The Federal Executive Council has approved $4.29 billion in new Public-Private Partnership projects, attracting significant private investment into Nigeria’s port and power sectors, the Infrastructure Concession Regulatory Commission (ICRC) said on Thursday.

The approvals cover three major projects: the $2.27bn Bakassi Deep Seaport, the $1.14bn Port of Ondo Deep Seaport, and the $878m Katsina-Ala 460MW hydropower plant. All will be funded entirely by private investors.

ICRC Director-General Dr. Jobson Ewalefoh said the projects align with the federal government’s push for private-sector-led infrastructure growth under the Renewed Hope Agenda. The new seaports are expected to ease congestion and improve trade capacity, while the hydropower plant will expand electricity supply.

The approvals form part of a wider pipeline of PPP projects cleared in 2025 across multiple sectors. Visit www.jocomms.com for more news.