Infrastructure is one of the main parameters of economic growth and a country‘s competitiveness depends on the provision and maintenance of efficient and productive infrastructure assets. However, Nigeria, like most countries in Sub-Saharan Africa has the lowest quantity and poorest quality of stocks of infrastructure assets in the world and this phenomenally poor infrastructure has remained an impediment to development in the country. Decades of sub-optimal investment, poor maintenance culture and the fact that the required infrastructure investments could not be accommodated within the available fiscal space as a result of budgetary constraints have all contributed to the Nigeria‘s infrastructure deficit. The immediate outcome of this however is that the available infrastructure assets across the Nigerian landscape are in decrepit state and absurdly inadequate. Besides, the present demand for basic infrastructure services has grown astronomically out-stripping the supply capacity of the existing ones. Closing the infrastructure financing gap will however require increased investment by private investors through creative financing in an enabling legal and financial environment. Outside the budgetary constraints, the absence of efficient maintenance and management of infrastructure assets and quality service delivery by the public sector are some of the reasons why procurement of public infrastructure stocks by government through the traditional approach is no longer plausible and hence, the general appeal of the public-private partnership framework. However, despite all the potentials, the public private partnership technique in Nigeria has not made an appreciable impact in closing the infrastructure gaps due to lack of access to long-term financing. It is against this back-drop that this study has sought to investigate how reforms of the legal and financial infrastructure could widen access to financing through innovative financial resource mobilization in scaling-up infrastructure development and service delivery to the teeming Nigeria population. Therefore, the central thesis of this study is that the inadequacy of appropriate laws and inefficient financial system are partly responsible for the huge financing gaps in the Nigeria‘s infrastructure market and with the legal and financial reforms, an enabling legal and financial environment that would open up space for resource mobilization through innovative financing techniques and sources will be created thereby widening access to long-term financing and increasing the appetite for private investment in the nation‘s public infrastructure assets and services. So, the overarching objective of this thesis is to explore how legal and financial system reforms can facilitate the development of financial models and instruments that can help mobilize financial resources to fund infrastructure and bridge the huge infrastructure financing gaps in Nigeria in a sustainable fashion. Given the infrastructure poverty that constrains economic growth and development in Nigeria, the outcomes of this proposed study would help inform the need for the legal and financial system reforms to unlock resources in addressing the problems of financing gaps in infrastructure projects development in Nigeria. Besides, such outcomes based on the Nigerian experience in infrastructure financing and development may be turned into valuable knowledge for policy –making and further research in Nigeria. Copyright / Thesis (LLD)--University of Pretoria, 2012. / Centre for Human Rights / unrestricted

<p>Water infrastructure forms a critical sector of our social system and provides goods and services for public health, the natural environment, economic safety, various businesses, and government operations. In the United States (US), drinking water is supplied nationally through one million miles of pipes, most of which were installed in the early to mid-20th century with a life span of 75 to 100 years. Along with this fact, water bills which are rising faster than inflation, result in communities grappling with aging water systems, fewer water resources, and extreme weather. The federal government’s share of capital investment for water infrastructure has fallen from 31% in 1977 to 4% in 2017. Regional and state expenditure has accounted for a much larger share as federal aid for water infrastructure capital needs has declined. This has led to water rates rising to cover the costs of replacing and upgrading water infrastructure in many communities across the country. They are struggling to meet such costs through local rates and fees.</p><p>Over the next 20 years, more than 56 million new users are expected to connect to centralized treatment systems, and $271 billion is needed to meet current and future demands. However, the investment in critical water infrastructure is currently only meeting a fraction of the funding need. In 2019, the total capital spending on water infrastructure at all levels was $48 billion, while investment needs totaled $129 billion, creating an $81 billion gap. As such, the most recent American Society of Civil Engineers’ Infrastructure Report Card assigned a D to the drinking water infrastructure and a D+ to the nation’s wastewater infrastructure. Ineffectual and wasteful investment in the water sector has caused an adverse effect on grades in the infrastructure report card for water infrastructures. Moreover, this may negatively impact water-reliant sectors and water-related infrastructures due to the economic ripple effect.</p><p>This research has developed a data-driven strategic investment decision support system to close the existing water infrastructure investment gap and reduce the vulnerability of aging water infrastructure. The first phase of this study was to determine the causes affecting the grades in the infrastructure report card for drinking water and wastewater infrastructure and contributing to any latent threats and prolonged risks. It uses data-driven approaches based on analysis of existing ineffective improvement methods and recommendations. It attempts to leverage a data-driven supervised statistical learning method to capture the complex relationships between new challenges and the growing demand for water infrastructure needs. The ultimate outcome of this phase is a research approach to minimize water and wastewater vulnerability and close the investment gap to help create a paradigm shift in the current state of practice. Furthermore, improving the resiliency of and increasing investments in the water and wastewater infrastructure will lead to a resilient, efficient, and reliable water future and protect the public health of future generations.