Nigeria Approves Three PPP Projects Worth Over $4.29 Billion for Ports and Hydropower
The Federal Executive Council (FEC) of Nigeria has approved three Public-Private Partnership (PPP) projects totaling over N6.43 trillion (approximately $4.29 billion). The projects include the Bakassi Deep Seaport ($2.27 billion) and the Port of Ondo Deep Seaport ($1.14 billion), both under the Federal Ministry of Marine and Blue Economy, and the 460MW Katsina-Ala Hydropower Plant ($878.1 million) under the Federal Ministry of Water Resources and Sanitation.
All projects will be fully financed by private investors and are part of a strategy to attract private capital into critical infrastructure. The Bakassi Deep Seaport is designed to serve as a maritime hub for West and Central Africa, while the Ondo seaport aims to enhance the South-West’s mineral and agricultural potential.
The hydropower plant will address Nigeria's electricity deficit and contribute to the national grid. The approvals mark the second batch of seven PPP projects endorsed within a month.
