A Chattered Accountant and Bursar, Federal University of Petroleum Resources, Effurun, Delta State, Mr Sam Inengite, has stated that Nigeria cannot achieve infrastructural development without a strong Public Private Partnership (PPP)
Inengite made this known in Abuja while launching his book ‘Building Sustainable Public Private Partnerships”.
“This book addresses the knowledge and infrastructural gap and it is the first broad-based book on PPP in this part of the world as it addresses all aspects be it Economic, Accounting, Environmental, Legal, Finance, Leadership, Government and all, so, for a successful PPP project, there must be strong input from the public and private sector, research and data analysis of the academia”
Inengite stressed that the highly dilapidated Nigerian roads, housing and power deficit are typical examples of why PPP is imperative in the country.
“There is infrastructural deficit and gap but the government does not have enough resources to fill this gap and that is where the issue of Public Private Partnership comes in”.
“The private sector has the resources to assist the public sector in bridging this gap because some countries that are well developed did not do it by themselves, the government partnered with the private sector to achieve it.” He said
“My book addresses the origins of PPP, key participants and stages of selecting and its implementation, common PPP financing models and processes, ways of attracting Local and Foreign Direct Investments, the benefits and opportunities, the Risks and Mitigation techniques and the Legal and Regulatory Environment.
“The book also captures the critical success factors for PPP which are; Project Viability, Human Capital, Compliance, Process, Macro Economic and Security”.
Inengite noted that “For a successful PPP, new government must retain Contracts and Agreements of previous governments or administrations. There should be a master plan of Infrastructural development and renewal, there is a need for specialized laws that guide PPP transactions”.
“The ease of doing business should be promoted, the capacity of public sector operators should be improved, Security challenges to reduce the Political or Country Risk should be addressed, Buy-In of critical Stakeholders and Investors are needed, capacity, competence and character of the investor should be properly checked, financial closure before Project commences must be ensured and knowledgeable and skillful transaction advisors and financial consultants must be engaged engaged”. he added
