Infrastructure financing across West Africa requires a stronger partnership between governments and the private sector, according to the Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Jobson Ewalefoh, who says public funds alone are no longer enough to meet the region’s growing infrastructure needs.
Speaking during a panel session at the ECOWAS Infrastructure Forum in Abidjan, Côte d’Ivoire, Ewalefoh urged governments across the sub-region to adopt Public-Private Partnerships (PPPs) as a long-term solution to infrastructure development.
According to a statement issued by the ICRC’s Acting Head of Media and Publicity, Ifeanyi Nwoko, Ewalefoh said roads, railways, housing, water supply and other critical infrastructure can no longer be financed solely through government budgets. He explained that PPPs have evolved beyond an alternative procurement model into a strategic development tool that enables governments to leverage private capital, innovation and technical expertise while ensuring effective risk allocation.
The ICRC boss noted that Africa continues to battle one of the world’s largest infrastructure financing gaps.
According to figures from the African Development Bank (AfDB), the continent requires between $130 billion and $170 billion annually to meet its infrastructure needs but currently faces an annual financing deficit of between $68 billion and $108 billion. The funding gap, he said, continues to slow economic growth, industrialisation and regional trade, while limiting investments in transportation, electricity, housing and water infrastructure across many African countries.
Ewalefoh said governments should continue procuring priority projects through conventional PPP arrangements but also take advantage of properly regulated unsolicited proposals initiated by private investors. He explained that under this model, private firms identify infrastructure opportunities, develop project concepts at their own cost and assume the associated development risks, thereby easing financial pressure on governments.
“An unsolicited proposal is a complementary proposal. We simply do not have enough public resources to develop every project through the solicited route,” he said.
He clarified that unsolicited proposals are not intended to replace government-led procurement but to complement it, particularly where public funding for project preparation is limited.
The ICRC Director-General disclosed that Nigeria has introduced reforms to strengthen its PPP framework.
According to him, the country now operates with clearly defined eligibility requirements, structured governance procedures, the Swiss Challenge procurement method, non-refundable application fees and performance bonds to ensure that only credible and financially viable unsolicited proposals proceed to implementation. He added that all privately initiated projects undergo the same rigorous evaluation and approval process as projects initiated by government.
Ewalefoh also challenged international development partners to become more involved in preparing bankable infrastructure projects. While acknowledging that many financiers are willing to fund completed projects, he observed that few are willing to invest in the early stages of project development. He argued that this financing gap is precisely where unsolicited proposals provide value by allowing private investors to shoulder the initial development costs and risks.
The ICRC chief further called for stronger collaboration among ECOWAS member states through the establishment of a regional network of national PPP institutions. According to him, such cooperation would strengthen technical capacity, promote knowledge sharing and harmonise standards for project appraisal, procurement and implementation across the region. He added that common evaluation standards would also improve investor confidence and enhance the delivery of cross-border infrastructure projects.
Representatives from Ghana, Senegal and Côte d’Ivoire also participated in the panel discussion, sharing their countries’ experiences in using PPPs to accelerate infrastructure delivery and attract private investment.
Participants agreed that Public-Private Partnerships remain the most practical mechanism for mobilising long-term private capital, narrowing West Africa’s infrastructure deficit and supporting sustainable economic growth across the region. Ewalefoh reaffirmed Nigeria’s commitment to building a transparent and efficient PPP ecosystem capable of attracting credible investment into critical infrastructure while supporting the country’s long-term economic development objectives.
