BDAN urges banks to support Nigerian PPPs

Banks should be doing more to promote PPPs in Nigeria, according to the Bank Directors Association of Nigeria (BDAN).

Speaking at a recent conference, Mrs. Foluke Abdulrazaq, vice president of BDAN stressed the need for commercial banks to support more PPPs and that with the move by governments to revamp the economy through private sector participation, banks would have an increasing role to play in the funding of projects.

"Nigerian banks have a cumulative balance sheet of over $2.7bn invested in this economy. We expect that a fair share of future funding requirement will come in the form of PPP proposals from both government and private sector operators," she said.

According to her, without engaging banks, both states and federal governments would not be able to record rapid infrastructure development.

"Banks have been at the forefront of nation building because that is what we are doing, in supporting public infrastructure development through PPP project financing. We have always been significant in the growth of the economy and in Nigeria.

"So I think we have a major role in influencing how we work with the states and federal government and how we access debts in the capital markets and how we support projects that are going to drive this economy," she added.