The Nigeria government approved projects comprise the Bakassi Deep Seaport in Cross River State, the Ondo Deep Seaport in the South West, and the Katsina-Ala Hydropower Plant in the North Central region. All three projects will be fully financed by the private sector and are subject to the regulatory oversight of the Infrastructure Concession Regulatory Commission (ICRC).
Collectively, these approvals represent one of the largest single inflows of private capital into Nigeria’s infrastructure sector in recent years. They align with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which places strong emphasis on private sector participation as a catalyst for economic growth, competitiveness, and job creation.
Speaking on the developments, the Director-General of the ICRC, Dr Jobson Oseodion Ewalefoh, said the scale of the investments underscores rising confidence among both local and foreign investors in Nigeria’s ongoing reforms. He attributed this confidence to clearer policies, economic liberalisation, and strengthened regulatory institutions, which are increasingly translating into bankable projects.
“These are decisive, multi-sectoral investments that directly address critical national needs,” Ewalefoh said. “The approval of the two deep seaport projects alone, valued at over $3.4 billion in private capital, will significantly optimise Nigeria’s maritime trade routes and ease congestion at existing ports.”
The Bakassi Deep Seaport, estimated at $2.27 billion, is being developed under the Federal Ministry of Marine and Blue Economy. Ewalefoh described it as a new maritime gateway that will serve the North Central and North East regions, while positioning Nigeria as a logistics hub for West and Central Africa. The greenfield port is designed to accommodate larger vessels and will integrate an industrial cluster and Free Trade Zone, a combination expected to generate thousands of jobs and strengthen regional trade.
Similarly, the Ondo Deep Seaport, valued at approximately $1.14 billion and also under the Marine and Blue Economy ministry, is intended to unlock the South West’s solid minerals and agro-allied export potential. The port will provide an alternative trade outlet and reduce pressure on existing facilities in Lagos.
Beyond maritime infrastructure, the Council also approved the $878 million Katsina-Ala Hydropower Plant, a 460-megawatt renewable energy project under the Federal Ministry of Water Resources and Sanitation. According to Ewalefoh, the project will deliver reliable base-load power to the national grid and stimulate economic activities across the North Central corridor.
“The 460MW Katsina-Ala Hydropower Plant is a landmark greenfield project that will help address Nigeria’s long-standing electricity deficit while unlocking significant renewable energy potential,” he said, describing it as a strategic investment in a cleaner, more reliable, and sustainable energy future.
The Council’s endorsement forms part of the second batch of PPP approvals within a month. Earlier in November, the Federal Government approved three additional projects—the Port Harcourt International Airport concession, the Product Authentication and Tracking System, and the V-PASS biometric verification platform—which together attracted $230.9 million in private investment.
With these latest decisions, Nigeria has approved more than 13 PPP projects in 2025 alone. Projects cleared this year span healthcare, maritime systems, fisheries terminals, airports, and multiple hydropower plants, highlighting the administration’s reliance on private capital to fast-track infrastructure delivery.
Ewalefoh credited President Tinubu’s leadership and support for strengthening the ICRC, noting that it has repositioned the commission as a key driver of PPP-led infrastructure development. He added that the steady flow of approvals reflects confidence in the commission’s mandate and signals Nigeria’s openness to large-scale, privately financed infrastructure across Africa’s largest economy.