INFRASTRUCTURE CONCESSION REGULATORY COMMISSION (ESTABLISHMENT, ETC.) ACT, 2005
Act · Governance
Policy date: 2005-01-01
An Act that establishes the Infrastructure Concession Regulatory Commission to oversee public-private partnership contracts. It targets federal agencies and private investors. This promotes sustainable investment in infrastructure projects.
INFRASTRUCTURE CONCESSION REGULATORY COMMISSION (ESTABLISHMENT, ETC.) ACT, 2005
What Is This Policy?
An Act establishing the Infrastructure Concession Regulatory Commission (ICRC) as the body responsible for overseeing all Public-Private Partnership contracts entered into by Federal Government ministries, departments, and agencies.
Who Does It Target?
Federal MDAs procuring infrastructure through PPP Private sector concessionaires and project companies Development finance institutions financing PPP projects The Federal Ministry of Finance and Budget Office
What Does It Aim to Achieve?
Institutionalise the PPP regulatory framework, ensure value for money in PPP contracts, protect public interests in long-term concessions, and attract sustainable private investment into infrastructure.
Key Features
ICRC Mandate: ICRC is the sole body that reviews, approves, and monitors all Federal Government PPP agreements. Approval Gate: No PPP agreement may be signed by an MDA without ICRC approval, providing an independent quality gate. Monitoring: ICRC monitors the performance of active PPP contracts and reports on compliance to the Federal Government. Capacity Building: ICRC provides technical assistance to MDAs in structuring and managing PPP transactions.
Current Status
Rollout Stage: Active Coverage: All Federal Government PPP transactions Beneficiaries: Nigerian public through quality-assured infrastructure PPPs; private investors through institutional support Funding: Federal Government; bilateral and multilateral technical assistance
How to Access
MDAs must submit PPP proposals to ICRC for approval at defined stages of project development Private sector proponents must engage through competitive processes All PPP contracts must include ICRC-mandated minimum provisions Application method: Engage ICRC at https://www.icrc.gov.ng for PPP transaction support.
Important Terms
PPP agreements signed without ICRC approval are void ICRC may direct renegotiation of contracts found to be against public interest All unsolicited PPP proposals must undergo ICRC review for value for money
Official Resources
Website: https://www.icrc.gov.ng Contact: Infrastructure Concession Regulatory Commission (ICRC)
Legal Framework
The Infrastructure Concession Regulatory Commission (Establishment, etc.) Act 2005 is the primary PPP legislation in Nigeria. It operates under the 1999 Constitution (Section 80 on public funds), the Fiscal Responsibility Act 2007, and the Public Procurement Act 2007. The Act aligns with the World Bank PPP Reference Guide, the UNCITRAL Legislative Guide on Privately Financed Infrastructure Projects, and the ECOWAS Infrastructure Development Policy.