Nigeria approves $4.29bn infrastructure projects in ports and power

• Private investors to fully finance three major port and power projects
• Approvals seen as boost for trade, energy supply and market confidence

ABUJA, NIGERIA – Nigeria’s cabinet has approved $4.29 bn worth of public-private partnership projects, signalling renewed investor confidence after years of infrastructure funding strain.

The Federal Executive Council cleared three major PPP developments: the Bakassi Deep Seaport in Cross River State, the Ondo Deep Seaport in southwest Nigeria and a 460 MW Katsina-Ala hydropower plant in the country’s north-central region. All three projects will be financed entirely by private investors and implemented under the regulatory supervision of the Infrastructure Concession Regulatory Commission (ICRC).