Africa

Public-Private Partnership as a Policy Strategy of Infrastructure Financing in Nigeria

Abstract: 
For much of Nigeria’s post colonial history, the state has been the dominant provider of infrastructure finance. The capacity of the Nigerian state for exclusive funding of infrastructure was, however, seriously challenged in the early 1980s when Nigerian economy was hit with a severe crisis culminating in the adoption of the IMF and World Bank-inspired Structural Adjustment Program (SAP). Under the SAP regime, the state was required to disengage from social delivery, including infrastructure provisioning. Within the context of the current global economic recession, the declining revenue base of the Nigerian state has made sourcing for alternative means of funding infrastructure inevitable. PPP represents one sure way of overcoming the challenges posed by the global financial crisis. This paper interrogates the phenomenon of PPP in Nigeria. It contends that while the initiative has high prospects, attaining its promises is contingent on the availability of certain success factors.
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