Nigeria: BPE Boss Seeks Increased PPP in Maritime Sector

The federal government has called for more private sector partnership to attract the needed investment to drive the maritime sector and boost the economy.

Director-General, Bureau of Public Enterprise (BPE), Mr. Alex Okoh, stated this during a webinar session monitored in Lagos.

The BPE boss reiterated the need for an increase in the private sector involvement in the financing critical infrastructural development in the maritime sector in order for the industry to become a major revenue earner for the federal government.

The webinar session tagged, “Public Private Partnership as alternative financing model in the maritime sector,” was hosted by the Nigeria-South Africa Chamber of Commerce and sponsored by SIFAX Group.

He cited the success of the port concession as a justification for more private sector funding stressing that investors have more to gain by investing in the country.

The BPE boss also revealed that the federal government’s revenue from the sector had more than doubled 10 years post-concession.

Okoh, further posited that competing needs for government’s lean resources has also made Public Private Partnership (PPP) a welcome option.

The BPE DG further revealed the federal government has simplified the PPP process, which now allows for private sector players to scout for projects that can be financed through PPP model.

According to the BPA boss, “The BPE has been entrusted with a significant part of the PPP responsibilities in Nigeria through the federal government’s circular of September 2020.