Governance of Public-Private Partnerships and Value for Money Outcomes in Infrastructure Projects in Ekiti State

This study examines the governance of public-private partnerships and its relationship with value for money outcomes in infrastructure projects in Ekiti State, South West Nigeria. Public-private partnerships have become an important modality for financing and delivering infrastructure in Nigeria, with projects spanning roads, hospitals, and educational facilities. However, governance weaknesses in PPP structures, including inadequate contract management, insufficient performance monitoring, and political interference, have undermined value for money in several high-profile projects. Drawing on principal-agent theory and the World Bank's PPP governance framework, this study evaluates governance mechanisms in three PPP projects in Ekiti State and their value for money delivery records. A qualitative case study design is adopted, combining document analysis of project agreements and audit reports with interviews of twenty PPP contract managers, government officials, and independent evaluators. The study anticipates that PPP projects with robust independent oversight boards and transparent performance reporting demonstrate superior value for money outcomes. Findings will assist the Ekiti State Infrastructure Development Agency, national PPP regulatory bodies, and project sponsors in designing governance frameworks that protect public investment. Keywords: public-private partnerships, governance, value for money, infrastructure, Ekiti State.