The Federal Government of Nigeria has expressed willingness to work with long-term partners in order to bridge the nation’s infrastructure gap.
President Bola Tinubu expressed the nation’s readiness on Tuesday while declaring open the 2025 Nigeria Public-Private Partnership (PPP) Summit, organized by the Infrastructure Concession Regulatory Commission (ICRC), held at the State House Conference Centre in Abuja.
TheFact Daily reports that Nigeria requires an estimated $3 trillion over the next 30 years to bridge the infrastructure gap.
Last year, the federal government approved the National Integrated Infrastructure Master Plan (NIIMP) 2020-2043, a strategic document guiding infrastructure development in Nigeria.
The aim is to boost Nigeria’s economy through massive infrastructure investment, with the key goal of raising the nation’s infrastructure stock to 70% by the year 2043.
The plan requires a total investment of $2.3 trillion over the 23-year period, with both private and public sectors contributing.
Speaking at the Summit, President Tinubu, represented by Vice President Kashim Shettima, said the old model of public-only infrastructure funding is no longer sustainable, adding that the national aspirations far exceed what public budgets alone can deliver.
He said the administration has strengthened the Infrastructure Concession Regulatory Commission and enhanced its capacity to regulate, superintend, and de-risk PPP transactions. Therefore, it is determined to deliver infrastructure that is both sustainable and inclusive.
The President said the NIIMP 2020-2043 remains the administration’s blueprint. “It is our compass to raise infrastructure stock from the current 30 to 35 percent of GDP to at least 70 percent by the year 2043. But blueprints do not build roads. Policies alone do not generate megawatts. These goals require collective action. And that is the focus of my administration.”
He told the private sector partners that the administration is asking not just for capital, but for commitment, adding that Nigeria offers scale, demand, and returns like no other African market.
“But we need more than investment. We need innovation, we need efficiency, and above all, we need integrity. I urge you to look beyond the risks and recognise the immense opportunity to shape a nation that is not just rising, but ready,” he said.
He assured that the projects that would emerge from the summit would not gather dust on paper or linger in bureaucratic limbo, but would be speedily implemented.
Earlier, in his Welcome Address, the Director-General of ICRC, Dr. Jobson Ewalefoh, said under President Tinubu’s Renewed Hope Agenda, Nigeria has witnessed a bold recalibration of public policy, prioritizing infrastructure as the engine of inclusive growth.
According to him, the administration has demonstrated uncommon courage in embracing Public-Private Partnerships — not merely as a funding mechanism, but as a governance model that rewards innovation, efficiency, and accountability.
Dr. Ewalefoh assured both local and international investors that Nigeria is open for business — and more importantly, ready for partnership.
He said with over 200 million people, a growing middle class, rich natural endowments, and an enormous infrastructure gap estimated at over $2.3 trillion — the case for PPPs in Nigeria is not only compelling, it is urgent.
While stating that ICRC is aligning regulation with facilitation, compliance with collaboration, the DG said the Commission is committed to ensuring that every PPP transaction is not just legally sound, but economically viable and socially impactful.
“The Commission stands ready to walk this journey with all partners — from project conceptualization to financial close and beyond,” he added.
The summit, themed “Unlocking Nigeria’s Potential: The Role of Public-Private Partnerships in Delivering the Renewed Hope Agenda,” brought together key stakeholders to explore how collaborative partnerships between government and private sector can accelerate national development goals.
