By Cyril Onoka
A Financial Expert, and Publisher of the soon to be realise book " Sustaining Public private partnership in Nigeria" , Mr Sam Inengite, has said that Public Private Partnerships (PPP) was critical in addressing infrastructural deficit and challenge of poor maintenance culture bedevilling the country.
The Financial guru stated this during a press briefing with News men in Abuja in preparation for the formal launch of the book on Dec. 13, 2018.
Inengite, who said that Nigeria was yet to fully embrace PPP, advised government at all levels and other stakeholders to consider it as option for addressing infrastructural development challenges.
“We have massive infrastructure deficit in this country, from road to power, water and others. If PPP is fully embraced, we will address our infrastructure deficit.
” It will ensure that there is transparency and due process in terms of job done. It will also help to promote ease of doing business and maintenance culture for public infrastructure.
“Basically, if you look at our public infrastructure, they look fantastic within the first two or few years that they are built, but give it more years you will see major dilapidation and decay.’’
He identified some of the challenges confronting PPP in the country to include, multiplicity of laws and lack of respect for contracts and agreements.
“If a country has a track record of liquidation of contracts and agreements, it is disincentive to investors.
“Another major problem why PPP has not been fully embraced is that there is a major knowledge gap on the rudiment of PPP in the public sector.’’
He said that the book addressed every aspect of PPP, including the legal, account, finance, environmental and leadership.
Inengite said thatt the books has 10 chapters include key participants in PPP transactions, stages of selecting and implementing PPP projects, attracting local and foreign investment for PDP.
Others according to him include; the benefits and opportunity in PPP transactions, the risks and mitigations in PDP projects, PPP and environmental impact assessment as well as the success factors in PDP.
Inengite said that the book also cover six success factors for PPP, which include project visibility, human capacity development, compliance, due diligence, market driven and security factor.
He added that the issue of research, training and human capacity development, involving host community, conduct competence search on investors, security, political will and due diligent were also critical to success PPP.
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