The Infrastructure Concession Regulatory Commission (ICRC) has refuted claims that President Bola Tinubu cancelled any Public-Private Partnership (PPP) projects since taking office in 2023.
ICRC Director-General Jobson Oseodion Ewalefoh, in a June 25 statement, clarified that all 150 PPP projects initiated under Tinubu’s administration remain active, with 20 worth $2 billion nearing completion. These include the Lagos-Ibadan Expressway upgrade, valued at $500 million, and the Abuja-Kano Road project, expected to create 10,000 jobs by 2026.
The statement addressed rumors sparked by opposition figures alleging Tinubu halted projects to favor cronies, particularly after the Renewed Hope Mechanisation Programme launch involving Belarusian collaboration. Ewalefoh emphasized that Tinubu’s administration has streamlined PPP processes, reducing approval times from 180 to 90 days, boosting investor confidence. In 2024, Nigeria attracted $1.5 billion in PPP investments, a 25% increase from 2022, largely in transport and energy sectors.
Critics, including PDP members, argue that some projects lack transparency, citing the $300 million Second Niger Bridge tolling contract. The ICRC’s defense aligns with Tinubu’s goal to increase PPP contributions to 5% of Nigeria’s $400 billion GDP by 2027, signaling sustained commitment to private-sector partnerships.