•Says public-only infrastructure funding no longer sustainable

DejiElumoyeand James Emejoin Abuja

President Bola Tinubu yesterday directed that all approved infrastructure projects must transition from planning to immediate real-time execution.

The president gave the marching order at the 2025 Nigeria Public-Private Partnership (PPP) Summit with the theme, “Unlocking Nigeria’s Potential: The Role of Public-Private Partnerships in Delivering the Renewed Hope Agenda.”

The president said his administration remained determined to deliver infrastructure that are both sustainable and inclusive.

The summit was organised by the Infrastructure Concession Regulatory Commission (ICRC) in Abuja.

Tinubu, particularly cautioned against any delays caused by bureaucratic hurdles.

Represented by Vice President KashimShettima, he said the federal government planned to fast-track approvals for viable projects and intensify coordination among Ministries, Departments, and Agencies (MDAs) to ensure rapid implementation.

Tinubu also declared that the old model of public-only infrastructure funding was no longer sustainable.

He said, “Our national aspirations far exceed what public budgets alone can deliver. That is why we must innovate and work together.

“We’re not looking for investors to carry burdens. We’re offering opportunities to create value. We seek long-term partners ready to help us bridge our infrastructure gap with purpose and precision.”

The president said, “We will fast-track approvals for viable projects. We will ensure coordination across Ministries, Departments, and Agencies to enable swift implementation.”

He explained that Nigerians expect tangible results rather than mere promises, stressing the critical need to transform commitments into infrastructure that directly addresses citizens’ daily requirements.

He said, “We do this because we know that what matters to the average Nigerian is not promises, but power in their homes, roads to their farms, access to clean water, modern hospitals, and quality schools. We must build. We must deliver. And we must do it together.”

Tinubu further acknowledged existing challenges within Nigeria’s project implementation culture, observing that the country’s potential has not always been matched by action.

According to him, “Nigeria does not lack potential. What we have lacked, at times, is alignment of purpose and the courage to act decisively. Let us chart a new path, not just as government and investors, but as partners in nation-building.”

He said the current administration had taken measures to streamline bureaucratic processes and improve transparency in the public-private engagement framework.

“We have aligned our processes with global best practices and investor expectations,” he added.

He stressed that a functional partnership between government and the private sector was central to national transformation.

He noted that ICRC had been strengthened to effectively regulate and de-risk PPP transactions.

Speaking on long-term infrastructure goals, Tinubu reiterated the government’s commitment to the National Integrated Infrastructure Master Plan (2020–2043), which aims to increase Nigeria’s infrastructure stock from 30–35 percent of GDP to 70 percent by 2043.

However, he cautioned that, “blueprints do not build roads. Policies alone do not generate megawatts.”

He called on private sector stakeholders to look beyond perceived risks and seize the opportunity to contribute to a rapidly transforming economy.

He said, “To our private sector partners, Nigeria offers scale, demand, and returns like no other African market. But we need more than investment.

“We need innovation, we need efficiency, and above all, we need integrity. I urge you to look beyond the risks and recognise the immense opportunity to shape a nation that is not just rising, but ready,” he added.

Earlier in his remarks, the Director-General/Chief Executive, ICRC, Dr. Jobson OseodionEwalefoh, assured both local and international investors that the country remained open for business and prepared for genuine partnership.

He cited the country’s large population, expanding middle class, and significant infrastructure deficit—estimated at over $2.3 trillion—as clear indicators of the urgency and opportunity for PPPs.

He said, “With over 200 million people, a growing middle class, rich natural endowments, and an enormous infrastructure gap estimated at over $2.3 trillion — the case for PPPs in Nigeria is not only compelling, it is urgent.”

He added that the commission was focused on balancing its regulatory role with facilitation and collaboration.

He said, “We are committed to ensuring that every PPP transaction is not just legally sound, but economically viable and socially impactful.”

Ewalefoh, pledged that the ICRC would support investors from project conceptualisation through to financial close and implementation.

He also attributed the commission’s progress to Tinubu’s direct support and a clear mandate to mobiliseprivate-sector funding for national infrastructure.

On her part, Regional Director, Central Africa & Anglophone West Africa, IFC, Dahlia Khalifa, applauded the ongoing reform in Nigeria’s PPP framework, acknowledging IFC’s collaboration with authorities across key sectors to achieve the country’s overall objectives and strengthening the existing relationship between the organisation and Nigeria.

She added that Nigeria under Tinubu has demonstrated strong commitments to timely and transparent resolution of disputes arising from PPP projects, which is evident in the ongoing efforts to restructure the country’s PPP framework.

Also, Vice-President for Private Sector, Infrastructure &Industrialisation at the African Development Bank, Solomon Quaynor, said the theme of the summit implies that partnerships are not just optional but are essential.

He said the infrastructure deficits, “demand that the government and the private sector work together in commercially viable PPPs,” adding that the bank is working with other partners on the Lagos-Abidjan highway project to boost regional economic integration in West Africa.

“PPPs are complex long-term projects. They need to be designed properly and designed to survive different political administrations because by their very nature, they are long-term,” he stated.

On his part, Director & Global Head, Project Preparation, African Export-Import Bank (Afreximbank), ZittoAlfayo, explained that the government’s limited fiscal space has necessitated PPPs, saying the federal government’s bold market reforms have positioned Nigeria to absorb the shocks of the outside world.

“With this clear demonstration of commitment from the Nigerian government, the onus is now on the private sector to drive the adoption of PPP. Since its inception, Afreximbank has disbursed over $50 million in Nigeria, capitalising investment in various sectors including energy, transport and logistics, manufacturing, healthcare, and financial services,” he noted.

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