Author(s) :

EDEVIE, Prudence Sonvie, ABRAHAM, Royal Adaeze.

Volume/Issue :

Abstract :

Nigeria’s infrastructure needs are acute; to get goods to store, the country needs more ports, railways, and roads. It also needs more electricity for homes, schools, and businesses, as well as more water and toilets to keep people healthy and modern communications services for all her citizens. However, all this involves funding. Like governments across the globe, to improve the way its services are provided, Nigerian government partners with the private sector for investment, strong technical expertise and building effective leadership capabilities. The need for rapid infrastructural development has grown over the years in Nigeria, and just like other developing nations, infrastructure and economic growth go hand in hand. A country that wants a strong economy needs to keep up with its infrastructure and related services. As a result, the private sector involvement becomes pertinent, and public-private partnerships have become the way to build up the country's infrastructure. Public-private partnership became necessary as more subtle options to access private sector assets in the provision and management of public infrastructures. The study adopted the principal agent theory and data for this study was generated through secondary sources, i.e. texts, newspaper, journals and online sources. The study posits that public-private partnerships should be carefully planned and put into action in a regulatory environment that is fair to both parties. This way, PPPs can make the most of limited public funds and bring new technologies and ideas from the private sector into public services. In this way, efficiency and sustainability are achieved while risk is shared between public and private actors based on their management skills. The study recommends that public-private partnerships should be carefully planned and the regulatory environment should be conducive for parties involved to ensure sustainability. Keywords: Public-Private Partnership, Infrastructural Development, Nigeria

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