Rivers sole administrator Ibok-Ete Ibas has emphasised the need for strict implementation of public-private partnership agreements at Rivers sea ports to maximise benefits and boost economic growth.

Mr Ibas stated this when he received the House of Representatives Committee on Public Assets members, led by its chairman, Ademorin Kuye, who called on him in Port Harcourt on Wednesday.

According to him, despite 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 included the Onne Port Complex, oil and gas service zones, and certain segments of the Nigerian Ports Authority facilities.

Mr Ibas said some partnerships had enhanced operational capacities and revenue, while others underperformed due to weak regulatory frameworks and lack of accountability.

Mr Ibas stressed the need for a comprehensive assessment of the assets to determine their state and chart a clear path forward.

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 sole administrator restated 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.

Mr Kuye explained that the committee’s visit aimed to conduct oversight of federal assets, determine their use and status, and evaluate PPP arrangements at Port Harcourt, Ibeto, and Onne Ports.

Mr Kuye said the committee would work with the Independent Corrupt Practices Commission and the Economic and Financial Crimes Commission to ensure Nigerians benefit from asset disposal.

(NAN)