GOVTS CAN’T FUND INFRASTRUCTURE ALONE, ICRC INSISTS

The Infrastructure Concession Regulatory Commission (ICRC) has reiterated that governments at all levels cannot single-handedly fund the massive infrastructure deficit facing Nigeria, calling for greater private sector participation.

ICRC Director-General, Mr. Chidi Izuwah, emphasised the need for innovative financing models, including public-private partnerships (PPPs), to bridge the funding gap. He noted that huge investments are required in roads, rail, power, water, and digital infrastructure to support economic growth and improve quality of life.

The Commission stressed that private capital, expertise, and efficiency are critical to delivering high-quality projects on time and within budget. It urged state governments to create enabling environments through transparent policies, clear regulatory frameworks, and bankable projects to attract investors.

Experts at a recent forum agreed that over-reliance on public funding is unsustainable given competing demands on national budgets. They highlighted successful PPP models in other sectors and called for accelerated adoption across the country.

The ICRC reaffirmed its commitment to supporting federal and sub-national governments in structuring viable infrastructure projects that deliver value for money and long-term development impact.