Abstract:
The study assessed the various public project financing options for public infrastructural
projects in Ondo state. Besides the budgetary appropriation financing option, this study
assessed other financing options such as debt-financing, Public- Private Partnership and
pension fund. The four infrastructure financing options were assessed based on five
parameters of availability, accessibility, effectiveness, suitability and viability. This
assessment is to enable the study to recommend to the state the financing option or
combination of options that will help to combat the challenges of inadequate infrastructure in
Ondo State. Data were gathered using both primary and secondary method. Sixty
questionnaires were administered and fifty four were returned and subsequently processed.
The data collected were analysed using descriptive and inferential statistics. Demographic
characteristics of respondents were presented in tables, frequencies and percentages while
objectives and hypotheses were analysed using Relative Importance Index (RII) and Analysis
of Variance (ANOVA) respectively. On the result of the effectiveness of the options, PPP, Debt
financing, Pension Fund and Budgetary appropriation has RII of 0.69, 0.65, 0.63 and 0.57
respectively. The findings show that Debt financing, PPP and pension fund are effective,
suitable and viable financing options for public projects financing in Ondo State. The study
recommends that budgetary appropriations option is available and accessible for project
financing but it has a very low level of effectiveness, suitability and viability. Therefore,
government should explore the available opportunities in the suitability, effectiveness and
viability in other project financing options such as debt financing, PPP and pension fund to
finance public infrastructure in the state.
