The Secretary to the government of the federation, Boss Mustapha, has said the federal government is willing to partner with the Private Sector in bridging Nigeria’s infrastructure gap in order.
Mustapha gave the assurance in his address at the Africa Public Private Partnership Network Summit Monday in Abuja.
The APPPN summit is a network of PPP units and practitioners across the continent established out of a greater realisation and consensus of the need for collaboration between Africa PPP units for the achievement of Africa’s infrastructure development.
The SGF noted that the ever growing funds constraints fueled by the global COVID-19 pandemic have made this shift to PPPs more compelling than ever before.
According to him, the government will continue to maintain integrity and transparency that must form the basis of all decisions on PPPs to ensure the right framework for effective partnership and value for money.
He pointed out that with Nigeria and South Africa reaping the benefits of PPP arrangement, there was greater need for private sector participation in infrastructure development and structural transformation of the continent.
“Many African countries have made significant moves to promote this, through restructuring of financial sectors and adoption of policies to create the enabling environment for the private sector to grow and thrive,” he said.
In his welcome address, Acting Director General Infrastructure Concession Regulatory Commission (ICRC) Michael Ohiani, said a strong Public Private Partnerships (PPPs) framework will ensure infrastructural development in Nigeria.
It is estimated that Nigeria needs over $850 billion to bridge its huge infrastructure fund.
While reeling out some of its achievement, the ICRC DG said private participation in infrastructure is an economic necessity, rather than an optional financing solution, as hitherto considered.
According to him, partnership between the public and private sectors for the financing, design, build, maintenance of infrastructure and delivery of associated services is absolutely necessary for Africa governments to meet the need for modern and efficient infrastructure, and for reliable cost-effective delivery of public services.
“Distinguished ladies and gentlemen, Governments all over the world, including the Africa continent, have come to recognize that the collaboration between public and private sectors is crucial to securing dependable and sustainable funding for infrastructure and reducing the pressure on fiscal budgets,” he said.
