LEGAL ASPECTS OF PRIVATELY FINANCED INFRASTRUCTURE TRANSACTIONS IN NIGERIA

Abstract

Historically, public infrastructure was almost exclusively financed by governments through their budgets. However, over the last few decades there has been a near seismic shift, with the increase in the deployment of private capital for delivering infrastructure for public use. Under this arrangement, public sector entities have partnered with private investors to finance, build, operate and manage public infrastructure. This phenomenon has led to the growth of a large body of unique legal principles and structures, which have been developed to aid the structuring of these types of projects. This paper looks at some of these legal structures and rules, particularly how they are applied in practice in Nigeria