AIYEDATIWA HAILS NDDC’s PUBLIC-PRIVATE PARTNERSHIP FOR SUSTAINABLE DEVELOPMENT INITIATIVE
** Calls for all inclusive engagement to ensure success.
Ondo State Acting Governor and Deputy Governor, Hon Lucky Aiyedatiwa hails the Niger Delta Development Commission (NDDC) on the planned adoption of Public Private Partnership (PPP) in it’s quest to ensure sustainable development of the Niger Delta Region, declaring it, as game-changing initiatives.
Aiyedatiwa made the remarks at NDDC organized PPP Summit – tagged , REWIND TO REBIRTH,– “Building a Sustainable future through Public Private Partnership for the progress of the Niger Delta” held at Eko Hotel & Suites, Victoria Island, Lagos on Tuesday.
The Acting Governor explained that it was appropriate that Ondo State being an oil producing State needed to make valuable contributions to the subject matter given the myriad of challenges facing the region, taken into consideration the major focus of the current Board of NDDC in getting private sectors to buy into the development of the region with NDDC as the vehicle.
He said, “according to the World Bank 2012, a PPP is a term contract between a private party and government agency for the purpose of providing a public asset or service in which the private party bears significant risk and management responsibility”.
“Public-Private Partnership is a generic term that rightly describes the multitude of structures put in place to pave way for private sector involvement in the provision of public service” .
He explained further that, the PPP helped to ensure optimum use of resources as well as efficiency in service delivery.
“These added benefits translate to an increased value for money as a result of utilisation of private sector expertise and technology leading to superior products and services at a lower cost” , he said.
Aiyedatiwa further revealed that, the Federal Government about a year ago, and in partnership with the private sector players established Infra-Co, a trillion naira ($2.4BN) company, this company is backed by the Central Bank of Nigeria, the Nigerian Sovereign Investment Authority and the African Finance Corporation.
He pointed out that, from available information, Infra-Co is expected to grow it’s capital and assets to N15 trillion over time and would found public infrastructure projects like housing, roads, rails and power as it is also projected to help a GDP growth of 10 per cent over the next 10 years.
Aiyedatiwa further charged that, “I believe the NDDC, moving forward with possible adoption of PPP for infrastructure and other developmental strategies may want to look at the operations of Infra-Co, if you are not already doing so, even other initiatives, especially in Lagos State where PPP is working” .
He thereafter commended the new NDDC Board for doing things differently for a better result oriented development for the Niger Delta Region.
Former Governor of Edo State and Senator-Elect, Adams Oshiomole said, “the NDDC management and the Board have shown courage by putting the summit together, the NDDC has our prayers and supports, what is missing is not the ideas, but the courage”.
In his keynote address, the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Egnr. Simbi Kesiye Wabote said the Federal Government has made efforts to address the issues of transparency and accountability in the commission .
He thereafter implored the Board and the management of NDDC to do all within their power to protect the commission in the best of light by ensuring good corporate governance is put in place.
“From what I can see with the current management, a new dawn is in the horizon and I look forward to very exciting times at the commission” , he said.
Others at the highly impactful event are, Minister of Niger Delta Affairs, the supervising ministry, Mr Umana Oko Umana, Managing Director of NDDC, Chief Samuel Ogbuku, former Managing Director Director of NDDC Chief Timi Alaibe, former Managing Director of NIMASA, Dr Dakuku Peterside, Johnson Kilargi, Abubakar Suleiman, Nimi Wolso-Jack, Oliver Everest, major stakeholders of the Niger Delta Region, Captains of Industry in the private sector, Traditional Rulers from the region and others.
Press Secretary to Governor, Office of Acting Governor.
Photo Credit : Abayomi Adefolalu.