The Federal Executive Council (FEC) has approved three major Public-Private Partnership (PPP) projects worth over N6.43 trillion ($4.29 billion), marking another push to attract private capital into critical national infrastructure.
In a statement yesterday, the Infrastructure Concession Regulatory Commission (ICRC) said the newly endorsed projects—the Bakassi Deep Seaport, the Port of Ondo Deep Seaport, and the 460MW Katsina-Ala Hydropower Plant—form the second batch of seven PPP initiatives cleared by the Council in the last one month. All three will be fully financed by private investors and processed under the Commission’s regulatory oversight.
According to the ICRC, the Bakassi Deep Seaport, under the Federal Ministry of Marine and Blue Economy, carries an estimated cost of $2.27 billion, while the Port of Ondo Deep Seaport is valued at $1.14 billion. The Katsina-Ala Hydropower Plant, supervised by the Federal Ministry of Water Resources and Sanitation, is projected to attract $878.1 million in investment.
ICRC Director-General, Dr. Jobson Oseodion Ewalefoh, said the approvals reflect the Federal Government’s strategy to deploy PPPs as engines for economic expansion, technology transfer and sustainable development. He described the projects as “decisive, multi-sectoral investments” designed to close key national infrastructure gaps.
Ewalefoh said the Bakassi Deep Seaport will serve as a new maritime gateway for the North-Central and North-East, while positioning Nigeria as a major hub for West and Central Africa. The port, he added, is a greenfield facility capable of handling large vessels and integrating an industrial cluster and Free Trade Zone.
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He noted that the Port of Ondo Deep Seaport will unlock opportunities in the South-West, leveraging the region’s solid mineral deposits and agro-industrial potential.
On the power project, the DG said the 460MW Katsina-Ala Hydropower Plant will provide long-term support for the national grid and help address persistent energy shortages. The plant, he said, represents “a strategic commitment to a cleaner, more reliable and sustainable energy future”.
The latest approvals build on those issued in November, which covered the Product Authentication and Tracking System (PATS), the V-PASS contactless biometric platform, and the concessioning of the Port Harcourt International Airport—projects collectively attracting over $230.9 million in additional investment.
With FEC’s decision, more than 13 PPP projects have secured government backing in 2025 alone, underscoring the administration’s growing reliance on private-sector-led infrastructure delivery. Other approvals this year include MediPool under the Ministry of Health, the Maritime Electronic Management System (MEMS) for NIMASA, the Ikere Gorge 6MW Hydropower Plant, the Coastal Fisheries Terminal in Borokiri, the Farin Ruwa 20MW Hydropower Project, and the concessioning of Enugu International Airport.
Ewalefoh attributed the surge in investor interest to President Bola Ahmed Tinubu’s reform agenda, which he said is strengthening regulatory institutions, improving policy clarity and driving economic liberalisation. He added that the steady stream of PPP endorsements reflects the President’s confidence in the ICRC and its central role in delivering high-value national infrastructure.
