The concept of public-private partnership (PPP) (Public-Private Partnership
PPP) in the last few decades have become a very desirable way of financing the construction, maintenance and operation of public infrastructure and provision of public services, activities that traditionally belong to the public sector. As there is constant need for improvement of public services and lack of funds, PPP emerges as a possible way of solving the problem of financing the development. In countries in transition, such as NIgeria especially during periods of recession and fiscal restrictions, PPP takes on or at least it should gain in importance. Will the concept of PPP be used to the desired extent depends on a number of very different factors such as: the capacity of professional sector, political environment, economic policy, market conditions, macroeconomic stability, institutional framework, the quality of legal system. Public Private Partnership is a contractual arrangement which is formed between public and private sector partners which involve the private sector in the development, financing, ownership, and or operation of a public facility or service. In such a partnership, public and private resources are pooled and responsibilities divided so that the partner’s efforts are complementary. The objectives of PPP is to contribute to the economic integration, accelerates economic growth and sustainable development, engenders and sustains private sector participation (PSP) in traditionally public sector projects is the case with tourism and expands local access to international markets. In order to achieve a sustainable PPP for ensuring the most effective, productive, compassionate, result-oriented and efficient use of resources, it is imperative that the partners should adopt a single framework of action that provides the basis for co-coordinating the work of all partners; put in place and maximally utilize a single national or community coordinating body with a mandate from various sectors or stakeholders, and agree on a single national monitoring and evaluation mechanism to ascertain and maintain accepted standards.
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