Over $500m investment attracted via PPP projects – Infrastructure commission

• Published On: 19 September 2024 at 18:18

According to the Infrastructure Concession Regulatory Commission, the Federal Government of Nigeria has received more than $500 million in public-private partnership projects in the last year.

According to Nairametrics, the ICRC has revealed plans to conduct a comprehensive performance audit of all existing PPP projects.

This audit will focus on ensuring statutory compliance, including the mandatory insurance coverage outlined in the Infrastructure Concession Regulatory Commission Establishment Act of 2005.

Dr. Jobson Oseodion Ewalefoh, Director-General of the Infrastructure Concession Regulatory Commission, disclosed this during a recent courtesy visit to the Minister of Interior, Hon. Dr. Olubunmi Tunji-Ojo.



Dr. Ewalefoh praised the Ministry of Interior for successfully attracting over $500 million in investments through various PPP projects over the last year, crediting this achievement to Hon. Dr. Olubunmi Tunji-Ojo's leadership.

"We have mechanisms in place to begin auditing PPP agreements, not to terminate them, but to improve them for national benefit. "Compliance with the insurance policy is critical to protecting our national assets under these partnerships," stated Dr. Ewalefoh.

Dr. Ewalefoh praised the Ministry of Interior for setting the standard in PPPs, presenting the most PPP projects to the FEC in the previous year.

Minister Tunji-Ojo emphasised the government's commitment to encouraging private-sector participation in addressing resource gaps and creating a favourable investment environment.

He highlighted key Public-Private Partnership initiatives at the Ministry of Interior, such as the e-gate system, Advanced Passenger Information System, and the upcoming Gap Management System.

In support of the Federal Government's initiative to drive economic growth through Public-Private Partnerships, Lagos State Governor Mr. Babajide Sanwo-Olu has pledged to revitalise the Office of Public-Private Partnerships to meet global standards.