Ibas calls for effective implementation of PPP agreements at Rivers Sea Ports

Ibok-Ete Ibas, the sole administrator of Rivers State, has underscored the importance of ensuring the strict enforcement of public-private partnership (PPP) agreements at the state’s sea ports to unlock economic growth and optimize benefits.

Ibas made this statement during a visit by the House of Representatives Committee on Public Assets, led by Chairman Ademorin Kuye, in Port Harcourt on Wednesday.

Highlighting the state’s pivotal role in maritime, oil, and gas sectors, as well as various industrial activities, Ibas pointed out that weak regulatory frameworks, lack of accountability, and conflicting interests among stakeholders had hampered business development in the region.

He noted that several key assets under the PPP model, such as the Onne Port Complex, oil and gas service zones, and certain Nigerian Ports Authority facilities, were critical to the state’s economic landscape.

While acknowledging that some PPP arrangements have improved operational efficiency and generated increased revenue, Ibas also expressed concern over underperforming partnerships due to regulatory challenges and insufficient oversight.

He emphasized the need for a thorough evaluation of these assets to assess their current condition and map out a clear way forward.

Ibas called on the National Assembly to support the refinement of existing PPP frameworks by ensuring transparency, enforcing contractual commitments, and strengthening monitoring processes.

He reiterated his administration’s commitment to collaborating with national institutions, including the National Assembly, to achieve the state’s vision of progress, peace, and prosperity.

Kuye, explaining the purpose of the committee’s visit, stated that the goal was to conduct an oversight of federal assets, assess their utilization, and review the status of PPP agreements at Port Harcourt, Ibeto, and Onne Ports.

Kuye further revealed that the committee would collaborate with the Independent Corrupt Practices and Other Related Offenses Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) to ensure that Nigerians benefit from proper asset management and disposal.