JUST IN: FG declares non-compliance with ICRC Act illegal for public-private partnerships
The Federal Government of Nigeria, led by President Bola Ahmed Tinubu, has declared that non-compliance with the Infrastructure Concession Regulatory Commission (ICRC) Act by Ministries, Departments, and Agencies (MDAs) renders any Public-Private Partnership (PPP) agreements invalid and illegal.
The directive, outlined in the 2025 Budget by the Federal Ministry of Budget and Economic Planning, emphasizes the need for transparency and accountability in PPP processes.
It mandates that all MDAs strictly adhere to the ICRC Act, its policies, and guidelines to ensure that projects are legally and effectively executed.
Under the leadership of Dr. Jobson Ewalefoh, the ICRC has introduced key reforms to enhance PPP operations across the country.
These include a six-point policy framework designed to provide clear guidance for PPP agreements, faster processing times for compliance certificates, which are now issued within seven days, and improved collaboration between agencies to accelerate project timelines. Additionally, performance-based conditions have been introduced to ensure the effective delivery of PPP initiatives.
These measures reflect the government’s commitment to strengthening the legal and operational framework for PPPs, fostering economic growth, and improving infrastructure development in Nigeria.
Details later.
(AFRIPOST)
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