Nigeria: Sweet-Bitter Taste of PPP Projects in Nigeria

opinion

The major evolving economic policy suitable to fast-track infrastructure development of countries in the world today is the Public-Private Partnership (PPP). This policy has been adopted and put into effective use by many countries, leading to a massive leap in quality infrastructure availability. However, Nigeria has not fully embraced PPP despite its enormous benefits. In fact, the Managing Director, Nigerian Sovereign Wealth Investment Authority (NSWIA), Mr. Uche Orji, told a public hearing organised by members of the House Committee on Works that the country requires $35billion yearly over the next six or seven years to bridge its massive infrastructure gap. But, the simple question is, where does the government alone get this kind of humungous amount from with the current parlous state of the economy? The answer is simple: through PPP.

However, despite the fact that the private sector in the country has consistently demonstrated its readiness to partner with the government to tackle its many infrastructure challenges, deliberate efforts have been made by government officials to frustrate such patriotic gestures. This much was confirmed at last year's Quarter Three Edition of Aviation Round Table (ART) by no other persons than the Minister of Information, Culture and Tourism, Alhaji Lai Muhammed and the Chairman, Resort Group, Dr. Wale Babalakin (SAN), who identified the major problems militating against private investment in Nigeria as inadequate education among government officials about the issues in PPP, lack of legal framework, inconsistent government policies and failure to honour agreements validly entered into, among others.

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