Tinubu seeks public-private partnerships to fix Nigeria’s $2.3trn infrastructure deficit

Nigeria is making an urgent and emphatic call to the private sector, seeking significant investment and partnership to address its colossal infrastructure deficit, estimated at over $2.3 trillion.

Speaking at the 2025 Nigeria Public-Private Partnership (PPP) Summit in Abuja, President Bola Ahmed Tinubu, represented by Vice President Kashim Shettima, declared that the "old model of public-only infrastructure funding is no longer sustainable."

The summit, themed "Unlocking Nigeria’s Potential: The Role of Public-Private Partnerships in Delivering the Renewed Hope Agenda," underscored the administration's pivot towards a robust public-private collaboration as the "magic wand of transformation."

"We are not looking for investors to carry burdens. We are offering opportunities to create value," President Tinubu stated.

He emphasised the government's commitment to creating a stable foundation for investment through bold economic reforms, including the removal of unsustainable subsidies and the liberalisation of the foreign exchange regime.

The administration has also strengthened the Infrastructure Concession Regulatory Commission (ICRC) to "regulate, superintend, and de-risk PPP transactions."

Nigeria Is Ready for Business - ICRC boss

Dr. Jobson Oseodion Ewalefoh, Director-General and CEO of the ICRC, echoed the President's sentiments, stating, "Nigeria is open for business — and more importantly, ready for partnership."

He highlighted the nation's immense potential, citing its over 200 million people, growing middle class, and rich natural endowments as compelling reasons for private sector engagement.

The government's blueprint, the National Integrated Infrastructure Master Plan (2020-2043), aims to increase infrastructure stock from the current 30-35 percent of GDP to at least 70 percent by 2043.

From Promises to Projects: Summit Pushes for Tangible Infrastructure Delivery

However, President Tinubu stressed, "Blueprints do not build roads. Policies alone do not generate megawatts. These goals require collective action."

Beyond capital, the President appealed for "commitment, innovation, efficiency, and above all, integrity" from private sector partners.

He pledged to "fast-track approvals for viable projects" and ensure "coordination across Ministries, Departments, and Agencies to enable swift implementation," recognising that "what matters to the average Nigerian is not promises, but power in their homes, roads to their farms, access to clean water, modern hospitals, and quality schools."

Dr. Ewalefoh lauded President Tinubu's "uncommon courage in embracing Public-Private Partnerships," noting that the President has taken "deliberate steps to strengthen the ICRC, endorsing streamlined processes that enhance our ability to deliver PPPs faster and more efficiently."

He specifically mentioned presidential directives for strict compliance with the ICRC Act and Guidelines in all PPP transactions, as well as the unprecedented speed in approving proposals before the Federal Executive Council.

As President Tinubu concluded, "Let this summit be remembered not for fine speeches, but for bankable projects, signed deals, and enduring progress."

The urgent message from Abuja is clear: Nigeria is ready to build, deliver, and partner with the private sector to achieve its ambitious infrastructure goals.