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The Infrastructure Concession Regulatory Commission has unveiled a Model PPP Agreement covering risk allocation, change in law, dispute resolution and lender protections.
The Infrastructure Concession Regulatory Commission (ICRC) has unveiled a Model Public-Private Partnership (PPP) Agreement, APA News reported on 24 June 2026. ICRC Director-General Jobson Ewalefoh presented the document at a one-day stakeholder engagement session in Abuja.
What the model covers
According to the report, the model agreement addresses risk allocation, insurance and force majeure, change in law, dispute resolution, lender protections, performance monitoring, anti-corruption safeguards, and contract management and reporting. It was developed after consultations with legal experts, financial advisers, transaction specialists, government agencies, investors and lenders, and benchmarked against international practice. Mr Ewalefoh described it as providing “a reliable baseline for negotiations with greater speed, security and sophistication”. The report cited an estimate that Nigeria needs about US$100bn a year to close a US$2.3 trillion infrastructure deficit by 2043.
The model sits alongside the Federal Government’s February 2026 cooperation agreement with IFC, under which IFC’s transaction advisory services will prepare a pipeline of PPP projects in transport, energy, IT and sanitation, according to IFC.
Why it matters
Nigerian PPPs have often been slowed by negotiating each concession from scratch with different ministries, departments and agencies. A standard form negotiated with lender input should shorten that process, and gives investors a clearer view of which positions the government will accept.
Several clauses in the list will matter most. Change in law provisions determine whether a concessionaire is compensated when new taxes, tariffs or regulations affect project economics, a live issue given recent tax and electricity reforms. Lender protections, such as step-in rights, direct agreements and compensation on termination, are what make projects financeable on a limited recourse basis. Dispute resolution terms, particularly the choice between domestic and international arbitration and the seat, affect enforcement strategy against government counterparties.
For counsel, the practical questions are whether the model is mandatory or advisory for federal agencies, how far departures will need ICRC approval, and whether states running their own PPP programmes, including port and road projects now being announced, will adopt it. Projects prepared under the IFC pipeline will be early indicators of how closely the model is followed in practice.
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