The Infrastructure Concession Regulatory Commission (ICRC) has unveiled the Model Public Private Partnership (PPP) Agreement, Version 1.0, to address Nigeria’s conservative $2.3 trillion infrastructure deficit.
Speaking at a one-day stakeholders’ engagement session in Abuja, the Director General/CEO of ICRC, Dr. Jobson Oseodion Ewalefoh, stated that Nigeria requires approximately $100 billion annually until 2043 to close its infrastructure gap.
He emphasized that federal budgets alone cannot finance these capital demands, making private sector collaboration under President Bola Ahmed Tinubu’s Renewed Hope Agenda crucial.
“Government revenue alone—even under the most disciplined fiscal management, even with every naira of oil receipts and every kobo of tax collection accounted for—cannot bear that weight,” Ewalefoh said. “This is not an admission of weakness; it is simply a matter of arithmetic.”
The DG explained that for nearly two decades, Nigeria approached PPPs on a project-by-project basis, causing protracted negotiations and investor uncertainty. Developed in close collaboration with the Federal Ministry of Justice, the new framework standardizes risk allocation, default clauses, and dispute mechanisms.
“What the Model Agreement provides is a dependable point of departure: a shared national baseline, grounded in Nigerian law, disciplined risk allocation, and global good practice,” Ewalefoh stated, describing the framework as “reputational infrastructure” essential for attracting global capital.
He clarified that the document is a “living instrument” and not a one-size-fits-all template, noting that it safeguards project financiers with clear step-in rights and establishes a graduated dispute resolution ladder.
Charging Ministries, Departments, and Agencies (MDAs) to champion the framework to lower the cost of capital, Ewalefoh added: “The ICRC stands ready as your partner, not your gatekeeper, having spent the past two years equipping you to proceed with greater speed and greater confidence.”
In her goodwill message, Mrs. Beatrice Jedy-Agba, Solicitor General of the Federation and Permanent Secretary, Ministry of Justice, said the Nigeria Model Public-Private Partnership (PPP) Agreement is a major step toward safeguarding national interests in infrastructure delivery.
Mrs. Jedy-Agba described the document as a “shared vision for a prosperous, efficiently governed, and sustainably developed Nigeria.”
Jointly developed with the Infrastructure Concession Regulatory Commission (ICRC), the template aims to standardise contracts and eliminate predatory litigation.
Jedy-Agba noted that the Ministry has built unprecedented capacity to review complex contracts, dismantling “the old stereotype that legal due diligence must act as a bureaucratic bottleneck.”
Urging active stakeholder collaboration to refine the framework, she added: “Let us seize this opportunity to strengthen our institutions, attract investment, and drive sustainable development for the benefit of us all.”
