THE GAMUT OF NIGERIA’S LEGAL FRAMEWORK ON PUBLIC PRIVATE PARTNERSHIP (PPP)
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Abstract
The paper identifies legislation, regulations and National plans applicable to the conceptualization, procurement and implementation of PPP projects in Nigeria. Many times, PPPs are prepared and implemented without due regard to salient legal requirements that touch on the validity, efficiency and effectiveness of private sector participation in public infrastructure. The National Policy, which guides the implementation of PPP in Nigeria, did not comprehensively identify all legal instruments and National plans impacting, one way or the other, on PPPs. The paper therefore conceptually reviews Nigerian laws and Executive decisions to discover three categories of legislation, namely, laws that enable PPP practice; laws that incentivize its participation; and sector specific laws that were used to consummate some of Nigeria’s notable PPP projects. It also looked at extant National policy and plans that impact on Nigeria’s PPPs. The identification of legislation and National policy and plans are important for the opportunity it gives stakeholders, including the academia, policy makers and prospective investors, to appreciate the scope and limitations of PPP practice in Nigeria. It also affords key players to mitigate project risks by standardizing, harmonizing and ensuring strict application of extant legal framework to any PPP project. It needs to be stated clearly that this paper did not appraise the performance or adequacy of any legal instruments, policy or plan. Hence, there could be a need for further studies on the success or otherwise of the legal framework. Notwithstanding, it is hoped that the overview of legal instruments, policy and plans herein could boost confidence in contracting parties to deliver successful and bankable PPP projects that rise above political and financial risks.
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