By Anifowoshe Oladipupo
Vice President Kashim Shettima on Monday declared Nigeria open for business as he officially launched the Nigeria 2025 Public-Private Partnership (PPP) Summit at the State House, Abuja.
The summit, organised by the Infrastructure Concession Regulatory Commission (ICRC), brought together key stakeholders from government and the private sector to discuss strategies for bridging Nigeria’s $2.3 trillion infrastructure gap.
Speaking on behalf of President Bola Tinubu, Shettima said, “We are not seeking investors to carry burdens; we are creating opportunities to generate value. We want long-term partners committed to bridging our infrastructure gap with purpose, precision, and integrity.”
He emphasised that Nigeria cannot build a modern economy on outdated infrastructure, stressing that relying solely on government funding for capital projects is no longer sustainable.
Shettima highlighted recent reform measures by the Tinubu administration, including the liberalisation of the foreign exchange market, the removal of fuel subsidies, and the strengthening of the ICRC to enhance investment attractiveness.
“Policies alone don’t generate megawatts or build roads,” he noted. “What we need is collective action.”
Citing the National Integrated Infrastructure Master Plan (2020–2043), the Vice President said the goal is to raise Nigeria’s infrastructure stock from 30-35% of GDP to at least 70% by 2043.
With a population exceeding 230 million projected to hit 440 million by 2050, Shettima underscored Nigeria’s vast market potential.
“One in every four Black people is a Nigerian. There is no African market like this,” he said, urging investors to focus on long-term impact.
“Let this summit not be remembered for kind speeches, we’ve had those for decades but for bankable projects, signed deals, and enduring progress.”
In his welcome address, ICRC Director General Jobson Ewalefoh reaffirmed the government’s commitment to closing the infrastructure deficit through strategic PPPs.
Speaking on the summit’s theme, “Unlocking Nigeria’s Potential: The Role of PPPs in Delivering the Renewed Hope Agenda,” Ewalefoh described PPPs as vital to achieving sustainable development.
He cited ongoing projects such as the Highway Development and Management Initiative, the Egini Medical Infrastructure Scheme, and the Dasin Hausa Dam as indicators of progress.
“ICRC is committed to ensuring that all PPP projects are legally compliant, economically viable, and socially impactful,” Ewalefoh stated.
