Administrator of Rivers State, Vice Admiral Ibok-Ete Ibas (rtd) has tasked the House of Representatives on Public Assets to monitor the implementation of existing Public Private Partnership (PPP) agreements to harness derivable benefits.
The administrator was speaking when he received members of the House of Representatives Committee on Public Assets, led by its Chairman, Rep. Ademorin Kuye, at the Government House, Port Harcourt.
Ibas charged the House committee to fine-tune such PPP agreements to ensure transparency and strict adherence to contractual obligations.
He contended that even though the state serves as a hub for maritime, oil, and gas operations, including other industrial activities, weak regulatory frameworks, lack of accountability, and conflicting interests between stakeholders have hampered business growth.
The administrator regretted that despite the volume of such maritime activities going on in Rivers State, the state continues to grapple with numerous challenges in the infrastructure landscape due to years of neglect, vandalism, and under-utilisation.
He noted the need for such public assets that are now in dire need of rehabilitation and strategic realignment to be given the desired attention.
Ibas said: “Among the assets currently operating under the Public-Private Partnership framework in the state are the Onne Port Complex, various oil and gas service zones, and certain segments of the Nigerian Ports Authority facilities.
“While some of these partnerships have yielded appreciable results in enhancing operational capacities and boosting revenue, others remain underperforming due to weak regulatory frameworks, lack of accountability, and conflicting interests between stakeholders
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“A comprehensive assessment of these assets is therefore essential to determine their current state and chart a clear path forward.
“I believe that the National Assembly, through this committee, is well-positioned to help fine-tune existing Public-Private Partnership arrangements by ensuring greater transparency, adherence to contractual obligations, and improved monitoring mechanisms.”
The administrator sued for greater collaboration in ensuring that the partnerships truly deliver value for money and serve the best interest of the Rivers people.
Chairman of the House Committee on Public Assets, Rep. Ademorin Kuye, said members of the committee were in the state to conduct an oversight on federal assets, specifically to determine their usage, status, and possible disposal.
Rep. Kuye stated that the committee is looking at the Public-Private Partnership (PPP) arrangements entered into by the NPA that are still subsisting at the Port Harcourt Port, Ibeto Ports, and Onne Ports.
