PPP: INVESTORS’ CONFIDENCE DWINDLES WITHOUT LEGAL FRAMEWORK AND LEGISLATIVE COMPLIANCE – LAGOS HOUSE SPOKESPERSON, HON. OGUNDIPE

 

 
The Member representing Oshodi-Isolo Constituency-01 in the Lagos State House of Assembly, Hon. (Otunba) Ogundipe Stephen Olukayode (OMOJ’OMOLO), has stressed that without a strong legal framework and strict legislative compliance, Public-Private Partnerships (PPPs) in Lagos State will struggle to attract and retain investors’ confidence.

Hon. Ogundipe made this known while delivering a keynote address at the Stakeholders’ Engagement on the Pilot Public-Private Partnership for the Lagos Water Corporation (LWC), held on Friday, 15th August 2025, at Protea Hotel, Ikeja, Lagos. The engagement, themed “Attracting Investment for Improved Water Supply in Lagos State through Public-Private Partnership”, brought together policymakers, industry experts, and investors to deliberate on strategies for improving potable water supply across the state.

Speaking on “The Role of Legislation in Creating an Enabling Environment for Public-Private Partnership in Lagos State”, Hon. Ogundipe described water as a vital resource that sustains life, drives development, and underpins economic growth. He noted that with Lagos’ rapid urbanisation and population increase, the LWC faces mounting pressure to meet rising water demand, making PPPs an essential tool for financing infrastructure upgrades and expansion.

“Without the right legal framework, investor confidence dwindles, projects stall, and citizens remain underserved,” Ogundipe said, stressing the need for laws that provide certainty, transparency, and security for all stakeholders.

Highlighting the benefits of robust PPP legislation, he explained that laws should clearly define roles and responsibilities, streamline procurement processes, protect public interests, and ensure that while investors get fair returns, citizens continue to enjoy affordable and safe water.
He commended Lagos State’s efforts through the Lagos State Public-Private Partnership Law (2011) and sector-specific regulations but emphasised the need for further legislative reforms tailored to the water sector. His recommendations included:

Updating and Harmonising PPP Laws-Aligning them with international best practices and eliminating overlaps.

Sector-Specific Water PPP Regulations- Establishing clear rules for tariffs, quality control, and dispute resolution.

Stronger Investor Protections- Safeguarding against arbitrary contract terminations and ensuring profit repatriation security.

Transparency and Public Participation - Requiring consultations before major PPP deals and publishing agreements for accountability.

Promoting Local Content - Ensuring job creation by mandating the use of local contractors and expertise.

Hon. Ogundipe reaffirmed the Lagos State House of Assembly’s commitment to law-making, oversight, and representation to ensure PPPs in the water sector thrive, attract global investors, and serve public needs effectively.

He concluded with a call for collective action from lawmakers, government agencies, and private sector partners to make Lagos’ PPP model a benchmark for Nigeria and Africa, declaring:

“This is not just about providing potable water; it is about building resilient infrastructure for generations. Together, we can turn the vision of ‘Water for All’ into reality.”

 

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