The Federal Executive Council (FEC) has approved three major Public-Private Partnership (PPP) projects valued at over N6.43tn, signaling another significant wave of private-sector investment into the Nigerian infrastructure landscape.
According to the statement by the Director-General of the Infrastructure Concession Regulatory Commission, Jobson Ewalefoh, on Friday, the projects include two deep seaports and a 460-megawatt hydropower plant form the second batch of the PPP initiatives cleared by the FEC within one month, underscoring President Bola Tinubu’s push for private capital as a driver of growth.
He noted that the deals represent one of the strongest signals that the government’s reform agenda is yielding measurable impact.
“The Federal Executive Council has approved three transformative Public-Private Partnership (PPP) projects, confirming an injection of over N6.43tn (approximately $4.29bn) in private capital into the Nigerian economy. These approvals underscore the practical impact of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises private-sector-led infrastructure delivery as a catalyst for national growth, economic competitiveness, and job creation,” the statement said.
It explained that improved policy clarity, economic liberalisation, and strengthened regulatory institutions have boosted investor confidence, enabling the Nigerian Government to unlock billions of dollars in long-term investments.
The newly approved projects constitute the second batch of seven PPP initiatives endorsed by the Council in the last month, all under the regulatory guidance of the Infrastructure Concession Regulatory Commission.
The new projects include the $2.27bn Bakassi Deep Seaport, the $1.14bn Port of Ondo Deep Seaport, and the $878.1m Katsina-Ala Hydropower Plant, all to be fully financed, developed, and operated by private investors.
Ewalefoh said that the projects reaffirm the government’s resolve to deploy PPPs to accelerate economic competitiveness, enhance trade, and expand Nigeria’s renewable-energy footprint.
He explained that the Bakassi Deep Seaport, a greenfield development, would create a new maritime gateway for the North-Central and North-East and serve as a major hub for West and Central Africa.
“These are decisive, multi-sectoral investment portfolios that directly address national needs. The approval of the two deep-seaport projects alone, totalling over $3.4bn in private capital, will fundamentally optimise our maritime trade routes and decongest existing port facilities.
“The Bakassi Deep Seaport is a greenfield development designed to accommodate larger vessels and integrate an industrial cluster and Free Trade Zone, creating thousands of jobs and positioning Nigeria as a first-choice maritime destination.
“The approval of the two deep-seaport projects alone, totalling over $3.4bn, will fundamentally optimise our maritime trade routes and decongest existing port facilities,” he said.
He added that the Port of Ondo Deep Seaport is expected to open up the South-West’s solid minerals and agro-allied value chains while positioning Ondo State as a new logistics and export corridor.
On the hydropower project, he said, “The 460MW Katsina-Ala Hydropower Plant is a monumental greenfield project that will help address Nigeria’s persistent electricity deficit while unlocking vast renewable-energy potential.
“This $878 million investment will supply essential base-load power to the national grid and stimulate immense economic activity across the region. It is a strategic commitment to a cleaner, more reliable, and more sustainable energy future for our country.”
The latest approvals follow the clearance of three PPP projects earlier in November, the Product Authentication and Tracking System, the V-PASS contactless biometric verification platform, and the Port Harcourt International Airport concession, which attracted an additional $230.9m in private capital.
With the approvals announced on Thursday, the total number of PPP projects endorsed in 2025 has now exceeded 13, spanning maritime, health, aviation, power, and industrial sectors.
Other PPP projects approved this year include the MediPool initiative under the Health Ministry; the Maritime Electronic Management System of NIMASA; the Ikere Gorge 6MW Hydropower Plant; the Borokiri Coastal Fisheries Terminal; the Farin Ruwa 20MW Hydropower Project; and the concession for Enugu International Airport.
