Abstract

The participation of the private sector in the provision of infrastructure is now a fundamental element of discourse around state modernization especially in the face of fiscal crisis. This paper examines the dialogue against the backdrop of the impression that the concept is new as a tool of fiscal management as well as its adoption in the emerging economies using Nigeria as a reference point. The study traced the evolution, theoretical foundation and history of public private partnership in Nigeria. Our findings reveal that though the adoption of PPP has been positive, it has some challenges, which are as a result of contract term agreement, political influence and the need for renegotiation as a result of increasing cost and those conditions are not envisaged at the time of contracting.

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