The Federal Government is intensifying efforts to unlock pension funds, Sukuk bonds, green financing, and other capital market instruments to tackle Nigeria’s $2.3 trillion infrastructure deficit, the Director-General of the Infrastructure Concession Regulatory Commission, Dr. Jobson Oseodion Ewalefoh, has said.
Speaking at the 2026 Infrastructure Dialogue in Abuja, Ewalefoh said Nigeria can no longer rely solely on public funding to finance critical infrastructure projects. He warned that government budgets currently cover less than 30% of the country’s annual infrastructure investment needs.
The dialogue, organised by Deutsche Partners Holding at the Shehu Musa Yar’Adua Centre, focused on innovative financing strategies under the theme: “Building Nigeria’s Future: The Strategic Role of DFIs and Capital Markets in Infrastructure Financing and Economic Development.”
According to Ewalefoh, Nigeria requires approximately $100 billion annually to bridge infrastructure gaps across transportation, energy, ICT, agriculture, aviation, and housing.
“With an annual investment requirement of $100 billion and public spending covering less than 30% of this need, traditional procurement models and dwindling budgets are no longer enough,” he said.
The ICRC boss said the government is now positioning Public-Private Partnerships as the primary vehicle for attracting long-term private capital into infrastructure development. He explained that the commission is working to create a more investor-friendly environment to attract institutional investors and development finance institutions into major projects.
“As the regulator overseeing PPPs in Nigeria, we commend the focus on shifting from diagnosis to execution. By examining how DFIs can de-risk projects and how instruments such as Sukuk, green bonds, and pension assets can be effectively structured, this dialogue tackles the critical challenge of securing long-term, affordable financing,” he stated.
Ewalefoh disclosed that the ICRC had begun implementing reforms to reduce bureaucracy and speed up project approvals. Revised PPP guidelines issued in August 2025 decentralised approval powers, allowing ministries to approve projects up to ₦20 billion and agencies up to ₦10 billion without Federal Executive Council approval.
He said the reform is expected to shorten project timelines and improve investor confidence. The commission, in partnership with the Federal Ministry of Justice and PPP experts, also plans to unveil a model PPP agreement next month to fast-track commercial and financial closure of infrastructure transactions. An updated pipeline of eligible PPP projects will be published soon to give investors clearer opportunities in Nigeria’s infrastructure market.
Earlier, President of the Abuja Chamber of Commerce and Industry, Dr. Emeka Obegolu, urged both public and private sector stakeholders to move beyond discussions and focus on practical financing solutions. He described infrastructure as the backbone of economic growth and warned that inadequate financing remains the biggest obstacle to modernising Nigeria’s economy.
“Beyond identifying infrastructure gaps, the greater challenge today lies in financing — how to mobilise adequate, long-term, and sustainable capital to support infrastructure development at the scale required for national growth,” he said.
Obegolu stressed that policy consistency, transparency, regulatory clarity, and stronger investor confidence are essential for attracting domestic and foreign investment. He noted that global economies have successfully used blended finance models, guarantees, infrastructure bonds, and PPPs to accelerate development, and urged Nigeria to strengthen its frameworks to achieve similar results.
Stakeholders at the dialogue agreed that unlocking long-term financing through pension assets, development finance institutions, and capital markets could be a game changer in addressing Nigeria’s infrastructure crisis and stimulating economic growth.
