Business
President Tinubu empowers ICRC to approve PPP projects Valued below N10-20bn for MDAs
“Under the new directive, PPP projects valued below ₦10 billion for Parastatals/Agencies and ₦20 billion for Ministries will now be approved by respective Project Approval Boards (PABs) that will be constituted under ICRC guidelines and regulations.
President Bola Ahmed Tinubu has empowered the Infrastructure Concession Regulatory Commission (ICRC) to implement a more efficient and better streamlined Public-Private Partnership (PPP) project delivery process by approving PPP thresholds for Ministries, Departments, and Agencies (MDAs).
The approval was granted during the just-concluded Nigeria PPP Summit 2025, where President Tinubu declared that his administration was strengthening the ICRC as the “engine room of Nigeria’s infrastructure revolution,” noting that PPPs would be pivotal in driving transformative development across the country.
Until now, all PPP projects—regardless of size—were subjected to Federal Executive Council (FEC) approval, resulting in extended processes and limiting the participation of MDAs with small and mid-scale projects.
The Director General of the ICRC, Dr Jobson Oseodion Ewalefoh, who disclosed the presidential approval, said: that the new policy decentralizes the approval process, allowing MDAs to approve projects below specified thresholds under ICRC guideline, thereby supporting all scale of projects and encouraging broader private sector investment in PPPs.
“Under the new directive, PPP projects valued below ₦10 billion for Parastatals/Agencies and ₦20 billion for Ministries will now be approved by respective Project Approval Boards (PABs) that will be constituted under ICRC guidelines and regulations.
Only projects exceeding these thresholds—or those involving multiple Ministries and requiring inter-agency coordination—will require FEC approval.
“Importantly, all such projects must be entirely privately funded, with no government guarantees or financial commitments from the treasury.
Notwithstanding the new thresholds, every PPP project must be submitted to the ICRC for review and certification.
The ICRC must issue certificates of compliance before any PPP project can be approved by the PAB and other approving bodies,” he said.
Dr Ewalefoh explained that this framework marks a shift from the previously adopted one-size-fits-all approach, to a more dynamic and scale-sensitive model that will unlock low-value but high-impact projects. “This approval is a game-changer, especially for sectors like health, education, agriculture, and housing.
We expect to see private sector- led investments in projects like rural diagnostic medical centers, construction of classroom blocks, student hostel and delivery of affordable housing schemes across the country—with less bureaucratic requirements under the new adopted process.” he added.
He emphasized that the new framework aligns with President Tinubu’s broader public procurement reforms, ensuring harmony across the government’s financial and investment systems.
“By decentralizing approvals, the government is supporting and unlocking investments opportunities through improved capital inflows, job creation, and faster project delivery—exactly what we need in this current economic climate.”
Dr. Ewalefoh stated that the ICRC will continue to promote, guide, facilitate and regulate the PPP ecosystem in the country, while collaborating with other agencies in the infrastructure ecosystem including the Bureau of Public Procurement (BPP), Ministry of Finance Incorporated (MOFI), Bureau of Public Enterprises (BPE) among others.
He enjoined MDAs as project owners and grantors to take advantage of the approved threshold and the new guidelines that will be issued by the Commission.
MDAs are encouraged to embrace the utilization of PPPs for the delivery of critical infrastructure in delivering on the Renewed Hope Agenda of Mr. President.
Business
NAFDAC’s Ban on sachets alcohol: the economy repercussions, by MAN
The Association emphasised that the ban would likely lead to the “Loss of over N1.9 trillion in investments, primarily from indigenous Nigerian companies.
The Manufacturers Association of Nigeria (MAN) has said that the government’s move to ban the production and sale of alcoholic beverages packaged in sachets and small PET bottles, effective December 31, 2025, will have severe repercussions on the economy.
” This announcement by the NAFDAC, in our view, is counterproductive and threatens to disrupt the economy significantly at a time when it is beginning to stabilise,” said the Association through its Director-General, Ajayi-Kadir.
The Association emphasised that the ban would likely lead to the “Loss of over N1.9 trillion in investments, primarily from indigenous Nigerian companies.
• Mass retrenchment of over 500,000 direct employees and approximately 5 million indirect employees through contracts, marketing, and logistics.”
Ajayi-Kadir said that the earlier directive from the Ministry of Health for a one-year extension, which included the consideration and validation of the draft National Alcohol Policy by stakeholders, should have been taken into account before any significant announcement from another government body.
