Vice-President Yemi Osinbajo says public-private partnership, (PPP) is key to addressing the country’s infrastructural deficit.
Osinbajo said this on Friday at the launch of World Bank and ICRC public-private partnership, (PPP) web portal which is dedicated to the disclosure of all the PPP contracts information in the country.
The vice-president, who was represented by Suleiman Hassan, minister for state power, works and housing, said Nigeria would be the first country to launch the PPP website disclosure portal.
“Under the World Bank project disclosure initiative, Nigeria would be the first country in the world to launch PPP website disclosure portal,” he said.
“This would allow the public easier access to key information on government business in line with transparency and accountability thrust of the Buhari administration.
“The private sector would play a critical role in providing the basic infrastructure under the PPP arrangement, partnering closely with the government. Leveraging private capital to ensure efficient delivery of infrastructure via PPP.
”If Nigeria must experience the best economic boost and play in global economic league, the government must create a needed framework that drives PPP venture, and the government is determined to do that.”
He added that the Infrastructure Concession Regulatory Commission (ICRC) had attracted N3.7 trillion capital for 51 ongoing projects across the country.
Also speaking, Chidi Izuwa, director-general of the l ICRC, said the portal would enable Nigerians hold government accountable in line with global practices.
“This initiative would disclose key information on the portal and every Nigerian could ask questions as a contract administrator in the projects and could hold government accountable in line with World Banks and global practices,” Izuwa said.
“There are standard templates in the portal which would be closely monitored by Nigerians. The Portal would disclose the key information so that everybody could follow from procurement, development and implementation of each step of every project.
“What we actually need is to attract bankable projects with the right kind of capital that we need.”
On his part, Laurence Carter, senior director, infrastructure, PPPs and guarantees, World Bank group, said the portal would ensure transparency and accountability in Bureau for Public Procurement (BPP) projects which would ensure that private sector responds to the financing gaps.