, and innovation to deliver inclusive and sustainable development across all sectors of the economy.

    The Summit equally featured a session: ‘Case studies on PPP Projects’ moderated by Dr Michael Uwaechie, Principal Partner, Ivy Crest Solicitors.

    In another panel session titled, ‘Innovative Financing in Delivering Successful PPPs’, moderated by Dimeji Salaudeen of KPMG, experts shared insights on risk management, funding options, and best practices to attract investments and deliver impactful infrastructure projects in Nigeria.

    Tony Edeh, Group CEO, Norrenberger Assets Management Limited, pointed out that “There’s alternative liquidity and capital accessibility for financing infrastructure. As private sector players, our role is to innovate instruments that fit Nigerians’ lifestyle and unlock that liquidity.”

    Also, Alexandre Leigh, Global Sector Lead (Airports, Transaction Advisory Services (PPP), International Finance Corporation (IFC), argued that the challenge does not lie in securing funding, but in finding projects that are properly planned and prepared for investment.

    “One frustrating part of my job is getting calls from investors and developers looking for projects to invest in. In my view, there’s no lack of financing, but rather a lack of well-prepared projects,” he stated.