FG launches Ministerial Project Approval Board to boost transparency in PPP projects

The Federal Government has inaugurated the Ministerial Project Approval Board (MPAB) to promote transparency and efficiency in the execution of Public-Private Partnership (PPP) projects across the country.

Speaking at the inauguration ceremony in Abuja on Tuesday, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said the initiative underscores the Tinubu administration’s resolve to foster partnerships that harness private capital and innovation for economic growth.

“This administration is committed to partnerships that leverage private capital and innovation to deliver real economic value. Our focus is on reforms that stimulate investment, productivity, and job creation,” Edun stated.

The minister also chaired the Board’s maiden review session, which evaluated a PPP proposal from the Equipment Leasing Registration Authority (ELRA) aimed at transforming Nigeria’s leasing industry. The project targets the digitisation of regulatory processes, enhanced market transparency, and improved access to equipment financing for businesses — particularly small and medium-scale enterprises (SMEs) that rely on leasing to acquire machinery, vehicles, and technology for expansion.

Edun stressed that the MPAB would operate under strict principles of due process, value for money, and accountability in all PPP engagements, noting that the Board’s work would encourage responsible private-sector participation while safeguarding public interest.

He reaffirmed the federal government’s commitment to promoting partnerships that drive economic development, attract investments, and generate employment opportunities, adding that the administration is ready to work closely with the private sector to achieve these objectives.

Presenting ELRA’s transformation plan, the Registrar and Chief Executive Officer, Mr. Donald Wokoma, outlined proposed digital platforms, industry development initiatives, and capacity-building programmes aimed at deepening participation in the leasing industry and supporting enterprise-led growth.

Private-sector stakeholders at the event pledged their readiness to deploy technology and financial solutions that would enhance access to leasing services and strengthen the overall business environment.