Revised Guidelines for Private Public Partnership (PPP) Projects in Nigeria

The Infrastructure Concession Regulatory Commission (ICRC) has introduced revised guidelines for Private Public Partnership (PPP) projects in Nigeria, aiming to attract private sector finance for infrastructure development. The new framework, released under the ICRC Act 2005 and following a Presidential directive, sets clear approval thresholds of N20 billion for Ministries and N10 billion for Agencies and Parastatals. The guidelines provide directions and requirements for setting up the Project Approval Board and guide the procurement routes and PPP agreement.

Key Takeaways:

• The ICRC has set approval thresholds of N20 billion for Ministries and N10 billion for Agencies and Parastatals for PPP projects.
• The new framework aims to decentralize project approvals, allowing Ministries to approve projects under N20 billion and Agencies under N10 billion.
• The Project Approval Board will operate within the new thresholds, ensuring that all PPP projects comply with detailed requirements, including preparing the Outline Business Case (OBC), Full Business Case (FBC), and an approved financial model.
• All projects will be subjected to the commission's thorough due diligence and compliance checks, with zero tolerance for non-compliance.
• The ICRC will continue to facilitate and coordinate negotiations between MDAs and private proponents to ensure fair and implementable agreements.
• Dr. Jobson Oseodion Ewalefoh, Director General of the ICRC, emphasized the importance of accountability measures and strict adherence to the provisions.

Statistics:

• N20 billion: The new approval threshold for Ministries for PPP projects.
• N10 billion: The new approval threshold for Agencies and Parastatals for PPP projects.
• 2005: The year the ICRC Act was passed, under which the new framework was released.

Sources:

• ICRC Act, 2005
• Presidential Directive
• Interview with Dr. Jobson Oseodion Ewalefoh, Director General of the ICRC