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PUBLIC-PRIVATE PARTNERSHIP MODEL FOR PROPELLING INFRASTRUCTURAL DEVELOPMENT IN NIGERIA: A REVIEW
Abstract
The study reviewed the concept of Public-Private Partnerships (PPP) model for propelling infrastructural development in Nigeria; it assessed the effectiveness of Public-Private Partnership as well as suggested some measures that could assist the programme to achieve optimal success in Nigeria. The study relied solely on the review of available literature sourced online. Regarding infrastructure, there is some evidence of PPP leading to efficiency gains. The evidence is stronger when looking at labour productivity, a finding related to the fact that most transitions to private participation have entailed significant labour downsizing. On the other hand, there is mixed support for private participation leading to improvements in total factor productivity or quality. Overall, there is also no clear-cut conclusion regarding how PPP have affected coverage and affordability. Indeed, most of the available studies are plagued by selection issues, one of the main methodological challenges in the evaluation of infrastructure, Public-Private Partnerships financing is the area where more work is still due. Appropriate legislation for implementing PPP must be in place, while two further important elements are economic circumstances and proper project execution. However, in view of this work background, neo-liberalism theory was adopted. Keywords: Partnership, Government, Public goods, Finance, Infrastructure