PPPs are now a key developmental tool in major public works projects.
Nigeria, like all emerging economies, is currently facing several challenges including:
- A growing population
- The need to diversify its economy from one that is predominantly dependent on oil & gas revenues
- Emerging sectors such as agriculture, solid minerals and technology
- Required improvements in education, health care and public infrastructure
Traditionally, the Nigerian government has taken on the financings of critical projects, such as building roads, bridges and ports. But as economic pressures such as swings in the exchange rate; fluctuations in oil prices and liquidity limitations deplete fiscal budgets, the private sector has stepped in to create financing solutions to provide the necessary capital required to modernise and develop the country’s infrastructure. Public-Private Partnerships (PPP) are now a significant key developmental tool in acquiring major public works projects, and project finance is the primary method of achieving funding for these capital projects.
Our award-winning project finance lawyers and PPP legal experts have proudly served at the forefront of numerous landmark project finance transactions and infrastructure projects over the years. Highlights include the Lekki-Epe Toll Road Concessioning Project, Nnamdi Azikiwe Airport Concessioning, Indorama Fertilizer and Methanol Plant, Cross River State/IFC PPP Hospital, Hotel, Conference Centre Development and many drilling, reserves development and pipeline construction financings.
When engaging with the public sector, legal requirements and practicalities must be fully vetted above and beyond typical legal and commercial issues from the private sector. Clients may need counsel on both commercial and legal implications of doing business with or procuring to the public sector; guidance on lobbying or electoral compliance; or are facing the daunting process of seeking special dispensation from the government. Traversing this complex and layered system requires experience, diplomacy, creativity, skill and discretion.
Our experienced public sector lawyers include highly regarded practitioners who regularly represent public entities and private companies doing business with the public sector. We understand the complexities and subtleties of public law and politics completely and we are proficient at obtaining judicial review; administrative and legislative resolutions; and creative solutions.