RISK ALLOCATION MODEL FOR PUBLIC-PRIVATE PARTNERSHIP IN RADIODIAGNOSTIC FACILITIES IN NIGERIA
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Abstract
Background: Developing a mechanism for risk sharing in public-private partnerships (PPP) is crucial to success of the project as well as improving returns to the government and the private investor. It has become needful to develop a project-specific model for radio-diagnostic facilities.
Objective: To develop a model of risk allocation for PPP in radio-diagnostic facilities in Nigeria.
Methodology: The survey was undertaken from January 2017 to December 2017. A total of 122 questionnaires aimed at allocating different risk factors to either the public or private sector were sent out with 82 (67.21%) returned for data analysis. The target respondents were radiographers and radiologists in PPP and academics who had gained in-depth knowledge of the PPP model through research. Data collected were presented in tables and the preferred risks allocation expressed in percentage.
Results: Out of thirty-three key risks in this study, eighteen (55%) were preferably shared between the public and private sectors. This cut across all the risks groups (political, economic, legal, natural and operational). There is no risk that is solely retained by the public sector (government) with percentage scores above 50%.
Conclusion: The risk allocation model for PPP in Radio-diagnostic facilities suggests that all the risk groups should be shared between the public and private sectors. This study will serve as a risk mitigation tool for the government agencies and prospective investors in this area.
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