The Director-General of the Infrastructure Concession Regulator Commission, Mr. Joe Ohiani, has urged state governors to create a Public Private Partnership framework to support infrastructure development in their states.
According to the News Agency of Nigeria, Ohiani gave the advise during the Nigeria Governors’ Forum current induction session for newly elected and returning governors in Abuja.
Speaking on a panel at one of the event’s sessions, Ohiani counseled governors to adopt PPP as a substitute method of serving their constituents and fixing infrastructural shortages in their states.
He claimed that currently, just 25 states of the federation had given their states’ PPP legal frameworks approval.
“PPP benefits all parties involved, a win for his person who will use the project, a win for the investor who has invested in the project, and a win for the government in providing the projects and amenities.
“At the federal level, we are pleased to report that approximately 75 projects were completed in Nigeria during President Muhammadu Buhari’s administration from 2015 to the present.
“Investments total 2.1 trillion Naira in net worth. That demonstrates that PPP is a different source of funding for the federal government and local governments.”
The Managing Director of the Nigeria Export Processing Zones Authority, Prof. Adesoji Adesugba, participated in the discussion as a panelist and urged governors who have not yet embraced and supported the free trade zone scheme to do so in order to draw investments into their states and create employment opportunities.
He stated that only 22 of Nigeria’s 36 states participate in the free trade zone program and that to provide jobs for our youth, we must take all necessary steps and move swiftly as though the situation is urgent.
“I’m taking this chance to ask the states that haven’t gotten on board with this plan to sign the permission. It is an excellent strategy for discouraging investment in your state. Ekiti State received the President’s approval in barely four weeks.
“It’s fascinating to learn that 18 of Lagos’ 46 free trade zones include residents who have a thorough understanding of the idea. It makes sense why there are so many investors there.”
He added that you can grow your free zones the same way that Ghana and Côte d’Ivoire have as well as establish a tiny free trade zone that will draw business to your state.
According to Adesugba, the initiative already has innovative concepts in Lagos, Ogun, Borno, and Delta.
He claimed that in order for Nigeria to advance as quickly as China and Dubai, more needed to be done in the area of free trade zone schemes.
“In its 5,000 free zones, China transacted roughly $4000 billion worth of shares.
“In Nigeria, we are attempting; in 1992, we established our free zone program before China.”
“Around 30 billion dollars have currently been invested in free trade zones. That suggests there is still much to be done.”
