Vice-President Namadi Sambo
The Federal Government has approved a National Policy on Public-Private Partnership (PPP) to complement the Infrastructure Concession Regulatory Commission (ICRC) Act of 2005.
The policy is aimed to provide legislative, regulatory and institutional framework for PPP to thrive.
Vice-President Namadi Sambo stated this Thursday while declaring open the fourth annual African Public-Private Partnership Conference in Abuja.
Speaking on behalf of President Goodluck Jonathan, Sambo said: “the Federal Government of Nigeria is firmly committed to the promotion of PPP as a viable business model’, pointing out that, ‘this administration’s Transformation Agenda places a high premium on public-private partnership for the rapid modernisation and expansion of our country’s infrastructure.”
“Our goal has been to work with the private sector to close the capital investment and financing gaps that continue to encumber our determined efforts to meet the growing infrastructure needs of our people”, he explained, adding that “we are creating an enabling environment for the operation of an efficient and effective private sector economy.”
A statement by Sambo’s Senior Special Assistant on Media and Publicity, Alhaji Sani Umar, said the VP commended the initiators of the event and expressed the desire that the conference will evolve into a platform for governments to address the continent’s infrastructure deficit and showcase her investment potentials to the outside world.
Earlier, the Minister of State Finance, Dr. Yerima Ngama, representing the Minister of Finance, Dr. Ngozi Okonjo-Iweala, explained that in Nigeria, statistics indicate that government’s contribution amounts to one-eight of the country’s Gross Domestic Product (GDP) while the private sector has 7/8th of the resources, though mostly informal.
Stating that most countries that developed depended on the private sector and not on government alone, he promised that together with the ICRC the current administration was committed to creating the enabling environment for the Public-Private Partnership to work.