Nigerians would start to enjoy good service delivery in the area of infrastructural development following the signing of Memoranda of Understanding (MoU) with two South African-based firms.

Managing Director, Nigeria Urban Development Bank, UDBN, Adekunle Oyinloye said this when the bank signed MoU with Pricewaterhouse Cooper and Surecon Engineering on infrastructure development in Nigeria.

At the signing in Pretoria, South Africa, Oyinloye said partnerships with a global leading engineering company, would provide immediate service delivery to Nigerians.

Said he: “There is a lot of potential in Nigeria waiting to be taped, and good enough Nigerians have now realised that government alone cannot provide their infrastructure development needs, the only way out of the decay infrastructure is to go into Public Private Partnership.

UDBN is set up to provide platform for financing of infrastructural development. Nigeria needs immediate infrastructural development, and our partners are ready to come in to make the dream of provision of service delivery possible in the country,’’

He said the bank has existing partnership agreements with some states, which the foreign partners are already indicated immediate interest.

“We had discussion with some governors on the development of key infrastructure, for instance during the visit of Oyo state governor to our office in Abuja, we discussed the possibility of developing the dams in Oyo states to provide potable water for the citizens of the state and possibly for hydro power.

“Also we have an agreement with the River state government in developing the new Greater Port Harcourt. The project is aimed at creating new city out of present Port Harcourt through the Greater Port Harcourt Authority. The Greater Port Harcourt may be the first beneficiary of these agreement,’’ Oyinloye said.

He said that the bank is also working on the development of rail transportation with Lagos state government.

“The good thing is that most of the companies we had discussion with believe in the huge potential of Nigeria as the Africa leading market, the only area where they are in doubt is the sincerity of government in the PPP, and that is where we come in.

“UDBN is a development finance partner and financial facilitator in the public and private sector infrastructure development, our mandate is to facilitate the transformation of Nigerian infrastructure for enhance productivity,’’ Oyinloye said.

General Manager. Emerging Regions of aurecon, Paul Lombard, said that the company will take full advantage of Nigerian government PPP arrangement to contribute to the country infrastructural development.

“Nigeria is very viable market, our company is not new to Nigeria, we have an existing dam project we are working on in one the North Central state.

“Partnering with UDBN is a welcome development; it would serve as guarantee towards investment in Nigeria. We are interested in the area of housing, water, power and transportation.

“We provide world class technical expertise and innovative solution on project in over 70 countries across Africa, Asia Pacific and the Middle East,’’ Lombard said.