PPPs 'key to Nigerian infrastructure development'
20 January 2010
The director-general of the Infrastructure Concession Regulatory Commission (ICRC) Mansur Ahmed has said active participation in the public private partnership (PPP) model is the only way to reach its 2020 targets.
He was quoted by the Nigerian Guardian as saying: "Public sector financing and capacity for project delivery is grossly inadequate, hence the urgent need to explore the domestic capital market as well as offshore financial flows."
Mr Ahmed's comments came on the heels of an announcement that the country is to enter into a partnership with Brazil, which will offer technical and capacity-building assistance.
Ambassador Ana Perez said the PPP focus was similar to Brazil's development story, adding that the two nations share cultural and historical ties and so will make a good pairing.
She recommended the ICRC address urgently the relative ignorance pertaining to the Nigerian market so as to open itself up to private investments.
Earlier this week, the government dictated that all PPP proposals relating to infrastructure could only go through if approved by the ICRC.