The Nigerian Economic Summit Group, has advocated for an improved policy environment around public-private partnership in Nigeria’s Healthcare system, adding that this will help government policy making and strategic planning.
This call was made by the Chief Investment Officer of Nigeria Sovereign Investment Authority, Mr Kola Owodunni, during a webinar with the theme, ‘PPP for Healthcare: Getting the Policy Environment Right’,
Owodunni noted that Nigeria as a nation still has a lot to do in terms of providing quality healthcare for its citizens.
It noted that that successful PPPs help reduce health disparities by extending quality health services to underserved populations.
Owoduni noted that quality healthcare is not a luxury but a human right, especially for a nation vying for sustainable economic transformation and social inclusion.
He added that PPPs have demonstrated globally their potential to optimise resource allocation, minimise waste and augment service delivery.
“They enable the government to focus on policy making, regulation and strategic planning, while the private sector brings innovation, managerial excellence and specialised skills”, he said.
The Thematic Lead, Health as a Business TG, NESG HPC, Dr Ola Brown, explained that despite being the largest economy in Africa, Nigeria generates less taxes than its peers, which indicates the nation’s economic challenges and makes it difficult for the country to finance healthcare.
Brown noted that the private sector, through PPPs, can help solve some of Nigeria’s economic challenges by easing the financial burden on the government and presenting attractive opportunities for investors through an offer of high returns and benefits across a diverse range of sectors.
During her presentation on PPP Analysis, HPC member, Dr. Noimot Balogun identified some barriers to PPP implementation to include misaligned goals and incentives, limited understanding of the scope of the alliance, and unstable policies driven by non-continuity due to political and power dynamics.
The Director of the Public Private Partnership Resource Department of the Infrastructure Concession Regulatory Commission, Dr Jobson Oseodion Ewalefoh, who was represented by the head of Energy and Urban Infrastructure PPP, at the ICRC, Mr Ahmed Abdulrazaq, said that PPPs are complex and are not done in isolation.
He said the legal framework is the most important consideration when embarking on a PPP because it provides the law for the public and private sectors vested within the ICRC.
