The Sole Administrator of Rivers, Vice Admiral Ibok-Ete Ibas (rtd), has emphasised the need for strict implementation of Public-Private Partnership (PPP) agreements at Rivers sea ports to maximize benefits and boost economic growth.
Ibas made the remark when he received members of the House of Representatives Committee on Public Assets, led by its Chairman, Ademorin Kuye who called on him in Port Harcourt on Wednesday.
According to him, in spite of the state’s critical role in maritime, oil and gas operations, and other industrial activities, weak regulatory frameworks, lack of accountability, and conflicting stakeholder interests have hindered business growth.
He noted that assets operating under the PPP framework in the state included the Onne Port Complex, oil and gas service zones, and certain segments of the Nigerian Ports Authority facilities.
Ibas said that some partnerships had enhanced operational capacities and revenue, while others underperformed due to weak regulatory frameworks and lack of accountability.
Ibas stressed the need for a comprehensive assessment of the assets to determine their state and chart a clear path forward.
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He expressed that the National Assembly could help fine-tune existing PPP arrangements by ensuring transparency, adherence to contractual obligations, and improved monitoring mechanisms.
The Administrator emphasised the importance of collaboration with institutions like the National Assembly to achieve his administration’s mandate.
He called for continued support in repositioning Rivers State on the path of peace, progress, and prosperity.
Earlier, Mr Ademorin Kuye, the House Committee Chairman, explained that the committee’s visit aimed to conduct oversight on federal assets, determine their usage and status, and evaluate PPP arrangements at Port Harcourt, Ibeto, and Onne Ports.
Kuye said that the committee would work with the Independent Corrupt Practices Commission(ICPC), and the Economic and Financial Crimes Commission(EFCC) to ensure Nigerians benefit from asset disposal. (NAN)
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