Public Private Partnerships in Nigeria PDF
Preview Public Private Partnerships in Nigeria
PUBLIC PRIVATE PARTNERSHIPS IN NIGERIA Managing Risks & Identifying Opportunities George Nwangwu Public Private Partnerships in Nigeria George Nwangwu Public Private Partnerships in Nigeria Managing Risks and Identifying Opportunities George Nwangwu Ministry of Finance Abuja, Nigeria ISBN 978-1-137-54241-0 ISBN 978-1-137-54242-7 (eBook) DOI 10.1057/978-1-137-54242-7 Library of Congress Control Number: 2016939628 © Th e Editor(s) (if applicable) and Th e Author(s) 2016 Th e author has asserted their right to be identifi ed as the author of this work in accordance with the Copyright, Design and Patents Act 1988. Th is work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifi cally the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfi lms or in any other physical way, and trans- mission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. Th e use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specifi c statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. Th e publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Cover illustration: Cover design by Samantha Johnson Printed on acid-free paper Th is Palgrave Macmillan imprint is published by Springer Nature Th e registered company is Macmillan Publishers Ltd. London To the memory of my father, who died while I was working on this book Prefa ce Th e paucity of funds and the failure of public authorities to provide even the most basic of public services led to Nigeria (similar to most countries in the world) turning to public private partnerships (PPPs) to fi nance, develop and improve its infrastructure. A number of projects in diff er- ent sectors of the Nigerian economy have been completed using the PPP model. A few of these projects have since become operational, and this provides an opportunity for this book to take stock of the legal, institu- tional and policy frameworks for PPPs in Nigeria. Th is book focuses on the legal, economic and general policy prin- ciples underpinning the concept of PPPs and is intended both as a detailed resource book for practitioners who work in PPPs across the globe and as a useful introduction to the basic principles for those new to the subject area. It will also be useful for those investors who might wish to know about the immense opportunities avail- able in infrastructure projects in Nigeria and enable them to navigate through some of the pitfalls in long- term infrastructure projects. It is also addressed to meet the needs of public sector offi cers who might benefi t from understanding the reasons for the shortcomings in PPP vii viii Preface projects and how they might tailor policies and regulations towards overcoming these. Finally, it is worth mentioning that this book is a product of my expe- rience from nearly twenty years of practice as a lawyer both in Nigeria and in the UK. I have worked actively in PPPs for the majority of these years advising people in both the private and public sectors in deals across diff erent sectors of the economy. George Nwangwu List of Abbreviations ADB Asian Development Bank ADR alternative dispute resolution (Nigeria) BCL Bi-Courtney Limited BOT Build-Operate-Transfer BLT build lease transfer BLTM build lease transfer maintain BOO build own operate BOOR build own operate remove BOOT build own operate and transfer BOT build operate and transfer BPE Bureau of Public Enterprises BPP Bureau of Public Procurement BTO build transfer operate CERPAC Combined Expatriate Residence and Alien’s Card CITA Companies Income Tax Act CSF critical success factor CSR corporate social responsibility DBFO design build fi nance operate DBFOM design, build, fi nance, operate, Manage DCF discounted cash fl ow DCMF design, construct, manage, and fi nance DMO Debt Management Offi ce (Nigeria) ECA export credit agency ix
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