EXAMINING PUBLIC PRIVATE PARTNERSHIP IN NIGERIA: POTENTIALS AND CHALLENGES

EXAMINING PUBLIC PRIVATE PARTNERSHIP IN NIGERIA: POTENTIALS AND CHALLENGES
ABSTRACT

Public Private Partnership has been said to be a long term agreement between a government agency and a private partner for the delivery of goods or services with both party sharing in the risks and rewards inherent in the delivery of the goods or service which include financial risks and responsibilities. Public Private Partnership is an answer to the high demand for infrastructure which is at an all time high which is not being currently met by traditional contracting methods. Private companies in conjunction with the Public sector or one of its branches have therefore introduced this solution which provide a more integrated financial design construction, maintenance and operational solution to infrastructure projects. This long essay shall therefore examine in its chapter one introduction of Public Private Partnership in Nigeria, aims and objectives of the study, scope of study, methodology, definition and literature review, this chapter will be the basis for other chapters. Chapter two will highlight the origin of public private partnership, it will also look at the importance and nature of public private partnership i.e. the meaning and significance of PPP. This chapter will include the types of PPP and how they operate Chapter three will deal with the advantages of PPP, how it improves and helps in the growth of infrastructure, the opportunities which are opened by PPP, this chapter will be examining the benefits of PPP and why PPP is a better choice. Chapter four will appraise the problems which can be encountered during PPP operation e.g. problem of fund, cultural problems e.t.c. Chapter five will deal with the conclusion, summary and recommend some needed law reforms that will ensure the achievement of Public Private Partnership objectives in Nigeria.

CHAPTER ONE

GENERAL INTRODUCTION

1.0.0: INTRODUCTION

Public Private Partnership is a contractual arrangement which is formed between public and private sector partners which involve the private sector in the development, financing, ownership, and or operation of a public facility or service. In such a partnership, public and private resources are pooled and responsibilities divided so that the partners‟ efforts are complementary. The private sector partner usually makes a substantial cash or equity investment in the project and the public sector gains access to new revenue or service delivery capacity,1 and this arrangement between the public and private sector differ from service contracting2.

Public-Private partnerships relate to perceptions and practices affecting public private sector relationships in ensuring national/global health, development and well-being of the society, and the conceptual aspects of such relationships, including the role of the key players in collaborating to make these partnerships successful or otherwise. Though no single, universally accepted definition for public-private partnerships, PPP are often termed to mean different things to different people, which can make assessing and comparing international experience in such partnerships difficult. In general, PPP refers to form of cooperation between public authorities and the private sector to finance, construct, renovate, manage, operate or maintain an infrastructure or service. At their core, all PPP involve some form of risk sharing between the public and private sector to provide the infrastructure or service. The allocation of sizable and, at times significant, elements of risk to the private partner is essential in distinguishing a PPP from the more traditional public sector model of public service delivery. There are two basic forms of PPP: contractual and institutional. Although institutional PPP have been quite successful in some circumstances, particularly in countries with well-developed institutional and regulatory capacities, contractual PPP are significantly more common, especially in developing economies.

Although there is no universal consensus about the definition of public-private partnerships, the following elements typically characterize a PPP: The infrastructure or service is funded, in whole or in part, by the private partner. Risks are distributed between the public partner and private partner and are allocated to the party best positioned to manage each individual risk. PPP are complex structures, involving multiple parties and relatively high transaction costs. PPP is a procurement tool where the focus is payment for the successful delivery of services (the performance risk is transferred to the private partner).

EXAMINING PUBLIC PRIVATE PARTNERSHIP IN NIGERIA: POTENTIALS AND CHALLENGES

Chapters: 1 - 5
Delivery: Email

Number of Pages: 80

Price: 3000 NGN

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