The Federal Executive Council has approved three strategic Public-Private Partnership projects aimed at strengthening Nigeria’s infrastructure base and unlocking economic growth across critical sectors.
The approved projects include the development of a Smart National Transport Data Bank under the Nigerian Institute of Transport Technology, as well as two Independent Power Projects at the Onne Port Complex in Rivers State and the Apapa Port Complex in Lagos.
The development was announced in a statement issued by the Infrastructure Concession Regulatory Commission through its Acting Head of Media and Publicity, Ifeanyi Nwoko, on Sunday in Abuja.
The approvals further reinforce the commitment of President Bola Tinubu to fast-track infrastructure delivery through private sector participation, strengthen economic efficiency, and promote sustainable national development.
The approvals followed regulatory oversight by the ICRC, which conducted the Outline Business Case review, guided due diligence and negotiations, and certified the Full Business Case in line with ICRC guidelines and regulatory framework before the projects were presented to the Federal Executive Council for approval.
The approvals followed regulatory oversight by the ICRC, which conducted the Outline Business Case review, guided due diligence and negotiations, and certified the Full Business Case in line with ICRC guidelines and regulatory framework before the projects were presented to the Federal Executive Council for approval.
