Stakeholders at the 2025 Nigeria Public-Private Partnership (PPP) Summit have urged the Federal Government to fast-track the establishment of a national Infrastructure Company (Infra-Co) to address Nigeria’s crippling infrastructure gaps, especially in transportation.
At the summit organised by the Infrastructure Concession Regulatory Commission (ICRC), experts, including international investors, infrastructure developers, and private sector leaders, pressed for a more substantial commitment and a clearer investment roadmap to boost investor confidence and attract capital inflows.
Urgent Call for Infra-Co
Central to the discussion was the proposal to create an Infra-Co modelled after global best practices, to own and manage public infrastructure, especially in the railway sector, and to concession it for operation and maintenance.
Speaking during a panel session titled ‘Maximising Nigeria’s Economic Potentials in the Transport Sector Using PPPs: Focus on Rail and Road Infrastructure’, Rowland Ocholi, Managing Director of Bethlehem Rail Infrastructure Limited, underscored the need to establish what he called the Nigerian Railway Infrastructure Company.
“We call for the setting up of an infrastructure company, which we have christened the Nigerian Railway Infrastructure Company. It will own the fixed infrastructure and grant maintenance concessions. It will also develop new rail infrastructure and concession it out to operators—similar to the Hong Kong MTR model,” Ocholi said.
According to him, the company should have a core investor holding at least a 50% stake, with the government gradually divesting through a market flotation.
He also criticised the excessive attention given to road infrastructure over rail, despite rail’s long-term economic potential.
“There’s too much focus on road transportation in PPPs while rail transportation is being neglected,” he added.
The New Focus
For roads, Nasir Alli, a past President of the Permanent International Association of Road Congress, advocated for sectoral reform through centralisation.
“My suggestion is to consider centralising the road sector in a semi-autonomous agency. This could help resolve conflicting interests and improve efficiency,” he said.
This reform, he noted, is essential to ensure a coordinated and coherent approach to federal road management.
Opuiyo Oforiokuma, Senior Partner at the Africa50 Infrastructure Acceleration Fund, noted improvements in the Highway Development and Management Initiative (HDMI), citing at least one operational contract and another under construction.
He urged the government to build a more structured road authority around the Federal Roads Maintenance Agency (FERMA).
“FERMA has the potential to become the foundation for a robust institution that will attract private capital, provided it is restructured to handle financing and concessioning responsibilities,” he stated.
Emphasising technology’s role, Lai Are, Managing Director of Catamaran Nigeria Limited—concessionaire on the Keffi-Akwanga-Lafia-Makurdi Expressway—said the success of toll systems depends on integrated digital payment platforms and bank participation.
“We need the banks to support systems like Park and Go to make tolling efficient. We must begin to see roads as economic development assets, not just public utilities,” he argued.
Investor Confidence Hinges on Stability
Adeniran Ajakaiye, Managing Director of Africa Plus Limited, which is overseeing the Benin-Asaba Expressway concession, said political risks remain a significant deterrent to long-term investment.
“Investors are wary of political instability. There needs to be a structured, transparent transition between governments to avoid project disruptions and restore investor confidence,” he warned.
He also emphasised the importance of involving state and local governments in PPP frameworks to ensure project continuity and alignment.
The panel commended the ICRC for its consistent efforts in building institutional capacity for PPPs, while reiterating that for Nigeria to unlock the full value of private investments in infrastructure, it must streamline regulations, guarantee investor protection, and demonstrate long-term policy consistency.
As the summit wrapped up, one consensus rang clear: Nigeria’s infrastructure ambitions will remain unfulfilled without bold, strategic moves to institutionalise PPPs and fast-track reforms like the creation of Infra-Co.
