Nigeria's Federal Executive Council Approves N6.43tn PPP Projects Including Two Deep Seaports and Hydropower Plant

Nigeria's Federal Executive Council has approved three Public-Private Partnership (PPP) projects valued over N6.43 trillion (approximately $4.29 billion). These projects include the $2.27 billion Bakassi Deep Seaport, the $1.14 billion Port of Ondo Deep Seaport, and the $878 million Katsina-Ala Hydropower Plant.

This marks the second batch of PPP initiatives endorsed in a month, as part of President Bola Tinubu's Renewed Hope Agenda aimed at enhancing private sector investment in infrastructure. The projects are expected to significantly boost maritime trade routes, create jobs, and address power shortages in the region.

The approvals are seen as a response to Nigeria's need for an estimated $100 billion annually in infrastructure spending to close its deficit. The total number of PPP projects approved in 2025 has now exceeded 13, covering various sectors including maritime, health, and energy.