Aderounmu offers PPP model to FG to finance education sector – The Sun Nigeria
Due to the protracted ASUU strike, which has caused untold suffering to students, parents, teachers and other concerned stakeholders, Professor Sola Aderounmu, former Dean of the Faculty of Technology, Obafemi Awolowo Ile-Ife proposed to the federal government (FG) to adopt the
Model of public-private partnerships (PPP) to finance the education sector as it has done in other sectors.
Speaking at the Oke-Ogun Polytechnic Saki, Convocation, on the topic Using public-private partnerships for sustainable development in Nigeria Aderounmu, also director of the World Bank-sponsored African Center of Excellence in Software Engineering, explained that the concept of public-private partnerships is generally not new, but has increasingly become a global trend for promote sustainable development in many countries, both in developed and developing economies.
He said: “In plain language, there can be no meaningful development in any society or community without cooperation, partnership, collaboration, teamwork, alliance or whatever we call it. In the quest for the development of a society or a country, there must be appropriate investments in the areas identified as needing infrastructure, because basic infrastructure is needed to facilitate socio-economic activities that will stimulate the development.
He said, however, that according to development experts, the gap between infrastructure investment needs and actual investment is substantial and growing. “Thus, in order to help fill the investment gap as the government fails in its responsibilities, a panacea of public-private partnerships becomes absolutely imperative.”
Continuing, he pointed out that PPPs provide a channel to obtain additional investments needed for public infrastructure as well as to facilitate a strategy for improving the planning, implementation, operation and maintenance of infrastructure. . “Furthermore, PPPs enable off-balance sheet borrowing, amplify innovation and help transfer risk. All of this implies that when PPPs are well designed and implemented in a balanced regulatory environment, they can provide greater momentum for sustainable development,” Aderounmu said.