Public-Private partnerships (PPP) are contractual arrangements between public sector bodies and private sector parties resulting in the private sector delivering and operating public infrastructure facilities over an agreed price and period of time. The key to any successful PPP project includes the principles of risk sharing, value of money, consistency, transparency, accountability and a competitive process. Whilst consistency ensures that the PPP design, transaction and implementation process is consistent with government policies and objectives as well as with PPP standards and principles, transparency and accountability implies that there is both a transparent PPP transaction process as well as a clear definition of the roles and responsibilities of the public sector and the private sector parties.
Arising from the Federal and State governments' drive to actively involve the private sector in infrastructure development, the need clearly exists to equip the operators of such projects with the requisite knowledge and skills necessary for successful implementation. PPPs have traditionally
recorded very low success in Nigeria and the trend, if not reversed, may result in reduced investment of private sector funds in critical infrastructure.
- Preliminary assessment
- Project specification and PPP model selection
- Transaction strategy and design
- Tendering and bidding process
- Technical and economic analysis
- Financial appraisal
- Risk assessment and financing structures
- Analysis of the legal and regulatory framework
Top-level managers with responsibilities for formulating or reviewing PPPs. Chairmen, directors, commissioners and managers of public parastatals currently involved or intending to engage in
PPPs as well as chairmen, directors and managers of private companies who are intending or are currently engaged in PPPs.