Analysis of Public Private Partnership as a Catalyst for Development: The Nigerian Experience

Abstract

Public-Private partnership is one of the contemporary universal strategies considered and adopted as a veritable method of accomplishing tasks and development efforts in developed and developing states like Nigeria. It becomes a reality that national and sub-national governments in Nigeria grapples with development challenges due to the enormity of such challenges, paucity of funds, and technical expertise, and other aspects. Thus, the overall objective of this paper is to bring to the fore how critical to a nation’s development is the idea of partnering with willing and capable private organisations in addressing a lot of development needs in the country. New Public Management Theory gives this paper a theoretical guide being the fact as the theory advocates the introduction of market-driven principles and business-like practices obtainable in the private realm, into the public sector. A descriptive approach is the method adopted for this study; thus, content analysis was employed, and secondary data were used in the analysis of the topic in question. The paper reveals that there are numerous benefits and prospects of PPP, including
Improvement on cost effectiveness, by leveraging on private sector innovation, experience, and flexibility. By way of prospect, the strategy can serve as catalyst for the actualization of the 2030 agenda, agenda 2050 as adopted by Nigeria. The paper recommended that infrastructural facilities must be available, widespread spread and efficient for Nigeria to actualize its developmental agenda, while leveraging on the PPP strategy.