The Infrastructure Concession Regulatory Commission (ICRC) has issued new guidelines on Public-Private Partnerships (PPPs), decentralising approval powers to Ministries, Departments and Agencies (MDAs) in a bid to speed up project delivery and attract private sector investment.
The disclosure was contained in a press release issued by the Commission on Sunday, stating that the framework was developed under the ICRC Act, 2005, and in line with a Presidential directive aimed at overhauling Nigeria’s infrastructure delivery through PPPs.
According to the statement, the new rules establish a definitive framework for the conception, development, and execution of PPP projects in Nigeria.