PPP critical to providing adequate infrastructure, say Sanwo-Olu, others
Lagos State Governor, Mr. Babajide Sanwo-Olu; Secretary to the Government of the Federation (SGF), Boss Mustapha and the Special Adviser to the Governor on Public Private Partnership (PPP), Mr. Ope George, have said for the government to provide adequate infrastructure for its citizens, it must adopt PPP in executing projects.
Sanwo-Olu, who spoke, yesterday, at the third Nigeria PPP network conference, hosted by Lagos State government, said though Lagos State had witnessed significant and extensive mileage in PPP investment to address several developmental challenges, it still has a long way to go.
“I encourage the private sector to forge a much deeper and mutual collaboration with the government in ensuring the attainment of inclusive development and greater wealth generation, particularly in Lagos State and in Nigeria as a whole,” Sanwo-Olu said.
Mustapha said the 2021-2025 National Development Plan, which is to be funded by more than 85 per cent private funding, demonstrates the Federal Government’s commitment to creating an economy largely driven by the private sector through funding and implementation of infrastructure projects by using PPP in a more resilient and sustainable manner for better economic growth and development.
“In the light of the competing sectoral demand for the country’s limited resources worsened by the COVID-19 pandemic, government needs to explore other financing options. This has necessitated a greater focus on PPP that allows the private sector to finance infrastructure development with specified agreements on management of the infrastructure to recoup investment,” he stated.
George maintained that any government with a purpose to provide adequate infrastructure to her citizens should adopt all available PPP models.
“While we have gone a long way in the adoption and utilisation of PPP models, we are not resting on our oars. I strongly believe it is same story for all other states,” he said.
George added that many states are focusing on facilitating PPP projects, with Lagos State estimating that 70 per cent of its ongoing projects and planned projects will be in PPP format.