PERFORMANCE VALUATION OF PUBLIC PRIVATE PARTNERSHIP IN REAL ESTATE INVESTMENT IN THE NIGERIAN POSTAL SERVICE

Abstract

The study sought to appraise the performance of Public Private Partnership in the Nigeria Postal Service Real Estate Investment with a view to bringing to bare the effectiveness or otherwise of the partnership. The research adopted purposive sampling with sample size of fifty (50) NIPOST Real Estate under Public Private Partnership spread across the six(6) geographical zones. Adopting correlational research design and structured questionnaire as tool for data collection, the research employed both quantitative and qualitative statistical tools to determine the Financial Performance Indicators in NIPOST real estate investment, determined NIPOST real estate investment returns trend Pre-PPP (2003-2012), determined NIPOST real estate investment trend Post-PPP (2014-2023), while T-test was used to compare the return trend between the Pre and Post-PPP return trend. The results revealed a moderate positive trend in NIPOST Pre-PPP real estate investment returns with regression (R=0.523, R-squared = 0.273), while Post-PPP returns showed a strong positive trend with regression (R=0.866, R-squared = 0.751), 75% of variance is explained by time, indicating effective Post-PPP strategies and robust performance. The paired t-test result of extremely small p-values (3.58822E-13) for the two-tailed test indicates a substantial difference between the mean of pre and post PPP (10347872.34 – Pre PPP Vs. 63289893.62 – Post-PPP). The result further revealed a large negative t-test (-10.03966379) and a moderate positive correlation (0.559) indicating a statistically robust performance of Post PPP and a degree of consistency between the Pre and Post –PPP return trend. The overwhelming statistical evidence from the t-test underscores the significant impact of PPP on NIPOST real estate investment. The study concluded that PPP has impacted positively on real estate investment returns of NIPOST and therefore recommends the adoption of PPP by Ministries, Departments and Agencies with underutilized real estate as alternative investment model in order to achieve it investments potential.