Public Private Partnership and Public Project Financing in Post COVID-19 Pandemic in Nigeria

Abstract

Globally, the country's level of social and economic infrastructure constitutes the backbone of the national economy. Traditionally, public sectors have been responsible for the provision of public goods and services. However, prior to the advent of COVID-19 pandemic ravaging the entire world economy, project financing posed a number of challenges to most governments in the developing world. Presently, the Nigeria experience is critical and appalling. This study investigated the impact of public private partnership adoptions in public project financing in Lagos State using the Bus Rapid Transport (BRT), as a premise. The study adopted survey research design and data obtained by means of a well-structured questionnaire. A total of 500 questionnaire were administered to both commuters of BRT and the general public and 371 copies were satisfactorily completed. The data were analysed and validated using descriptive and inferential statistics. The study found that there is significant awareness about public private partnership in project financing in Lagos State and that the BRT scheme is a joint effort between Lagos State Government and the National Union of Road Transport Workers (NURTW). The outcome of the survey however reveals that most government businesses are still shrouded in secrecy as a result of lack of accountability. It is recommended that Nigeria as a whole should make further improvement on the system in order to increase the benefit accruable from public private partnership in other areas not yet utilized.