Public-Private Partnerships and Sustainable Development in Nigeria
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Date
2012-01-10
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Grosvenor House Publishing Ltd, United Kingdom
Abstract
In most of African countries, the provisions and supply of infrastructural facilities, and the procurement of other public utilities were, until recently, absolutely under the control of the governments. However, due to corruption and wastages in the way and manner public procurements were made and executed, coupled with the lackadaisical attitudes of government officials, and most importantly, with the realisation of the skills and competencies of the private sectors in building infrastructure, governments all over the world began to divest themselves of their monopoly in the field of infrastructural supplies. This led to a resourceful and efficient partnership between the public and private sectors, and this partnership has now come to be known as the Public-Private-Partnership (PPP) . This article seeks to examine the meaning, the ambits, as well as the practical operation of the PPPs. The work has a bias for dispute resolution in PPP using the various ADR mechanisms with a particular emphasis on arbitration. Although, the focus of this article is on resolution of PPP disputes, it also briefly describes the arbitration landscape in South Africa as well as in Asia. The article concludes that since disputes are inevitable in any business transaction, and since practitioners in PPPs are usually sponsored by banks and other financial institutions, there is an urgent need to devise a faster way of dispute resolution aside from litigation so as to ensure that shareholders’ funds are not unnecessarily tied down.
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Keywords
Public-Private PPartnerships; Sustainable Development; Nigeria