EVALUATION OF CRITICAL SUCCESS FACTORS FOR PUBLIC-PRIVATE PARTNERSHIP’S REMODELLED MARKET PROJECTS IN ABUJA, NIGERIA

Abstract

This study evaluated the critical success factors in public-private partnership (PPP) on remodeled markets in Nigeria with a view to determine how to improve the usage of the PPP procurement method in markets remodeling. The study was a descriptive survey, using a semi-structured questionnaire in five sections namely: socio-demographics, rating of critical success factors in relation to markets remodeling, PPP Models relevant for markets remodeling, associated risks and risks allocation in relationship to markets remodeling. A total of 120 questionnaires were administered to the respondents. data obtained from respondents were analysed to arrive at the descriptive and inferential statistics. The critical success factors observed in this study were factors at the preliminary qualification evaluation phase, the tendering phase, the construction phase, operation phase and transfer phase. The analysis of variance of these factors to the level of usage of PPP model shows a significant impact of 89.5%. Design Build and Operate, Design Build Operate and Transfer, Operation and Maintenance, Build-Operate and Transfer, Design Build, Design Build Operate and Maintain are some of the PPP models used for markets remodeling. Price risks, completion delays, operating cost, expropriation, review of tariff and change in interest rates were reported with higher figures implying higher significance. In terms of risk associated with remodeling of markets using PPP arrangement by the actors. for public sector, 80% of respondents affirmed that project risk is highly related, regulatory risk 55% highly related, financial risk 79% moderately related, political risk 43% highly related, market risk 56% of respondents agree it’s not related and development and planning risk 47% not related. But for private sector, respondents viewed market risk is 15% highly related, development planning risks with 84% moderately related, project risk with 26% not related, political risk with 77% moderately related, regulatory risk 84% moderately related and financial risks 64% highly related according to respondents. Overall, in this study, the results revealed risk factors and significant success factors on remodeling of markets in FUT Abuja Nigeria