</p><p>The second phase of this study was to predict the economic benefits of additional federal support in water infrastructure among interdependent sectors within an economic system to facilitate the federal government’s share of capital investment. It conducts ripple effects analysis, which predicts the effectiveness of water infrastructure capital investment using historical economic data. It explores how federal capital investment in water infrastructure spreads economic benefits within an interdependent system. This phase was conducted at the federal level using the interindustry-macro model that analyzes macroeconomic data, including over 400 sectors. Investments that are coordinated at the federal, state, and local level will help control and stabilize rising water rates across the US.</p><p>The third phase of this study was to conduct a cost-benefit assessment in terms of private, financial, economic, and efficiency considerations using nominal and real terms to maximize the benefit of investing in the water sector and reduce the vulnerability of water infrastructures. In order to measure the costs and benefits of a strategy to maximize the efficiency of limited budgets and resources, this phase conducts a cost-benefit analysis due to the investment costs for rehabilitating and improving water infrastructures using historical economic and financial data. The long-term financial framework, including considerations of deep uncertainties so that decision-makers can understand the benefit of investing assets for an optimal level versus the cost of doing nothing and allowing the asset to run to failure is developed using the cost-benefit assessment.</p><p>Finally, a data-driven strategic investment decision support system that helps governments make water infrastructure development plans and infrastructure investment decisions in the water sector is presented. It can help governments with designing a novel system or modifying existing ineffective assessment methods and recommendations aimed at minimizing the mismatch in the water infrastructure investment gap between current spending levels and funding needs. Furthermore, minimizing the risks of ineffectual and wasteful water sector investment through rehabilitating and improving water infrastructures in a rational manner will lead to improved grades in the infrastructure report card and the resiliency of interrelated infrastructures and sectors.</p>

Vital societal functions are upheld by public infrastructure. For some time, normative theories describing asset management have disseminated in research and in business. Public infrastructure companies are increasingly required to adhere to management standards under regulatory pressure, however, the research area is in need of more empirical contributions on which challenges companies face when implementing management systems standards in their organization. For asset management systems and the ISO 55000 series in particular, the empirical data is lacking. This thesis addresses the challenges public utility companies face when implementing asset management principles. A qualitative case study was conducted during a five-month period at Sweden's largest water utility company, Stockholm Vatten och Avfall AB (SVOA). Fourteen interviews were conducted and compared with company documents to provide triangulation. The findings suggest that the main challenges a public utility company has to overcome to implement an asset management model are: 1) Lack of strategic and long-term planning responsibility. 2) Unclear division of asset responsibilities. 3) Lack of top management commitment towards asset management systems. 4) No standardized risk management. 5) Lack of information sharing between departments. The implications of this study are twofold: In a practical sense the thesis argues for top management of public infrastructure firms to commit to principles of asset management theory, provide a clear division of asset responsibility, introduce systematic risk management principles and policies, as well as promote cross-divisional exchanges of experiences. Academically, this investigation contributes to the literature by providing a better understanding of the ISO 55000 series, and the implementation process of standards similar to it, in the context of companies managed by the public sector. / Kritiska samhällsfunktioner möjliggörs av offentlig infrastruktur. Sen ett antal år tillbaka finns flertalet normativa teorier publicerade som beskriver hur tillgångshantering (asset management) ska gå till. Under krav från lagstiftning och tillsynsmyndigheter måste offentliga verksamheter i allt högre grad införa standardiserande arbetssätt. Det finns en brist på forskning kring utmaningarna att bygga upp och införa ledningssystem i verksamheten. Särskilt ledningssystem för tillgångshantering som till exempel ISO 55000 saknar empiriska data. Detta examensarbete behandlar de utmaningar offentliga infrastrukturbolag står inför för att implementera tillgångshanteringsprinciper. En kvalitativ fallstudie gjordes över fem månader på Sverige största leverantör av vattentjänster, Stockholm Vatten och Avfall AB (SVOA). Totalt fjorton intervjuer gjordes och jämfördes mot interna företagsdokument för att uppnå triangulering. Resultaten pekar på att de största utmaningarna ett offentligt infrastrukturbolag måste övervinna är: 1) Brist på strategisk och långtidsplanering. 2) Otydlig fördelning av tillgångsansvar. 3) Brist på ledningsengagemang för tillgångshanteringssystem. 4) Avsaknad av standardiserad riskhantering. 5) Brist på informationsutbyte. Konsekvenserna av examensarbetet är tvåfaldig: På ett praktiskt plan argumenterar examensarbetet för att ledningen av offentliga infrastrukturbolag bör förpliktiga sig åt tillgångshanteringsprinciper. De bör även införa en tydlig uppdelning av tillgångsansvar, introducera standardiserade riskhanteringsmodeller och policy, samt bidra till tvärfunktionella erfarenhetsutbyten. På ett akademiskt plan bidrar examensarbetet till att utöka förståelsen för ISO 55000 standarden och implementeringsprocessen för liknande standarder i kontexten av offentligt styrda företag.