9th December, 2021
The Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu has called on the private sector to forge a much deeper and mutual collaboration with the government.
Sanwo-Olu called for the collaboration in ensuring the attainment of inclusive development and greater wealth generation, particularly in Lagos State, and in Nigeria as a whole.
Sanwo-Olu made the call while delivering the keynote address at the third Nigeria Public-Private Partnership Network Conference (NPPPNC) organised by the Lagos State Public Private Partnership Office, at Bon Hotels, Ikeja GRA, Lagos on Wednesday 8th December 2021.
The conference was themed, “The Role of PPP in the 2021-2025 National Development Plan”.
According to the governor, the conference is apt given that it is coming after the new National Development Plan (2021 – 2025) was approved by President Muhammadu Buhari, to succeed the Economic and Recovery Growth Plan [ERGP] and also considering the economic challenges being faced by Nigeria presently.
He said the newly approved National Development Plan (2021 -2025) seats essentially on six strategic pillars, which are; economic growth and development, infrastructure, public administration, human capital development, social development and regional development.
According to him, strategic openness and reception to private sector capital investment is a tool for advancing infrastructural development “Nigeria’s infrastructure gap is estimated at about $3 Trillion, which is about six times the size of our annual national GDP.
“The National Development Plan (2021 – 2025) is thus a major imperative to unlocking quantum private sector collaboration and partnerships for us to travel the distance of socio-economic advancement in a quicker and more inclusive fashion.
“The National Development Plan projects an ambitious investment size of N348.7Trn over a five-year period, out of which the Private Sector is expected to contribute 85.7% while the Federal Government, State Governments and Local Governments shall contribute 14.3% cumulatively.
The Governor said Lagos State Government has increasingly become the PPP Eco – chamber of Nigeria, being home to over 2000 financial institutions, Nigeria’s largest Ports, hosting 65% of Nigeria’s commercial activities and being West Africa’s Maritime and Aviation Hub.
He said Lagos State is ready and open to private investment, innovation and partnerships.
“Our administration has embarked on groundbreaking PPP Projects including the 38 Kilometer long 4th Mainland Bridge which is now at the final RFP stage and expected to be the longest bridge in Africa.
“A world Class 5,000 Trailer Park to manage the existential challenges of being Nigeria’s Haulage Hub, Major investments in the development of new maritime channels for commercial operation of modern water transportation, housing, investments in traffic intelligence and physical road signals, Institutional investments in Radiology and Laboratory/testing equipment across our health institutions – all using the PPP Framework as an effective tool.
“We as a State have witnessed significant and extensive mileage in PPP investment to address several developmental challenges confronting the State, but we still have a long way to go.
“The Lagos State PPP Office is designed to facilitate, incentivize and create best-fitted structures for injection of Private Capital into Lagos State.
“It is our hope that the Offices of the Honorable Minister of Finance and Mr. Atedo Peterside, being (Chairman and Co-Chair) for implementing the National Development Plan [2021 – 2025] shall consider the special status of Lagos as the largest market in Sub Saharan Africa; in their implementation structures,” he said.
The Special Adviser to the Governor on Public-Private Partnerships, Mr Ope George, said any Government that has purposed to provide adequate infrastructure to her citizens has to adopt all available PPP models, noting that Lagos State is the trailblazer in the adoption of PPP for infrastructural development.
He said Nigeria is open to public-private partnering in fields including leasing, franchising, concessions, equity and joint venture participation, noting that many states are focusing on facilitating PPP projects, with Lagos State estimating that 70% of its ongoing projects and planned projects will be in PPP format.
According to him, the PPP initiative in all cases is aimed at increasing private investment into the PPP infrastructure market and the core infrastructure sectors.
“Most of our projects encompasses capacity–building for Ministries, departments and agencies, and technical support for project preparation and advisory services to develop commercially viable PPP transactions. We have gone a long way in the adoption and utilization of PPP models, but we are not resting on our oars,” he said.