The Managing Director, The Infrastructure Bank, Mr. Adekunle Oyinloye, on Thursday called for more coordination of policies among different agencies of government in order to make Public-Private Partnerships bankable.
He said this in Abuja at the Public-Private Dialogue on Infrastructure Financing in Nigeria.
The dialogue was organised by the Ministry of Budget and National Planning in collaboration with the Nigeria Infrastructure Public Private Partnership Summit Group.
Oyinloye stated that many policies and agencies of government that handle PPP projects were not effectively coordinated, thereby giving room for investors to back out at the slightest frustration.
According to him, agencies in charge of PPP as well as PPP policies should be streamlined to give the nation a focus on what is being done at every point in time.
This, he noted, would enable investors to know what to do with their investments.
The Permanent Secretary, Ministry of Budget and National Planning, Aliboh Lawrence, said the government was working hard to address the infrastructure challenges through both public and private sector funding.
He said the Federal Government expects about $80bn through the National Integrated Infrastructure Master Plan as direct private investment in infrastructure between 2014 and 2018.
Lawrence, who was represented by the Director of Infrastructure in the ministry, Mr. Nurudeen Lawal, stated, “Government is also expected to leverage up to $25bn for infrastructure through public-private partnerships during the same period.
“Achieving these investment targets will require properly designed and well-managed private sector engagement.”
The Chairman, NIPPPSG, Mr. Abubakar Mahmoud, said the group recognised the need to engage the private sector in infrastructure delivery in Nigeria.
Mahmoud said the dialogue was organised to identify efficient ways for the public and private sectors to work together to deliver infrastructure to Nigerians.
He explained that the meeting would also identify and address the political, legal and institutional barriers to creating bankable infrastructure projects.
This, he noted, would assist in channelling private sector finance and expertise towards successful development and delivery of PPP projects in transparent and accountable manners.