Go On With PPP Projects, FG tells MDAs
The Nigerian Government on Tuesday raise a formal objection on its key Ministries, Departments and Agencies involved in infrastructure provision to come up with bankable projects that would be implemented under the Public-Private Partnership arrangement.
The Permanent Secretary, Ministry of Budget and National Planning, Mrs. Fatimah Mede, gave the charge at a PPP capacity building programme organised by the ministry in collaboration with The Infrastructure Bank Plc.
Mede said the need for the MDAs to come up with bankable PPP projects was borne out of the conviction that the huge infrastructure challenge facing the country could not be addressed by budgetary allocations alone.
She said based on the National Integrated Infrastructure Masterplan, the county would need an investment of $166bn in the next five years to provide infrastructure.
She noted that out of this amount, 48 per cent, or about $79.68bn, was expected to be provided by the private sector, while the public sector would provide the balance.
The permanent secretary explained that while it was the duty of the government to provide adequate infrastructure, the dwindling revenues as well as other competing demands were making it difficult for the government to meet its obligations.
