Olaniwun Ajayi LP

A Legal Analysis of the ICRC PPP Regulatory Notice for MDAs 2025

Nigeria’s PPP regime is entering a new phase of rigorous scrutiny.

The ICRC’s August Notice not only sets out clearer benchmarks for project approvals, but also redefines the balance of accountability across the system.

At its core, however, lie two critical questions.

What counts as “value” in Public–Private Partnerships (PPPs), under the new thresholds? And where should presidential oversight rightly begin and end?

These questions are not merely procedural; they go to the heart of investor confidence, project bankability and the credibility of Nigeria’s infrastructure delivery framework.

Our latest analysis unpacks what private investors must now carefully consider as they adapt to this evolving directive.

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