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Akerele, D and Gidado, K (2003) The risks and constraints in the implementation of PFI/PPP in Nigeria. In: Greenwood, D J (Ed.), Proceedings 19th Annual ARCOM Conference, 3-5 September 2003, Brighton, UK. Association of Researchers in Construction Management, Vol. 1, 379–91.
- Type: Conference Proceedings
- Keywords: PFI; PPP; procurement; risk management
- ISBN/ISSN: 0 9534161 8 6
- URL: http://www.arcom.ac.uk/-docs/proceedings/ar2003-379-391_Akerele_and_Gidado.pdf
Poverty, corruption, debt, lack of infrastructure and demand for industrial development are today the main issues affecting the progress of most developing nations around the world. These are exacerbated by lack of funding within such economies and the spiral corruption in government funded projects coupled with the lack of managerial and technical expertise. However, with the tide of democracy and economic liberalization in a globalized economy, private foreign direct investment (FDI) in such economies seems to be on the increase. The procurement systems currently used for such opportunities are the Public Private Partnerships (PPP) and Private Finance Initiatives (PFI). This paper describes a part of a global research that is aimed at developing an implementation model for Private Finance Initiative (PFI) and Private-Public Partnership (PPP) in developing countries. The part that the paper focuses on is to identify the constraints and risks in the implementation of PFI/PPP in the Nigeria. Nigeria was chosen, among other key issues, because of its population growth, democratization, policy on economic liberalization and privatization, policy on industrialization, and most importantly the government has recognized its continuous failure to effectively and efficiently provide government funded basic services. The work described in the paper is based upon data and information collected from literature, questionnaire survey, and semi/structured interviews. These enabled statistical analysis and conclusions to be reached and further research recommendations to be made. The paper has identified key constraints and risks associated with PFI/PPP in the Nigerian set up and established a ranking of their importance and severity of effect. This provides a base upon which to develop a model for implementing the two systems in similar environments.