The Lagos Water Corporation says it has advanced its public-private partnership initiative aimed at transforming water infrastructure and improving service delivery across the state.

The corporation disclosed this in a statement on Friday.

It said the development followed a high-level directors’ meeting held at the corporation’s headquarters in Ijora.

According to the statement, the executive management reviewed progress on the competitive bidding process and concession arrangements for key water facilities across the state.

The corporation said 23 bids were received across four project lots following a competitive bidding exercise, which was followed by technical assessments and financial evaluations.

According to the corporation, the initiative is expected to attract private sector investment for the rehabilitation of water assets, improve operational efficiency and expand access to potable water, especially in underserved communities.

It said the harmonisation of concession terms to a standard 20-year tenure with a unified five per cent royalty structure was part of measures introduced to ensure transparency, consistency and fairness.

The corporation stated that the PPP arrangement would focus on infrastructure rehabilitation and network expansion to address the current challenge whereby, even at full capacity, it could only serve about 35 per cent of households in Lagos State.

It added that a performance framework containing 10 to 11 key performance indicators had been introduced to guide implementation.

“The targets include achieving between 60 and 80 per cent water supply availability in the initial phase, reducing non-revenue water to below 25 per cent within seven to eight years, and progressively increasing daily supply hours,” it said.

The corporation further stated that the framework included financial sustainability measures such as cost-reflective tariffs with periodic reviews, foreign exchange protections and performance incentives designed to attract credible investors.

It said robust risk management and governance structures had been established to safeguard public interest, ensure service continuity and maintain regulatory oversight.

“The PPP initiative represents a critical milestone in modernising Lagos State’s water sector through private sector participation while upholding transparency, accountability and long-term sustainability,” it said.

The corporation reaffirmed its commitment to protecting public interest, maintaining high service standards and ensuring a seamless transition during the concession period.

It added that negotiations with preferred bidders would commence shortly, with continued collaboration among relevant government agencies, regulators and stakeholders.

The corporation said it remained focused on delivering reliable, sustainable and equitable water services to over 20 million residents of Lagos.

The statement recalled that the Lagos government had earlier announced plans to concession seven mini and micro waterworks located in Lekki, Akilo, Victoria Island Annex, Magodo, Abesan, Alexander and Apapa to private investors.

According to the corporation, the project will be implemented through a pilot PPP arrangement aimed at rehabilitating, upgrading and efficiently operating the facilities.

It added that each waterworks would be concessioned in designated lots to investors with the financial and technical capacity to manage and sustain operations. 

(NAN)