Shonekan spoke in Lagos yesterday at the National Basic and Advanced PPP Capacity Building workshops organised by the Infrastructural Concession Regulatory Commission (ICRC) in Lagos.
Shonekan, who is the chairman, Governing Board of the Infrastructural Concession Regulatory Commission (ICRC), however, noted that Nigeria had not been able to harness the huge resources in the private sector to cover up the infrastructural deficit in the country because of lack of technical capacity.
“It is my prayer that we achieve a shared understanding of the fundamental principles of PPP project structuring and development towards up-scaling Nigeria’s infrastructure stock.
“Infrastructure, as we are all aware, is the backbone that drives national economic development; infrastructure drives efficiency with which goods and people are moved. Only by ensuring that this vital sector is developed and effectively managed can Nigeria rise to the great economic height and prosperity our people deserve. I expect you to champion infrastructure rebirth in Nigeria via PPP using tools and techniques you will learn from this event.
“It is an empirical fact that the technical capacity to develop and prepare bankable PPP projects is the key that will unlock private financing of infrastructure projects through PPPs in Nigeria.
“As you are aware, it is often said that the three key impediments to the rapid development of the PPP space in Nigeria is capacity, capacity and capacity for project development and preparation.”
Shonekan urged the participants to take full advantage of the well-experienced faculty and sound teaching approach adopted by the resource persons to learn to the fullest and ask questions freely to gain knowledge.
In his goodwill message, Director, Development Finance Department of the Central Bank of Nigeria, (CBN), Paul Eluhaiwe, said Nigeria’s infrastructure deficit and poor competitive stance in service delivery arising from the former, were retarding its pace towards the attainment of the Millennium Development Goals.
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