The Infrastructure Concession Regulatory Commission (ICRC) and the Federal Ministry of Power have agreed to strengthen collaboration to accelerate critical Public-Private Partnership (PPP) projects in Nigeria’s power sector.
The Director-General of the ICRC, Dr Jobson Ewalefoh, disclosed this after meeting with the Minister of Power, Mr Joseph Olasunkanmi Tegbe, to discuss strategies for attracting private investment into critical power infrastructure.
In a post on his X handle, Ewalefoh said the meeting focused on aligning strategies to increase private-sector participation and improve efficiency across the power sector’s value chain.
He described the power sector as a key driver of Nigeria’s economic development, stressing the need to review strategic roadmaps for attracting private capital into critical infrastructure and pursuing concessions aimed at improving efficiency.
The discussions also centred on strengthening cooperation between the ICRC and the Ministry of Power to accelerate infrastructure development through PPP arrangements.
Ewalefoh said both parties reaffirmed their commitment to advancing infrastructure development in the sector.
He added that Tegbe assured the ICRC of the ministry’s readiness to “fast-track project approvals for energy projects nationwide.”
The ICRC director-general, in turn, pledged that the commission would continue to streamline regulatory processes while maintaining rigorous oversight to promote transparency and protect the interests of both the Nigerian public and private investors.
The development comes as the Federal Government continues to encourage greater private-sector participation in the financing and development of critical infrastructure, particularly in the power sector.
