Assessment of the Legal and Institutional Framework for the Management of Fiscal Liabilities Arising from Public-Private Partnerships (PPPs) in Nigeria
Research Fellow, African Procurement Law Unit, Department of Mercantile Law, Stellenbosch University. South Africa and Honorary Senior Research Associate, The Bartlett School of Construction & Project Management, University College London, London, United Kingdom.https://doi.org/10.47191/jefms/v4-i8-08
The procurement of infrastructure projects through the use of PPPs has a number of advantages including the potential of reducing life cycle costs, better project risks management and improved service delivery to mention a few. However, PPPs inevitably give rise to liabilities whether explicit or contingent. These liabilities where not properly managed may have adverse economic consequences for countries. This paper finds that whilst Nigeria has appropriate legal and institutional structures for managing fiscal liabilities generally, such structures are not designed or appropriate to deal with fiscal liabilities arising from PPPs. The paper makes suggestions on how this shortcoming may be addressed.
Fiscal Liabilities; Public-Private Partnerships; Nigeria; Risk Management; Infrastructure
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