The Infrastructure Concession Regulatory Commission (ICRC) has announced that it will now issue Outline Business Case (OBC) and Full Business Case (FBC) Certificates of Compliance within seven days, aiming to accelerate public-private partnership (PPP) projects in Nigeria. This development follows a directive from President Bola Tinubu to speed up infrastructure development through private-sector investment.
Ifeanyi Nwoko, Acting Head of Media and Publicity for the ICRC, stated that the new timeline is part of efforts to reduce the turnaround time for critical project approvals.
ICRC Director-General, Dr. Jobson Ewalefoh, emphasized that this move aligns with President Tinubu’s *Renewed Hope Agenda* aimed at closing Nigeria’s infrastructure gaps. “We have streamlined our processes to issue either the Outline Business Case Certificate of Compliance or the Full Business Case Certificate of Compliance to Ministries, Departments, and Agencies (MDAs) within seven days,” Ewalefoh said.
He added that while the approval process is now quicker, the commission will not compromise its rigorous review standards. Only projects that meet strict viability, bankability, and value-for-money criteria will receive approval.
“This initiative will ensure that PPP projects, crucial for addressing Nigeria’s infrastructure deficit, are delivered in record time,” Ewalefoh noted, urging other government bodies to match the ICRC’s pace in accelerating national infrastructure development.
This move is part of broader reforms introduced by Ewalefoh in August, which include enhancing PPP processes and fostering inter-agency collaboration to boost private sector investment in infrastructure.
