Tinubu: We’ve rebuilt ICRC into Nigeria’s infrastructure powerhouse

President Bola Ahmed Tinubu has declared that his administration has transformed the Infrastructure Concession Regulatory Commission (ICRC) into a strategic powerhouse to drive Nigeria’s infrastructure revolution through Public-Private Partnerships (PPPs).

Speaking at the 2025 Nigeria Public-Private Partnership Summit at the State House in Abuja, Tinubu said: “We did not come into government to maintain the status quo. We came to transform it. And that is why we have strengthened the ICRC into a fearless, competent engine room of Nigeria’s infrastructure revolution.”

He emphasised that the Commission is now empowered to de-risk, fast-track, and ensure PPP transactions yield tangible results.

Describing the reform as a “structural reset,” the President added, “We are building with precision. We are building with purpose. And through the ICRC, we are building with partners who share our resolve to make Nigeria rise.”

Tinubu highlighted Nigeria’s infrastructure gap, stating, “Our national aspirations far exceed what public budgets alone can deliver. That is why we must innovate, and why we must work together.”

He reiterated his administration’s commitment to raising Nigeria’s infrastructure stock to at least 70% of GDP by 2043 and called on the private sector to bring not just capital, but innovation and integrity: “Let this summit be remembered not for fine speeches, but for bankable projects, signed deals, and enduring progress.”

ICRC Repositioned as Catalyst for Inclusive Growth

In his welcome address, ICRC Director-General Dr. Jobson Oseodion Ewalefoh credited Tinubu’s leadership for repositioning the Commission.

“President Tinubu has taken deliberate steps to strengthen the ICRC… enhancing our ability to deliver PPPs faster and more efficiently.”

Dr. Ewalefoh praised the administration’s bold embrace of PPPs as a governance model and cited several ongoing transformative projects, including the MediPool medical infrastructure programme, Ikere Gorge Dam, and the MEMS platform.

The two-day summit attracted representatives from key ministries, international development partners, and private sector players.

Sessions focused on innovative financing, boosting investment in power and transport, and replicating successful PPP models from across Africa.