Public-Private Partnerships (PPPs) have become a key pillar of infrastructure development in Nigeria, both at the federal and state levels. At the 2nd Consultative Forum of PPP Units and the Nigerian Public-Private Partnership Network, a unanimous conclusion was reached that collaboration is key to bridging the infrastructure gap in the country.
The meeting, organized by the Infrastructure Concession Regulatory Commission (ICRC), highlighted the need for government agencies to work together to address the challenge of inadequate infrastructure. Governor Abdulrahman Abdulrazaq, Chairman of the Nigerian Governors’ Forum, emphasized the critical importance of this collaboration, highlighting an infrastructure gap of about $100 billion at the sub-national level.
It is clear that the public sector alone cannot meet these enormous financial needs. This is why a close alliance with the private sector is essential to achieve our common goals. It is essential to put in place effective mechanisms to attract the necessary private investments and build investor confidence in PPPs.
Current challenges, such as financing gaps, should not discourage collective efforts to foster the prosperity of PPPs. These partnerships offer a unique opportunity to mobilize the resources and expertise needed to improve the lives of Nigerians, by fostering economic growth, job creation and improving the quality of life.
The theme of this event, “Using PPPs to Deliver on the Agenda of Renewed Hope in Nigeria’s Infrastructure Delivery”, clearly illustrates the strategic importance of PPPs in achieving this ambitious goal. Infrastructure is the bedrock on which this agenda is built and PPPs represent a key enabler in mobilizing the resources needed to implement it.
Speakers, including ICRC Director General Dr Jobson Ewalefoh and Minister of Finance and Minister of Economic Cooperation Wale Edun, all stressed the need for enhanced public-private sector cooperation. Through strong partnerships and a transparent approach, Nigeria can address its $100 billion infrastructure gap, attracting $20 billion in private investment annually.
PPPs offer the potential to boost agricultural productivity, develop the energy, transport, health and education sectors, while fostering sustainable and inclusive economic growth. This collaborative framework aims to strengthen transparent policies, sound legal framework and synergy among stakeholders to foster an enabling environment for PPPs.
In conclusion, finding innovative solutions and implementing an integrated approach at national and sub-national levels is essential to address the challenge of inadequate infrastructure in Nigeria. PPPs are a powerful instrument to catalyse the economic and social development of the country, but this requires strong commitment and close collaboration from all stakeholders involved.