The Federal Executive Council (FEC) has greenlit three major Public-Private Partnership (PPP) projects worth over N6.43 trillion, marking a significant boost for Nigeria’s infrastructure sector.
The projects include the $2.27 billion Bakassi Deep Seaport, the $1.14 billion Port of Ondo Deep Seaport, and the $878 million Katsina-Ala Hydropower Plant. All three are to be fully financed, developed, and operated by private investors.
Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Jobson Ewalefoh, said the approvals highlight the practical impact of President Bola Tinubu’s Renewed Hope Agenda, which prioritises private-sector-led infrastructure delivery to drive economic growth, competitiveness, and job creation.
“The Bakassi Deep Seaport will serve as a strategic maritime hub for the North-Central and North-East regions and foster trade across West and Central Africa,” Ewalefoh said. “The Port of Ondo Deep Seaport will unlock South-West Nigeria’s solid minerals and agro-allied value chains, positioning the state as a logistics and export corridor.”
The 460MW Katsina-Ala Hydropower Plant, a greenfield project, is expected to supply essential base-load electricity to the national grid and stimulate regional economic activity, addressing Nigeria’s persistent power deficit while expanding the country’s renewable-energy footprint.
This approval marks the second batch of PPP initiatives cleared by FEC within a month, following previous endorsements for projects including the Port Harcourt International Airport concession and the V-PASS biometric verification platform. With these latest approvals, Nigeria has now cleared over 13 PPP projects in 2025 spanning power, maritime, aviation, healthcare, and industrial sectors.
Ewalefoh praised the Tinubu administration’s commitment to strengthening regulatory institutions and creating an enabling environment that encourages long-term private-sector investments in critical national infrastructure.
“The consistent support from Mr. President has repositioned the ICRC as the engine room for PPP development, and these projects will deliver lasting economic benefits for the nation,” he said.