“We believe that a consultation with whether through a public hearing or focused meetings with relevant parties in the alcohol beverage industry, should have been conducted by the appropriate Senate Committee before an outright ban was imposed.
This approach was successfully followed by the House of Representatives in the recent past,” he stated.
Ajayi-Kadir highlighted that issues related to the ban on alcohol in sachets and small PET bottles were addressed by a broad committee that included all stakeholders, along with NAFDAC representatives, who validated the National Alcohol Policy in October 2025. The committee made the following key recommendations:
• Develop multi-sectoral action plans.- Strengthen enforcement by law enforcement agencies
• Establish licensed liquor stores/outlets in Local Government Areas nationwide.
• Increase monitoring and compliance checks by NAFDAC, FCCPC, and others to ensure product quality and safety.
• Regulatory bodies should focus more on regulation, monitoring, and educational campaigns to inform stakeholders and the public about the dangers of underage alcohol consumption and its sale in motor parks.
• Conduct educational campaigns in secondary schools across the country to raise awareness among students about the dangers and issues related to alcohol abuse.
Furthermore, we would like to note that the unfounded and untested claim of abuse by minors has been challenged by several independent studies conducted by the government.
The industry has proactively launched campaigns promoting responsible alcohol consumption to discourage underage abuse, resulting in expenditures exceeding one billion Naira on media outreach across the nation, which has effectively just underage drinking.
Ajayi-Kadir also stressed that the Senate’s directive for an outright ban is unjust and does not reflect the industry’s true conditions, as it seems the upper chamber has only considered NAFDAC’s perspective.
NAFDAC was part of the validation organised by the Ministry of Health, and it should have presented its views to the Committee and the Ministry during that process, rather than circumventing these channels and approaching the National Assembly without consulting other stakeholders.
Business
Following Lagos, FG moves to ban single-use plastics
In his inaugural address, the SGF, George Akume, stated that the initiative aligned with Nigeria’s commitment to global environmental standards.
The Federal Government has commenced the process to ban single-use plastics, inaugurating a committee to steer the policy.
Lagos government began fully enforcement ban on single-use plastics (SUPs), including styrofoam packs, plastic straws, disposable cups, plastic cutlery, and nylons less than 40 microns thick, on July 1, 2025.
The Office of the Secretary to the Government of the Federation (SGF) , yesterday , set up an Inter-Ministerial Committee on the Ban of Single-Use Plastics (SUPs).
Earlier, the Federal Executive Council (FEC) during its meeting on June 25, 2024, approved the ban , specifically targeting Polyethene Terephthalate (PET) bottles, styrofoam food packs, plastic shopping bags, sachet water packaging, and plastic straws.
In his inaugural address, the SGF, George Akume, stated that the initiative aligned with Nigeria’s commitment to global environmental standards.
He said: “The FEC decision was in line with the Federal Government’s efforts to tackle various health and environmental challenges, especially those caused by single-use plastic products and therefore, approved the ban in the country of polyethene terephthalate (PET) bottles, styrofoam, plastic bags, sachet water and straw, which has become an environmental sanitation challenge.”
Business
UBA commits $102m direct investments in Chad’s securities
Themed “Financing African Competitiveness – Building Bridges, Powering Progress,” the forum highlighted investment opportunities under Chad’s $30 billion Tchad Connexion 2030 development blueprint.
•Oliver Alawuba, GMD UBA
United Bank for Africa (UBA) Plc has announced a $102 million direct investment in the State of Chad’s securities in an efforts to strengthen economic growth and financial inclusion across Africa.
The announcement was made by UBA Group Managing Director/Chief Executive Officer, Oliver Alawuba, during his keynote address at the UAE–Chad Trade and Investment Forum held on Monday, November 10, 2025, in Abu Dhabi, United Arab Emirates.
Themed “Financing African Competitiveness – Building Bridges, Powering Progress,” the forum highlighted investment opportunities under Chad’s $30 billion Tchad Connexion 2030 development blueprint.
According to Alawuba, the $102 million investment underscored UBA’s confidence in Chad’s economic potential and demonstrates its long-term commitment to financing sustainable development on the continent.
“At UBA, our commitment is two-fold: we are both architects of national infrastructure and champions of grassroots financial inclusion,” he said. “Here in Chad, this is not a promise; it is a proven track record.”
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