An Evaluation of the Legal and Regulatory Framework for Public-Private Partnership (PPP) in Nigeria

Abstract

The privatisation of its industries and utilities started in Britain in the early 1980s and since then the private sector became involved in the ownership, operation and management of public assets and the provision of infrastructure services. The era of government providing singlehandedly providing infrastructural development and facilities are long gone. Government all over the world in this present dispensation cooperate with private sectors in the provision and management of various infrastructural facilities in their respective countries. Privatisation and economic liberalization became a standard policy prescription by international development institutions for most developing economies. The most common form of private investment in infrastructures has been the Public-Private Partnership (PPP). The success or otherwise of PPP in delivering infrastructure in developing societies such as Nigeria has, however, been a vexed issue. Since 1998, Nigeria has enacted a number of laws to regulate private investment in infrastructure development. One reason why policymakers opt for PPP include the need for the government to tap from private sector skill and expertise, the necessity for the public sector to concentrate on policymaking as well as the urgency to meet the increase in demand for infrastructure An examination of the legal and institutional framework for private sector investment in infrastructure assets and services and its prospects for Nigeria and other developing countries would be undertaken in this paper.

Keywords: public-private partnership, infrastructural development, Nigeria

DOI: 10.7176/JLPG/118-05

Publication date: February 28^th 2022