Dr Abel Olaoye, the Head of Deparment, Estate Management, Obafemi Awolowo University, Ile-Ife has identified Public Private Partnership(PPP) initiative as a developmental tool that could usher in better infrastructure procurement in Nigeria.

Dr Olaoye made this known in his lecture at a workshop organized by the Nigerian Institution of Estate Surveyors and Valuers (NIESV) Kwara/Kogi states in collaboration with Estate Surveyors & Valuers Registration Board of Nigeria (ESVARBON) held at Circular Hotel, Ilorin, the Kwara state capital.

Olaoye who was guest speaker at the institution's 2013 'Mandatory Continuing Professional Development (MCPD) workshop with the theme "Challenges of implementing Public Private Partnership (PPPs) arrangement in infrastructure financing" said PPP initiative remained a good panacea that guarantees rapid infrastructure development in the country.

The don who observed the existence of various challenges facing the implementation of PPP in the country, mentioned lack of institutional framework, political instability, cultural issues, lack of professional expertise, risk factors in the economy as some of the problems facing PPPs initiative in the country.

He therefore recommended the need for the institutionalization of PPPs through effective legal, regulatory and institutional frame work that could enhance and sustain PPP in Nigeria.
Olaoye also called on government to ensure stability in its policies towards PPPs and take the honouring of contractual agreement as an obligation as well as lay greater emphasis on the technical skills and capabilities of intending parties and consortium.

The don also recommended that Nigerian capital should be developed, deepen and empowered to provide for and suit the necessities and requirements of PPP projects, saying that such arrangement would reduce the problem of funding.