Buoyed by the impact of the Office of Public-Private Partnerships in closing the infrastructure gap in Lagos State across different sectors, stakeholders have suggested ways to further strengthen the PPP structure in the state with a view to delivering greater value, impact more people, and improving service delivery efficiency of the PPP Office.
The recommendations were contained in various presentations at an interactive session between the Office of PPP (OPPP) and members of the Lagos State House of Assembly House Committee on PPP, held over the weekend in Lagos.
It was suggested that ensuring value for money expended on PPP projects was the responsibility of the OPPP, House Committee, and the private equity investors while calling on all stakeholders in a PPP arrangement to understand the requirements of PPP including project financing from the beginning to the end.
‘‘The major role of the OPPP is to provide a global view of making decisions and quantifying guarantees; ensuring value for money expended on projects is the major responsibility of the OPPP, House Committee, and the private partner. The public sector should avoid over-influencing projects (subsidizing) and focus more on the value that the project will offer. Quantifying the cost of a PPP project cannot be easily estimated from inception; hence it is important for all stakeholders to be fully informed of the demands and dynamics of the project before delving into PPP,’’ they stated.
They also noted that dealing with macroeconomic issues will create a long-term effect on PPP projects, and recommended that risks registered on projects should be strictly considered including the advance determination of which party can best influence or take liability for the consequences of unforeseen risks.
The Special Adviser to the Governor on PPP, Mr. Ope George, while welcoming participants said the interactive session was organized to enable the PPP Office and the House Committee on PPP to discuss the mandate of the OPPP with a view to deepening synergy and promoting the cordial relationship.
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