Post by Adesanya Ayotola (@adesanya_ayotola)

I will always support private equity participation as a model for driving development in Nigeria, particularly at the regional and subnational levels. Government should not attempt to do everything itself. Instead, it should establish professionally managed investment companies with minimal political bureaucracy to lead strategic partnerships with private capital.

Nigeria's infrastructure and systems deficit has accumulated over the decades. The scale of that gap is simply too vast to be bridged efficiently through public funding alone. Private equity brings not only capital but also expertise, efficiency, innovation and accountability, qualities that can accelerate the delivery of critical infrastructure and public services.

A typical example is the power sector. Reports indicate that well over ₦10 trillion has been spent on the sector over the past decade, yet millions of Nigerians still endure unreliable and epileptic electricity supply. This is not merely a funding problem; it is a governance, execution and institutional problem. More public expenditure without structural reform will only reproduce the same disappointing outcomes.

The success of a private equity-driven development model, however, rests on two non-negotiable foundations: the rule of law and security. Investors require policy consistency, contract enforcement and an environment where lives, assets and investments are protected. Without these, even the most ambitious public-private partnerships will struggle to achieve their intended impact.

Development is no longer just about government spending; it is about the government's ability to create an ecosystem where capital can confidently build the future alongside the state. If Nigeria is serious about closing its infrastructure gap within a generation, government must evolve from being the primary builder to becoming the enabler, regulator and strategic partner of private capital.

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