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Jide Oke, Secretary, Marketing and Corporate Affairs, Nigeria Institute of Quantity Surveyors (NIQS), has identified policy inconsistency as a hindrance to the success of Public/Private Partnership (PPP) schemes in Nigeria.
Oke said that PPP schemes would be more effective with economic stability and regularity in government directives, in Lagos on Wednesday.
He claimed that successive administrations scarcely completed set projects before their tenures elapsed. “As such, the projects are usually abandoned for new ones by the successors,’’ he said.
According to him, government should complete projects and execute policies started by their predecessors before embarking on new ones so that PPP would record significant progress.
Oke added that government should respect contractual agreements with private firms to enable successful PPP schemes.
He said that government should build confidence among investors, respect contractual agreements with private firms and provide special incentives to encourage private investments.
“Private individuals and firms are not charity organisations. Most times, they borrow money to execute projects and need to pay back.
“Once private firms/individuals notice that the government does not keep to its promise in PPP projects, they will not be willing to partner again,” he said.
Oke advised that PPP should not be politicised to avoid jeopardising it.
He called for the right policies, legislation and regulatory framework that would guarantee stable macroeconomic environment for the success of PPP schemes.
“If government will put in place policies and legislation to guarantee investors’ confidence – assuring them that there will not be challenges with their profits/dividends, there will be respect for contractual agreements and that the macroeconomic environment will be stable – PPP schemes will thrive,” he said.
Oke urged the Federal Government to focus on expanding the country’s investment, industrial and manufacturing base.
