Cross River Governor, Senator Bassey Otu and his Ondo State counterpart, Lucky Aiyedatiwa, have underscored the potential of Public-Private Partnerships in driving growth and addressing development challenges.

According to them, Public-Private Partnerships (PPPs) offer a viable solution to bridging infrastructure gaps, enhancing service delivery, and stimulating economic growth, thereby improving the lives of citizens and fostering sustainable development.

They spoke as panelists at the 2025 Nigeria Public-Private Partnership Summit in Abuja, the nation’s capital.

The high-level conference was convened by the Director General, Infrastructure Concession Regulatory Concession (ICRC), Dr. Jobson Oseodion Ewalefoh with President Bola Tinubu as chief host.

The conference themed, ‘Unlocking Nigeria’s Potential: The Role of Public-Private Partnerships in Delivering the Renewed Hope Agenda,’ brought together policymakers, investors, and industry leaders within and outside the country. The two-day event featured five sessions with 42 speakers, attracting around 1,500 attendees with 15 partner organisations.

Titled, ‘Leveraging PPPs for Infrastructure Delivery in Nigeria: Opportunities and Potentials’, the first session was moderated by Nnanna Anyim-Ude of the Nigerian Economic Summit Group (NESG).

In his intervention, Governor Otu highlighted the vast potential of Public-Private Partnerships (PPPs) in addressing Nigeria’s infrastructure deficit.

According to him, PPPs can attract private sector investment, expertise, and efficiency to deliver critical infrastructure projects, drive economic growth, and improve the quality of life for Nigerians.

Speaking on the $3.5 billion Bakassi Deep Seaport, Governor Otu highlighted the need for the project, citing increasing port congestion and Nigeria’s aspiration to become a trans-shipment hub for sub-Saharan Africa.

“The development of the Bakassi Deep Seaport is imperative to increase port capacity in the country and ease the pressure on existing ports.

“Most of the subnationals we have today are doing their very best to key into different sectors, taking their complementary advantage into consideration,” he stated.

On his part, Governor Aiyedatiwa listed the immense benefits of PPPs to include infrastructure development, increased efficiency, job creation, economic growth and capacity building.

On the Ondo Seaport, the governor said the $1.3 billion multipurpose project would transform the state’s economy, create thousands of jobs, and attract investments, while also serving as a catalyst for industrialisation and economic growth in the region.

This, he stressed, would increase the state’s revenue base and improve the standard of living for its citizens.

He said: “Our administration recognizes the potential of Public-Private Partnerships in driving growth and addressing development challenges, with a focus on enhancing public service delivery. We remain committed to fostering and expanding these collaborations.

“For us, we’ve moved past so many stages. We just need a few technical amendments between ICRC and the Ministry of Marine and Blue Economy.

“As I’m sitting here, I’ve received letters of invitation to come to visit two of our investors who are keenly ready to move in as soon as that area is amended.

“We are ready. I believe our own deep sea port is a unique one. The modern vessels, the depth being required is about 16.5; we have a natural 18metre deep already without being dredged.

“But the beauty of it is that we still need more ports in Nigeria. In fact, every state even needs more than one port just like we have in Lagos with Apapa, Tin Can, Lekki Deep Sea Ports, yet we are having congestion.

“It’s not just about vessels bringing in products only. We have a lot of products we are to ship out of Nigeria. Don’t forget that Ondo State is a leading cocoa producing state in Nigeria”.

The PPP Summit, convened by the Infrastructure Concession Regulatory Commission (ICRC), is part of a broader effort by the Tinubu administration to bridge Nigeria’s estimated $2.3 trillion infrastructure deficit by leveraging private capital, technical expertise, and innovation to deliver inclusive and sustainable development across all sectors of the economy.

The Summit equally featured a session: ‘Case studies on PPP Projects’ moderated by Dr Michael Uwaechie, Principal Partner, Ivy Crest Solicitors.

In another panel session titled, ‘Innovative Financing in Delivering Successful PPPs’, moderated by Dimeji Salaudeen of KPMG, experts shared insights on risk management, funding options, and best practices to attract investments and deliver impactful infrastructure projects in Nigeria.

Tony Edeh, Group CEO, Norrenberger Assets Management Limited, pointed out that “There’s alternative liquidity and capital accessibility for financing infrastructure. As private sector players, our role is to innovate instruments that fit Nigerians’ lifestyle and unlock that liquidity.”

Also, Alexandre Leigh, Global Sector Lead (Airports, Transaction Advisory Services (PPP), International Finance Corporation (IFC), argued that the challenge does not lie in securing funding, but in finding projects that are properly planned and prepared for investment.

“One frustrating part of my job is getting calls from investors and developers looking for projects to invest in. In my view, there’s no lack of financing, but rather a lack of well-prepared projects,” he stated.