The recommendations of the experts and speakers were
contained in various presentations at an interactive session between the Office
of PPP (OPPP) and members of the Lagos State House of Assembly’s Committee on
PPP, which was held yesterday 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, and called 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.
“The public sector should avoid over-influencing projects
(subsidizing) and focus more on the value that the project will offer. 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.
The stakeholders also advocated amendment of the Lagos State
Public Private Partnerships Law, 2011, citing certain gaps in the legislation.
‘‘It is recommended that the law is amended to provide for
the nature of support that may be provided by procuring entities and to remove
the restriction on the ability to provide guarantees for PPP projects.